NAR board overwhelmingly approves pocket listing policy

Clear Cooperation Policy Approved

The NAR Board of Directors has overwhelmingly passed a controversial policy proposal designed to combat pocket listings.

The Clear Cooperation Policy will require listing brokers to submit a listing to the multiple listing service within one business day of marketing a property to the public.  As a result, the rule will effectively end the growing practice of publicizing listings privately for days or weeks without making it universally available to other agents. The policy is effective January 1, 2020. 
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 list sharing networks, and applications available to the general public.  
Putting listings in the MLS benefits both sellers and buyers by offering properties maximum exposure.  It is also an element of satisfying an agent’s fiduciary duty to its client.
Private networks and public listings revealed only to certain agents, prospects or neighborhoods is not cooperative and possibly illegal when used to avoid exposure to protected classes, in violation of Fair Housing laws.  
As REALTORS®, we are committed to Fair Housing Practices and applaud the new Clear Cooperation Policy.