Adoption of ITSO MLS® Rules

Tuesday, August 27, 2024

Adoption of ITSO MLS® Rules – What to Expect

As previously announced, Cornerstone Association of REALTORS® will implement the ITSO MLS® Rules and Policies for all members on September 10, 2024, to coincide with our members' unification to a single MLS® platform. Members who were previously RAHB members should take note, as there are some differences from what you were used to.

Since these policies and rules will be new to many, Cornerstone will provide a grace period until December 31, 2024, for the first time a member breaks a “Basic MLS® Rule”. Additionally, we have provided video tutorials (see below) and will provide additional training to help members through this transition.

Summary of Upcoming Changes Due to the Adoption of the ITSO MLS® Rules:

Administrative Monetary Penalties (AMPs): Amps for most infractions (such as REALTOR® or Brokerage contact information in listing remarks) have increased and will now follow the schedule noted below. However, members will be provided with an opportunity to resolve any issues prior to any AMPs being levied which has been shown to reduce if not eliminate these penalties.
Sellers’ Direction Required: Where the listing is not immediately available for the registration of Offers, the Sellers’ Direction (OREA Form 244 or equivalent) must be attached to the Matrix listing. This is a requirement under ITSO Rule 2.08(e).
Image Inclusions: Images may include surrounding amenities related to the property, provided they are labeled as such and relate directly to the property listed for sale or lease.
Remarks Fields Usage: Showing, offer or compensation remarks can only be included in the specific fields and cannot be included in the REALTOR® Remarks: This restriction is to ensure that this information is available in VOW’s without requiring Cornerstone to include REALTOR® Remarks in these feeds.

Public Remarks: For marketing information designed for consumers, you may include comments such as "see my website for further information" without specifying the nature of such additional information. Offer remarks may be included in the Public Remarks provided the comments are consistent with what is in the Offer Remarks field. Click here for a video tutorial
REALTOR® Remarks: For REALTOR® specific information, and if a Special Agreement exists it has to be indicated in these remarks. Seller contact information may be included in the REALTOR® Remarks. Click here for a video tutorial
Offer Remarks: For all comments related to the registration of offers. For example, where the registration of offers is delayed or if pre-emptive offers will be reviewed, this must be disclosed in this section. Click here for a video tutorial
Buyer Agency Compensation Remarks: If the sale price of the property includes taxes, then REALTORS® must state if the cooperating compensation will be calculated from the net sale price after deducting all taxes. Any Special Agreement affecting cooperating compensation must also be disclosed. Click here for a video tutorial
Showing Remarks: All conditions and information related to showing the property must appear in this section. For example, restrictions on when the property may be shown. Click here for a video tutorial

Cornerstone will monitor and enforce the ITSO “Basic MLS® Rules” listed below and fully defined he re.

The Basic MLS® Rules are:  

2.04 - Input listing by 11:59 p.m. next business day 
2.05 (c) - Must offer compensation of more than 0  
2.06 (b) - Accuracy of information 
2.06 (d) - Seller contact information cannot appear in public remarks
2.08 - Unacceptable listings 
2.14 - Content to only appear in designated fields 
2.15 - Multimedia URLs 
2.16 - Images 
2.17 - Remarks 
2.20 - Processing amendments 
2.22 - New expiry date 
3.02 - Canceling appointments 
6.01 - Reporting trades 
6.02 - Removal of conditions 
6.03 - Expiry date and escape clauses on conditions 
6.04 - Trade information 
10.16 (b) - Deleting listing content 
12.03 - Delivering copies of information upon request from the Association

Violations of these rules may be subject to an AMP.

What is an Administrative Monetary Penalty (AMP)?

An AMP is a financial penalty intended to deter non-compliance with the ITSO “Basic MLS® Rules.” Prior to any AMP being levied, Cornerstone will provide members with an opportunity to resolve any issues.

Correction and Appeal: Members have 24 hours to correct alleged breaches or appeal the notice of concern. Non-compliance within 24 hours will result in the listing being suspended and a reactivation fee being charged to the member of:
$175 for the first breach within 12 months
$350 for the second breach of the same rule within 12 months
$500 for the third breach of the same rule within 12 months
Escalation: The fourth breach of the same rule within a 12 month period will automatically be escalated to the ITSO Professional Standards Committee.
Appeals Process: If a member appeals, a meeting will be coordinated within 48 hours with the Cornerstone Professional Standards Committee. This meeting is a peer review process to allow the member to explain their position to a panel of their peers.

Please ensure you read and understand the ITSO MLS® Rules and Policies. Links to both documents are provided below:

Members are encouraged to take the ITSO Introduction to MLS® Rules, Policies, and REALTOR® Code Training, available here on CREA’s Learning Hub.

If you have any questions, please contact Cornerstone MLS® Support at 905.667.4650 or mls@cornerstone.inc. We are here to assist you through this transition and beyond!

cornerstone.inc