November 11, 2019
Marketing a Listing? MLS Submission Will Soon Be a Must
At its November 11 meeting, the National Association of REALTORS® 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.
Greater Lehigh Valley REALTORS® leadership and staff, in addition to the MLS Committee, have had a pulse on MLS Statement 8.0 discussions. GLVR will implement MLS Statement 8.0 and will fully comply with this NAR mandate. With its approval, dialogue at the Greater Lehigh Valley REALTORS® will progress and will keep your business models, and how they could be potentially affected, in mind. Rollout information on the local level will be forthcoming.
MLS Clear Cooperation Proposal (including FAQs)
MLS Proposal Heads to Board of Directors
Backstory Behind the Clear Cooperation Policy Proposal