Everyone loves hearing about your new sales –  your clients, your Broker, the taxman, and, of course, your friendly neighbourhood Board staff. But sometimes these sales come in missing vital information, and that can take valuable time from your real estate practice to correct.

Here’s five tips to avoid receiving a call from our MLS® sales department:

Submit the Contract of Purchase and Sale (CPS) along with your sales report. This is a new-ish rule, and we’ve included a reminder on the sales report form template since 2020. However, a missing CPS is the most common reason we’ll contact you regarding a sale.

The date of sale refers to the date that the seller accepted the offer, not the date the subjects were removed. It’s common for members to get confused since we require you report the sale within five days of the subjects being removed, so make sure you double check you’ve got the correct date.

Ensure the correct MLS® number is listed on your form. This may seem obvious, but things can get messy if your listing has been cancelled and re-listed a couple of times. Ensure you’re providing the most up to date information to avoid complaints that your active listing should be marked as sold.

No properties should be listed after there is an accepted offer. This happens often with pre-sales because of the seven-day rescission period, but the listing effective date needs to be on, or before, the offer acceptance date. If it’s listed after the acceptance date, we won’t be able process the sale. All we can do is terminate the listing and mark it as sold before listed, and that means you'll miss out on Medallion points. 

Always report your sales using the net price, including GST. With over 20,000 sales processed so far this year, it's not feasible for our MLS® team to calculate the net sale price on each sale.