Please note that when reporting a sale, the Selling Date field is used to report the date on which an accepted agreement becomes an unconditional sale. If the accepted agreement has no conditions this would be date of acceptance. If the accepted agreement includes conditions this would be the date that all conditions have been waived or fulfilled. RAHB staff has noticed a number of listing where this field was used to display the date when a conditional agreement was reached. This can lead to incorrect and misleading information on the MLS®. As per RAHB’s MLS® Policies:
“9.01 An important part of the inherent value of the Association’s MLS® System is the transaction data accumulated for sales of listed properties. Therefore, it is the responsibility of all Members to ensure, regardless of their business model, that property sold information for properties listed on the Association’s MLS® System, including the reporting of conditionally sold properties and sale prices, be reported to the Association. Members are not permitted to avoid these reporting responsibilities to the Association by, for example, cancellation of a Listing between receipt (or anticipated receipt) and acceptance of an Offer, or encouraging a Seller to do so. Accordingly, the Listing Brokerage will report by Broker Load all sales and conditional sales for Broker Loaded MLS® Listings effected during the Listing term and during the holdover period of an MLS® Listing, within two (2) Association business days following written acceptance of any Offer by the Seller. If the MLS® Listing is Board Loaded, the sale or conditional sale must be submitted in writing within two(2) Association business days following written acceptance of any Offer by the Seller. Power of Sale and commercial sales shall be reported not later than two (2) Association business days after closing.”
If you have any further questions, please do not hesitate to contact us at (905)667-4650 or support@rahb.ca.