Dear Members,

Effective March 17, 2025, the Fraser Valley Real Estate Board, the Chilliwack & District Real Estate Board, and the Greater Vancouver REALTORS® can no longer use the Irrevocable Direction Regarding Presentation of Offers (IDRPO) form. Rather, REALTORS® must use the new Direction Regarding Presentation of Offers (DRPO) form. The Rules of Cooperation have been amended to reflect this change, which will take effect on March 17, 2025.

Background

In fall 2024, the BCFSA presented its concerns to the BCREA about the use of the IDRPO form and accompanying rules adopted by some Boards/Associations.

The IDRPO was originally created to enhance transparency and provide all buyers with a fair opportunity for their offers to be presented. However, the “irrevocable” portion of the IDRPO created challenges under the Real Estate Services Act (RESA) framework since the IDRPO could not be altered or revoked once signed by the consumer.

The IDRPO unintentionally created a conflict between a REALTOR®’s regulatory duties pursuant to RESA, and their obligation as Board Members to comply with the Rules of Cooperation. Specifically, because the IDRPO is irrevocable, it prevented a REALTOR® from changing their advice to clients about offer presentations during an evolving transaction. The IDRPO also prevented the REALTOR® from accepting new instructions from their client. Replacing the IDRPO with the new DRPO form eliminates this conflict.

Multiple Boards/Associations are currently in the process of revising their rules and forms related to delayed presentation of offers.

Members can view the new DRPO form here: Direction Regarding Presentation of Offers (DRPO) form – March 2025. The form will be available on WEBForms® on March 12 but will not be in effect until March 17.

The information page on the DRPO form outlines new procedures contained in the revised Rules of Cooperation, which must be followed should a pre-emptive offer be received during a ‘No presentation of offers’ period.

• In the event the Listing Brokerage receives a written pre-emptive offer and the seller wishes to consider it prior to the published presentation date and/or time, the Listing Brokerage must obtain a revised DRPO form, signed by the seller, and must update any such instruction that has been published on the MLS® System and posted as an associated document, all prior to presenting the offer; and
• Prior to presenting the offer, the Listing Brokerage must notify all Cooperating Brokerages that have requested an appointment, have shown the property, have requested an offer presentation, or have requested in writing to be kept informed about offers or possible changes to the published offer presentation date and time, that the seller has changed their written instructions regarding offer presentations to an earlier date and/or time, and must give those Cooperating Brokerages equal and, where practical, concurrent opportunity to present their offer(s).

Changes to the Rules of Cooperation include: the removal of all references to the IDRPO; a return to the use of the DRPO; and additional requirements related to its use. No other changes have been made. For a side-by-side comparison of all amendments to the Rules of Cooperation in the context of each existing rule please visit Rules of Cooperation – What’s Changing – March 17, 2025 – affected sections only.

For more information:

The Rules of Cooperation information is also available on FVREB Connect on the Rules, Standards, By-laws & Resources page.

Please keep in mind that in many areas of the Rules of Cooperation where it references the Listing Brokerage being required to perform tasks/duties or act, it is in fact the Designated Agent who performs those tasks on behalf of the brokerage.

Questions

If you have any questions, please first speak to your Managing Broker. For any further questions, contact Barbara Lohmann Director, Professional Standards at 604-930-7605.

Stephanie Roy

Chief Operating Officer