Nov. 11 Update — At its Nov. 11 meeting, NAR’s Board of Directors approved MLS Statement 8.0, also known as the Clear Cooperation policy. The policy requires listing brokers who are participants in a multiple listing service to submit their listing to the MLS within one business day of marketing the property to the public.
NAR’s MLS Technology and Emerging Issues Advisory Board proposed the policy as a way to address the growing use of off-MLS listings. The advisory board concluded that leaving listings outside of the broader marketplace excludes consumers, undermining REALTORS®’ commitment to provide equal opportunity to all. The policy doesn’t prohibit brokers from taking office-exclusive listings; nor does it impede brokers’ ability to meet their clients’ privacy needs.
Following is the full text of MLS Statement 8.0:
Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
MLSs can adopt the policy any time, but they must adopt it no later than May 1, 2020.
NAR encourages members to submit questions regarding the policy at this link.
Nov. 5, 2019 —
What you need to know about NAR’s proposed Clear Cooperation Policy
The National Association of REALTORS®, through its MLS Technology and Emerging Issues Advisory Board, recently proposed an MLS policy called the Clear Cooperation Policy, also known as MLS 8.0. This policy is intended to promote cooperation between agents and the MLS, but SABOR believes this rule, as written, could limit how a REALTOR® can conduct business effectively for their clients. Therefore, SABOR is opposed to the policy as proposed because it needs further discussion.
The rule as proposed states: “Within 24 hours of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public-facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.”
NAR has proposed this policy in response to a growing trend of exclusive listing networks, or “pocket listings,” and NAR is wanting to create a stronger and more effective partnership between agents and the MLS.
We believe this proposal has good intentions, with its addressing of Fair Housing issues, but we also think it needs to do more to consider the best interests of sellers. Right now, this policy would actually create roadblocks for a property owner because it could cut off some of their marketing options and leave them with less flexibility.
We understand that no policy will be a perfect fit for every association, but we do believe this policy should continue to be crafted in a way that will better serve the interests of consumers – both buyers and sellers.
The issue will be addressed at NAR’s Multiple Listing Issues and Policies Committee on November 9 during the REALTORS® Conference and Expo in San Francisco. If it is approved in committee, then it will go before NAR’s Board of Directors on November 11. Your feedback is critical. Click here to send NAR your questions or comments about this proposed policy.
If you have any additional questions, you may contact SABOR at email@example.com.