Summary
“Multiple Listing Options for Sellers” is effective as of today and must be implemented by Sept. 30.
The National Association of Realtors (NAR) has unveiled “Multiple Listing Options for Sellers,” a new policy that is designed to exist in conjunction with its Clear Cooperation Policy.
According to NAR, the policy introduces a new category of exempt listings called “delayed marketing exempt listings” that will allow a seller the option of having their listing agent delay the marketing of a listing through Internet Data Exchange (IDX) and syndication for a period of time. Each multiple listing service (MLS) will be given the discretion of deciding on a delayed marketing period that is most suitable for their local marketplace.
During the delayed marketing period, the home seller and the listing agent can market the listing in a manner consistent with the seller’s needs and interests, NAR added, while the delayed marketing exempt listing will still be available to other MLS participants through the MLS platform.
Listing agents representing sellers who choose to delay the public marketing of their listing must secure from their seller a signed disclosure documenting the seller’s informed consent to waive the benefits of immediate public marketing through IDX and syndication. Seller disclosure is required for both delayed marketing exempt listings and office exclusive exempt listings.
“NAR continually reviews its MLS policies to ensure they best serve its members and their consumers while also mitigating and avoiding potential legal risks,” said NAR President Kevin Sears. “As such, NAR undertook a comprehensive review of CCP as part of our efforts to ensure home sellers and home buyers have the information and flexibility they need to make decisions that work for them. These policy changes allow for greater choice for sellers in marketing their properties while considering buyers’ need to access information through MLSs.”
“Multiple Listing Options for Sellers” is effective as of today and must be implemented by Sept. 30; NAR launched new resources for “Multiple Listing Options for Sellers” on facts.realtor, and the organization noted that its new policy does not change MLS local mandatory submission deadlines or Clear Cooperation Policy and its requirement to file a listing with the MLS within one business day from public marketing.
I am not really sure how this helps the Seller or the agent? Either the Seller is ready to sell or they are not! We will see how this goes…
Advertising is the lifeblood of real estate selling. Even though we look at IDX as “stealing our listings”, restricting their access for a time is limiting greater listings exposure. How is that helping?
These rules are ridiculous. Either you’re selling a house or you’re not.
Another way for shady agents/agencies to legally hold pocket listings “because it’s better for the seller.” (Their way of coercing sellers to only let them and their agents show it) The RE news from yesterday shows homes that are sold without an agent or “office exclusives” leave nearly $6000 on the table.
Why does NAR think they have the right to dictate to home sellers how they can sell their house. If the seller does not want the house in MLS that is their legal prerogative. And to tell agents they cannot work with a seller because they must list the home in the MLS, is restricting an agents ability to earn an income. This is just another example of how NAR has become obsolete, not worth the dues you pay and is driving away members. I will not be renewing my membership next year.
Well said. Ditto.
“These were exactly my thoughts! NAR has become obsolete, and it’s time we reevaluate our relationship with the organization. The term ‘Realtor®’ no longer holds its intended distinction—buyers and sellers use it interchangeably for all licensees, regardless of membership. Our local association mandates NAR membership for MLS access, which feels more like a survival strategy than a meaningful benefit.”
Well I want to drop my NAR OAR membership but am being held hostage by our local MLS, which makes one stay a member. I was speaking with a huge atty firm who told me real estate agents should try small claims court to get their dues back. Interesting concept, eh?
But on subject–I can see no good reason for this exemption except that I detest Zillow and other traps that have access to our info. Can anyone tell me how this is good for a seller?
Weird!
I have no idea why I or a seller would want to delay IDX / public marketing while marketing only to local MLS members. I’ve delayed ALL marketing for sellers not quite ready to deal with showings for a variety of reasons, and I’ve have had Office Exclusives for sellers who just didn’t want to deal with a bunch of people walking thru their home, or nosey neighbors, estranged relatives,… But so long as it’s marketed to all the members of local MLS, why on earth we’d draw the line at IDX I have no idea. I’m pretty sure my MLS has always had the option to “turn off” syndication, but I never understood why nor had a seller ask me to. In fact the opposite. Most seller’s 1st question is about how widely it will be marketed, they want the most exposure possible.
Sounds as NAR is willing to do whatever it takes to stay relevant!!! Does anyone know if they have the $200+ mil available for the first half of the lawsuit settlement…and if so…where it’s coming from???
This is very confusing….HOW IS THIS HELPING ?? to me it looks like Nar is just helping the big firms to control the market place by letting the listing not be shown…..selling the listing ..in house by that firm…buyer brokers loose big time. Recently I have a strong feeling Nar does not work for us anymore
This is totally absurd and incoherent. Most sellers want their property listed and in the MLS as soon as possible and with this “new” policy it only makes it worse for us agents in procuring the sale for the best of our seller’s interest. Besides, this will only help the big investors and corporations to acquire the property with less or no competition at all! 😤
Most sellers will not know what DMEL is unless proposed by the agent. Shame on NAR!!!
This is another way to approach the “Coming Soon” aspect of listing marketing. Why are we going backwards?
yet another ridiculous change made by NAR
It only HARMS the sellers. Lower exposure = lower price.
IMO, it breaches fiduciary responsibility and only aids the listing agent and their company since they will (doubtless) get both the list and sell sides.
If you read the second bullet point of the NAR statement: “During the delayed marketing period, the home seller and the listing agent can market the listing is a manner consistent with the seller’s needs and interests. At the same time, the delayed marketing exempt listing will still be available to other MLS Participants through the MLS platform so they can inform their consumers about the property.” This new policy also does not change the MLS’s local mandatory submission deadlines or CCP and its requirement to file a listing with the MLS within one (1) day from public marketing. My MLS in Buffalo, NY includes Rochester and Syracuse also (big area). So, in reality nothing has changed. Except you can opt out of IDX for a period of time. My understanding of the get rid of the CCP mandate is they do not want it in the local MLS for period of time. No where except their office. I do not agree with getting rid of CCP. This will bring us back to the wild 50’s and 60’s where discrimination was common, Will be interesting to read what the get rid of CCP proponents say.
How is this different from “waivers”? I always get the paperwork signed along with the waiver form, then line up the photographer and start on the marketing work; copy, ads, etc. Then, only when I have the photos do I go live with a listing. We go on the market with everything ready and done…you need time to get pre-llsting work done prior to the listing going live.
Totally agree with Shannon’s comments
Been licensed since 1980. Ive seen a lot. NAR has done some good but its beyond them now.I protested having to be a member THIRTY YEARS AGO, lol. I didnt like having to pay dues to fund their golf games. We can talk smack about them now but in reality, the ambulance chasing lawyers, and the internet, and just the times have rendered them obsolete and toothless (not their fault). But back to the point, as I posted as a reply below to someone—Ive tried to find something about this thats an advantage to anyone. I cant. Why even do this? Admit I HATE zillow and others who have IDX access and ‘sell’ our own hard earned info to others, but thats not reason enough to exclude them if it doesnt give any advantage to a seller.