At this month's national convention, the NAR Board of Directors approved MLS Statement 8.0, known as the Clear Cooperation Policy and requires submission of a listing to the MLS within one business day of marketing the property to the public. This policy is intended to address the growing use of off-MLS listings, which NAR feels excludes consumers and undermines REALTORS®’ commitment to provide equal opportunity to all, and reads:
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.
The policy does not prohibit brokers from taking office-exclusive listings, nor does it impede brokers’ ability to meet their clients’ privacy needs. The policy does not prohibit the use of the Coming Soon status in our local MLS.
With MLSs having until May 1, 2020, to adopt the policy, Greater Chattanooga REALTORS® currently is reviewing our MLS Rules to determine what changes need to be made in light of the Clear Cooperation Policy. Stay tuned, as ample notice will be provided to all MLS Participants/Subscribers once the MLS Rules are revised in light of this new policy and prior to any policy changes taking effect locally.
In the meantime, watch this informational webinar to understand the policy and the rationale.
QUESTIONS? Comment below so we can consider and answer your questions as we review our local policies.