If you have a team operating under your brokerage, it’s important to know the CCIMLS team grace period ends on December 31st, 2017.
CCIMLS recently implemented a new team policy with the aim of giving brokerages one year to get their teams in compliance with the policy. If your agents are still using U#s for their team, or have not completed the team paperwork, please ensure they do so by January 1st.
What this means is that starting January 1st, 2018:
- No statistics will be transferable for those teams not in compliance with the new policy starting January 1st
- A team application fee of $100 will be in effect for all new teams set up in CCIMLS
- A $25 processing fee will be assessed if a team makes more than one change in a calendar year
- All teams using a U# and have modified their name to display as a team name will be converted back to their actual name instead of their team name.
The team policy is not meant to define any marketing or operations regarding teams that happen outside the CCIMLS. We advise REALTORS® to discuss individual brokerage policies with their broker when setting up a team as many brokerages themselves have distinct policies, best practices and/or guidance.
The updated CCIMLS team form can be found here. You can also contact firstname.lastname@example.org for a copy of the updated team form and policy information.