If there is one thing that REALTORS® don't look forward to doing, it's filling in FINTRAC forms. The rules around FINTRAC change often, and the clients don't understand why these forms need to be completed; however, REALTORS® must fill them in and keep them on record.
Rule 3.10 is here to keep your listings clean, clear, and compliant. It’s simple: One listing per trade function, per Seller, at a time—no duplicates allowed!
Whether it’s Sale vs. Lease, Furnished vs. Unfurnished, or Owner vs. Power of Sale, this rule helps keep the MLS® System accurate and easy to navigate. Commercial listings? There’s a bit more wiggle room—but clarity is still the name of the game.
Think you’ve got Rule 3.10 down? Take our 5-question quiz and prove you're a listing legend!
While a POTL (Parcel of Tied Land) itself is not new, it is somewhat of a foreign term for our area. There are a few communities that operate under the POTL type of ownership.
With a POTL, each home or townhome owner typically owns a piece of land and the building on it and also has a part ownership in the common elements of the Common Element Condominium (CEC). The common elements include things like parking areas, access roads, sidewalks, and parks.
Are you familiar with this term? Take this four-question quiz to see if your knowledge of POTLs is great, or if it needs a bit of work.
To ensure accuracy and professionalism across all listings, it's important that remarks appear in their designated fields. This includes separating public-facing details, Broker information, offer instructions, and showing details into their proper sections. Misuse of any field may result in fines—$500 for a first breach and $1,000 for repeat violations.
Navigating the real estate market can be complex, especially when it comes to understanding the various statuses a property may hold throughout its journey as an MLS® listing.
Statuses, such as New, Sold Conditional (SC or SCE), and Expired (EXP), are not just labels – they represent different stages in the life cycle of a listing, and provide insight into real estate transactions and the local market.
In this five-question quiz, we’ll review different statuses in the PropTx System, who can make status changes, and the process for doing so.
Rule 5.01 - Every image submitted to the MLS® System shall prominently feature the property specific information about the Real Estate Component itself and aspects of the immediate surroundings that relate directly to the Real Estate Component, including, but not limited to, scenery viewed from the Real Estate Component.
The Early Complaint Resolution (“ECR”) Process is intended to:
How familiar are you with this process?
Take this quick four-question quiz to find out!
The Early Complaint Resolution (ECR) process is designed to ensure MLS® rule compliance while providing members with a fair opportunity to correct any violations. This structured approach allows for initial warnings and corrective actions before escalating to Professional Standards. Read more on the three-stage process, outlining how violations are addressed and the steps taken in the event of repeated breaches.
Navigate through the lingo to see what the scoop is on the new fines and the process. Non-compliance with the PropTx MLS® Rules can lead to penalties as outlined in the Special Administrative Penalties (SAP) Schedule, which are enforced by the PSRP according to Article 4 and the Early Complaint Resolution Process under Article 6.
How well do you know the new fines and processes? Take this quick four-question quiz to find out!
Members are responsible for ensuring all MLS® data is accurate and compliant with established rules. Adhering to these guidelines helps maintain the integrity of the MLS® System and ensures a fair and professional marketplace for all. Failure to comply may result in fines. Keep reading to ensure you are up to date.
MLS® (Multiple Listing Service) rules are essential for maintaining fairness, accuracy, and professionalism in the real estate industry. They ensure that property information is reliable and up-to-date, fostering trust among buyers, sellers, and agents. Adhering to these rules promotes ethical practices and prevents disputes, creating a level playing field for all participants. Additionally, compliance with MLS® standards protects agents and brokers from legal or regulatory issues.
How familiar are you with the new PropTx MLS® rules? Take this five-question quiz to find out!
MLS® (Multiple Listing Service) rules are essential for maintaining fairness, accuracy, and professionalism in the real estate industry. They ensure that property information is reliable and up-to-date, fostering trust among buyers, sellers, and agents. Adhering to these rules promotes ethical practices and prevents disputes, creating a level playing field for all participants. Additionally, compliance with MLS® standards protects agents and brokers from legal or regulatory issues.
How familiar are you with the new PropTx MLS® rules? Take this five-question quiz to find out!
Accurate location mapping is imperative in real estate. It's like a GPS to your property, guiding potential buyers to the doorstep. When you pinpoint your listing precisely, you're showcasing professionalism, and the ability for your listing to be found by fellow REALTORS®, and the public.
How well do you map your listings? Take this quick four-question quiz to find out!
REALTOR® Cooperation is a key component of organized real estate and central to the value of MLS® Systems as cooperative selling systems. REALTORS® can and should be using MLS® Systems to market properties on behalf of clients as part of any strategy to publicly market a home.
Curious about how well you know REALTOR® Cooperation? Test your knowledge with this quick five-question quiz and see if you're a pro or if there's room for improvement!
We would like to acknowledge the Indigenous Peoples in whose traditional territory we work and live: the Anishinabek; the Haudenosaunee; and the Lunaapeew. The three distinct First Nations communities within the Middlesex-London area are: Chippewas of the Thames First Nation; Oneida Nation of the Thames; and Munsee-Delaware Nation. We acknowledge the many longstanding treaty relationships between Indigenous Nations and Canada – including the London Township Purchase of 1796 between the Anishinabek and the Crown. This territory is now home to many First Nations, Metis, and Inuit peoples.
Each of us must honour these relationships, and we all have a responsibility to reconcile.
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