At it’s November 11th 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.
Here are some important items to note:
- The rule is mandated by NAR and will be likely be implemented in January or February 2020.
- The policy doesn’t prohibit brokers from taking office-exclusive listings; nor does it impede brokers’ ability to meet their clients’ privacy needs.
- The policy does require submission to the MLS within one business day of marketing the property to the public.
- Coming Soon listings are allowed under the policy
The 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.