- by David Tam
We’ve created three new videos to help you understand the changes to the Rules of Cooperation that’ll take effect on November 1. The changes range from minor modifications to new rules and a new form.
The Rules of Cooperation govern members’ conduct and obligations to each other in their business.
These changes are in response to member feedback and requests we’ve received over the past several years.
The most significant changes are in Section 3 — Listings and Section 4 — Offers. A new form, the Direction Regarding Presentation of Offers form, will be required if the seller has instructions to delay offer presentations and/or to specify whether a buyer’s agent can attend the offer presentation.
Other changes deal with attachments to listings, like documents and photos, contingent listings, showings, title searches, and manufactured/modular homes. Changes in other sections affect offers and presentations, sales reporting, open houses and showings, signage, and lockboxes.
Resources to help you learn these changes
Ethics Guy® Kim Spencer created a series of ’Top Tip’ videos to explain these changes. Watch every video in this series here. You can watch the three latest videos below.
Rule 7.02 Reference to Commission and 7.03 Disclosure of Reduced Commission
Rule 5.01 Reporting Sales
Rule 3.22 Member Access to Listed Properties
Other help resources
We’ve also prepared a comparison guide displaying the old and new rules side-by-side so you can see what’s changed. You can also download a copy of the new Direction Regarding Presentation of Offers form here.
Please review these resources ahead of the new rules taking effect November 1. We’ll share more resources as they’re available.