Get to know what’s new: Changes to the Rules of Cooperation

The Rules of Cooperation are established guidelines we share with the Real Estate Board of Greater Vancouver and the Chilliwack & District Real Estate Board to help members across communities work better together. Each year the Boards collectively review the Rules to consider enhancements, or updates to provide greater clarity and relevance to realtors.

The Rules of Cooperation are vital to the success of every REALTOR® in the Lower Mainland, providing direction in every aspect of our MLS®, from listings, to offers, sales, professional conduct, commission, advertising and even lockboxes.

Revisions to the Rules, effective October 17, 2022, were recently shared with all members in an eMemo #4207 on September 29.

Also taking effect on October 17 is a new Irrevocable Direction Regarding Presentation of Offers (IDRPO) form, which will replace the current Direction Regarding Presentation of Offers (DRPO) form.

Follow the links to view:

New IDRPO form to replace the current DRPO:

  • Making a seller’s delay of offers instruction irrevocable provides greater clarity and certainty for everyone involved in the process.
  • This change is designed to increase public confidence in the way our profession handles offers from competing buyers.
  • The default under Rule 4.02 is that offers must be presented “without delay.” If that is what your seller wants, you do not need to take additional actions. If your seller wants to override the standard rule, you must use the new Irrevocable Direction Regarding Presentation of Offers (IDRPO) form.
  • Under the revised rule, once your sellers sign the IDRPO form, you cannot present or advise them about any early offers. This means that you must present all offers on the date noted on the IDRPO form, not before. This instruction cannot be rescinded.
  • The new IDRPO form will be uploaded to WEBForms on October 12, with the current DRPO form removed on October 17.

Full details regarding the Rules of Cooperation may be found on the Rules, Standards, By-laws & Resources page on FVREB Connect.

Note: In many areas of the Rules of Cooperation where the Listing Brokerage is referenced as being required to perform tasks/duties or take action, it is in actual fact the Designated Agent who performs those tasks on behalf of the brokerage.

If you have any questions, please contact Michelle Sparrow, Government Relations Lead and Conduct Advisor, Professional Standards, at 604-930-7600.