During their November 11th meeting, NAR’s Board of Directors approved MLS Statement 8.0, also known as the Clear Cooperation policy. This policy requires listing brokers who are participants in a multiple listing service to submit listings to the MLS within one business day of publicly marketing the property.
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.
NAR’s MLS Technology and Emerging Issues Advisory Board concluded that leaving listings outside of the broader marketplace can exclude homebuyers, and this new policy will help ensure equal opportunity is extended to all consumers. Please note that this policy doesn’t prohibit brokers from taking office-exclusive listings; nor does it impede brokers’ ability to meet their clients’ privacy needs.
MLSs can adopt the policy any time, but they must adopt it no later than May 1, 2020.
Virginia REALTORS® Legal Team discusses this new policy on the latest episode of the Caveat REALTOR® podcast.
You can also find more information on NAR’s MLS Clear Cooperation Proposal page.
Do you have a question for NAR regarding the Clear Cooperation Policy? You can submit your questions by clicking here.