Broker Update, May 17, 2024

Professionalism and the quality and completeness of MLS® data

We are continuing to work in earnest to advance and raise the level of professionalism across the real estate profession.

Following the recommendations from our professionalism white paper that we released last year, we have launched initiatives focused on:

• elevating entrance standards,
• expanding member education opportunities,
• revising our discipline processes to promote greater accountability within the membership,
• exploring different approaches to advertise the value of the Realtor to the public,
• providing more transparent and comprehensive housing market information and statistics, and
• contemplating minimum practice requirements to help ensure members remain practice ready and able to comply with the changing legal and regulatory requirements within real estate.

All of this work is underway. I have presented to different boards, associations, regulators and other real estate organizations in Canada to find like-minded partners who also seek meaningful change in these areas.

Some of these initiatives will take time to advance depending on the depth of collaboration and stakeholder engagement needed.

There are, however, opportunities for us to show leadership and move forward today. Our MLS® system is the most fundamental example. The system is a key engine driving our housing market, the data we rely on, and the processes we follow to facilitate trading.

When the information added to the system is incorrect, incomplete or abruptly removed, the system is weakened. When, for example, a listing is posted with inaccurate square footage, or it fails to have the required strata documents, public trust in our profession and our MLS® suffers.

We can do better, both within the membership and at GVR. We are dedicating more resources to oversee data quality on the MLS® and examining new ways to hold those who upload inaccurate or incomplete listings to a higher standard of accountability.

First and foremost, we must follow and enforce the rules already in place. As Section 3.06 of the Rules of Cooperation states, “It is the responsibility of every member to provide to other members clear, accurate and factual information concerning any listing by such member.”

We cannot up our game in this area alone. We need all members and brokerages to lend their support.

We ask all members to commit to meeting your obligations in the listings you post. It is equally important to notify us if you see other listings with inaccurate or incomplete information.

On Paragon listings, click the “correction” button any time you see inaccurate or missing information or documentation on the MLS®. While we may not be able to respond to these notifications instantly, rest assured that we will review anything you flag for us to correct.

The MLS® is our most valuable asset, and it’s up to us all to keep it accurate and robust. Let’s work together to make that happen.

The Critical Path podcast – What's next for professionalism with Ethics Guy® Kim Spencer

Professionalism is a key part of Greater Vancouver REALTORS®’ (GVR) strategic plan.

But how do we attain our goal to become more professional?

With his retirement on the horizon, we sit down with Ethics Guy® Kim Spencer to discuss the initiatives set in place to improve professionalism in real estate, and how the real estate profession has changed in his nearly 50 years in the business.

Listen below.

The Critical Path is released monthly. Upcoming episodes will cover topics like the new professionalism projects on the horizon, how data can help your business, and more.

Make sure to subscribe to GVR Podcasts to get the latest episodes of the Critical Path.

Missed our last episode? Check out our conversation about the new Realtor pension plan with INTEGRIS CEO JP Laporte.

Making sales more transparent – new sale status, information coming to MLS®

New sales statuses coming to the MLS® in June will be visible anywhere the MLS® listing is posted, from Paragon to Realtor.ca, and is intended to provide more transparency to both Realtors and buyers and sellers.

While these statuses will be implemented for all members, as brokers, you can set your own rules for your salespeople around using the new statuses.

To help you understand what these new statuses mean, and why your association decided to implement them, we created this information package for brokers.

You can also review this FAQ, and a new workflow chart that illustrates how these new statuses will be used.

I encourage you to read over these documents before defining your own rules around these statuses.

Questions? Contact GVR’s MLS® department at mls@gvrealtors.ca or 604-730-3010.

Learn on your own terms and save money on your PDP this summer

Need PDP hours this summer, but don't want to be stuck in a classroom? You can set your own pace, earn your hours at any time of day, and save money!

We've got two ways to help: Accelerated self-paced PDP courses from UBC, and self-paced audio courses from Prodio.

Learn more about these learning options here.

Need help developing your brokerage manual?

Did you know that the BC Real Estate Association (BCREA) has developed a Brokers Policies and Procedures Manual template? This is an invaluable resource for brokers looking to develop their own brokerage manuals or to keep your policies and procedures sharp and up to date.

You'll find the template and other useful resources for brokers on BCREA's managing brokers portal. Check it out today.

Get your office team registered for GVR’s softball tournament

GVR's got a full day of good times, networking, and camaraderie at our Slow Pitch Tournament Wednesday, June 12 at the Riverway Sports Complex in Burnaby!

Create a fun theme for your office team and get in a minimum of three games. There'll be playoffs, a home run derby, and fun lawn games and a DJ to keep you entertained between games.

Refreshments available include pizza, muffins and coffee, and a beer garden with proceeds going to the REALTORS Care® Shelter Drive.

Event Details

• Wednesday, June 12 starting at 9 am
• Riverway Sports Complex, 8605 Nelson Avenue, Burnaby
• Cost: $475 per team
• Refreshments available, including beer garden with proceeds to REALTORS Care®.
• Register your team with Cheryl Funston at cfunston@gvrealtors.ca.
• Registration deadline is May 29.

Keeping the Competition Act in mind

As REALTORS®, you’re constantly searching for innovative ways to distinguish yourself from your competition. Your quest for the proverbial “leg up”, however, must be balanced against your obligations under the Competition Act.

Learn more about the Competition Act and your obligations here.

Review the latest disciplinary decisions in your office

Stay on top of the work GVR does to uphold and enforce professional standards within the profession and resolve disputes between members.

Our Professional Conduct Committee (PCC) investigates alleged member breaches of the Realtor Code and our Rules of Cooperation. Review the PCC’s latest rulings (C24-02; C24-03 Consent to Discipline and Notice of Suspension).