We know you are busy, and we know you are trying your best to help your clients in the unusually active local real estate market. However, if you read only one thing today, we hope it’s the following message.
Starting on May 1, if you are the Listing Agent for an Active FVREB area listing that is still missing a Title Search in the Associated Documents of your listing three days after the listing was entered into Paragon®, you will be assessed a fine of $50. An additional $50 fine will be applied every seven days until your listing has a Title Search uploaded.
These new fines apply to Active FVREB listings entered before and after May 1. As explained in an eMemo that was shared with members on January 27, 2021, the Rules of Cooperation were updated on March 1, 2020 and one of the key changes was a revision to Rule 3.26 to require that all members post a copy of the Title Search to the Associated Documents on Paragon® within 24 hours of a listing becoming active on Paragon®.
To date the Board has not been fining members with listings that are non-compliant with the rule. However, this changes on May 1.
Your colleagues need timely access to key listing information including a Title Search to guide and advise their clients. Please do your part to help your professional community.
Here is a how-to guide on “Adding Documents in Paragon®” and here are tips on how to obtain a Title Search found on REALTOR Link®.
Source: FVREB MLS®