NorthstarMLS Clear Cooperation Policy effective March 1st
Last November, the National Associations of REALTORS® Board passed Policy 8.0, also known as the Clear Cooperation Policy, will not allow brokers/agents to pre-market listings to the public without being posted on the MLS. The intent is to strengthen cooperation and address concerns surrounding off-market listings, particularly pocket listings and private listing networks that exclude many consumers.
- Within one (1) business day of marketing a property to the public, the listing broker must enter and submit the listing to the MLS for cooperation with other MLS Participants (Active or Coming Soon status if not yet Pending/Sold).
- Examples of public marketing include but are not limited to: Broker and other public websites, any digital marketing (such as email blasts), yard signs, fliers displayed in windows, private listing networks.
- All Withhelds are now considered “Office Exclusives” that may not be publicly marketed (unless entered into the MLS for cooperation within one business day of marketing).
- If you need time to prepare your home, we are allowed to post the listing up to 21 days on the MLS as a coming soon property, but showings cannot start until 1 day prior to going active on the MLS.
- Agents are still allowed to network your property one-on-one with other Agents and seek out their buyer needs prior to going active on the MLS, but cannot show the property until 1 day prior to going on the MLS.
As buyer, this means you will have more exposure into seeing all listings, and will reduce the amount of “sold prior to list” properties. However, brokerages are allowed to market properties within their brokerage and any agent to any agent, and may have buyers already lined up, so when it is posted as coming soon 1 day prior, it still may sell that day. So stay diligent, get educated on the market and see as many houses as you can see so when the right one pops up, you will be ready.
As a seller, this removes your right to privately market the home without going live on the MLS, It was a great way to test higher prices, get feedback, and make adjustments prior to going live on the MLS. Some sellers also do not want people going through their houses, or dealing with the public, such as luxury listings or trashed out houses meant only for investors. So Sellers should stay diligent in preparing their homes for sale, ensure it is priced right and in good condition, right out of the gate.
