An agent representing the interests of the Seller and an agent representing the interests of the Buyer. In the majority of real estate transactions, there are two agents involved. These agents want people to call them directly to buy the house and by doing so, they get to keep both sides of the commission. The reason agents use this form of advertising is simple: they are greedy. Yes, I went there. I guess the definition of ‘soon’ is subjective and could be up for debate, but I digress. Some of these Coming Soon signs end up sitting on a lawn for several weeks. Drive around neighbourhoods and you will see signs advertising, “Coming Soon.” However, with that many agents, there are bound to be a few whose business practices are questionable. In fact, new blood has entered the industry, membership in the Toronto Real Estate Board is now approximately 46,000 agents. We need new blood and high calibre ones at that. The requirements to enter the business are more demanding and more young people are turning to real estate as a career path. No, “Active – Coming Soon” listings are not permitted for broker tours or open houses.Since I started in the real estate business in 1986, I’ve seen a lot of changes – most for the better. Can my “Active – Coming Soon” listing have a broker tour or open house?Ī. However, it is the listing agents responsibility to ensure adherence to the rules.
It will stay in this status for up to 30 days, once the 30 days have passed the system should automatically cancel the listing and the status will reflect “Cancelled-Coming Soon”. How long can my “Active – Coming Soon” listing stay in this status?Ī. No, the Active Coming Soon listing will only be viewable by Paragon Users. Does “Active – Coming Soon” listings syndicate to 3rd party websites?Ī. Yes, you are required to submit 1 front exterior photo of the property within 1 day of entering the listing. Do I have to upload photos on an “Active – Coming Soon” listing?Ī. When the listing is updated to “New” the days on market field will be reset to zero. Yes, days on market will count while the listing is in the status of “Active – Coming Soon”. Will days on market begin to count when I enter it in Paragon as an “Active – Coming Soon”?Ī. Once the SELM/Waiver has been processed you receive a secondary confirmation. Yes, if you submit the SELM/Waiver via email or fax you will receive an email confirmation of receipt. Will I receive a confirmation once I submit the SELM/Waiver to CCAR?Ī. Once I have the SELM/Waiver form completed where do I submit it?Ī. However, if you have an active listing agreement and do not plan to input the property into the MLS within 3 days of execution then you must provide CCAR a copy of your RLA or a SELM. The change to MLS Rules 7.5 Mandatory Submission and 7.6 Exempted Listings now allow an “Active – Coming Soon” listing to meet the requirements. No, as of December 28th, 2020 the CCAR MLS Rules and Regulations have been updated. Do I still need to have my Seller sign a SELM/Waiver when I enter the listing in Paragon as an “Active – Coming Soon” listing?Ī. Yes, you can publicly advertise your “Active – Coming Soon” listing. Can I publicly advertise my listing if I have entered it as an “Active – Coming Soon” listing in Paragon?Ī. By entering the listing in Paragon one business day after you’ve marketed the Property keeps your listing compliant with the Clear Cooperation Rule # 7.5.a. Seller would like to market the property before going “Live” on the MLS. Why would I enter an Active-Coming Soon Listing in Paragon?Ī. Yes, “Active – Coming Soon” must be available to show within 3 days subject to any tenant’s rights, hazardous conditions or unless seller indicates otherwise in writing. Can an Active-Coming Soon Listing be available for showings?Ī. An “Active – Coming Soon” listing is considered an “On Market” listing that is entered in Paragon but not ready for syndication.
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