New fines for missing Title Searches in FVREB-area listings on Paragon® come into effect on May 1, 2021:
- If a Title Search is not posted to a new listing in Paragon® within three days after the listing has been entered, a fine of $50 will be assessed to the Listing Agent.
- Additional fines of $50 will be applied every seven days until the Listing Agent posts a Title Search to the Associated Documents of the listing in Paragon®.
We started informing all Fraser Valley Real Estate Board members about the new fines coming into effect on May 1 for missing Title Searches in an eMemo distributed on January 27, 2021.
Hopefully by now when you take a new listing, it has become part of your routine to obtain and upload a Title Search to the Associated Documents of your listing in Paragon®.
Posting the Title Search within 24 hours of the listing becoming active on Paragon® as per rule 3.12 of the Rules of Cooperation will help to ensure that other members looking at your listing have the information they need to share with their clients, and you can avoid the new fines. Note: Board staff do not upload Title Searches. Members are required to upload their own Title Searches.
Here are instructions on how to add documents in Paragon®. If you need guidance on how to obtain a Title Search, click here.
Source: FVREB MLS®