High Country Association of REALTORS News

Clear Cooperation is coming May 1

 

 

What is the new MLS Clear Cooperation?

Clear Cooperation is a new National Association of Realtors® (NAR) policy that will affect every MLS participant and subscriber.

This mandatory policy requires entry of a listing in the MLS within one business day of publicly marketing the listing.

Why has this change occured?

NAR stated Brokers and MLSs from across the country asked NAR to consider policy that will reinforce the consumer benefits of cooperation. The MLS creates an efficient marketplace and reinforces the procompetitive, pro-consumer benefits that REALTORS® have long sought to support. After months of discussion and consideration within NAR’s MLS Technology and Emerging Issues Advisory Board, this proposal was brought forth for the industry to discuss and consider, then approved by NAR's Board of Directors.

You cannot OPT out. The new policy does not include an “opt out.” Any listing that is “publicly marketed” must be filed with the service and provided to other MLS Participants for cooperation within (1) one business day.

Where can we learn more?

Learn More from the National Association of Realtors® - Be sure to read the frequently asked questions and answers!

At a recent High Country MLS Board meeting on 2/11/20 we adopted into our Rules and Regulations these mandated changes sent to our association from NAR.

The change applies to Residential Listings..

Section 1.01 – Clear Cooperation

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. (Adopted 11/19)

Exclusive Listings

Firm (office) exclusive listings are an important option for sellers concerned about privacy and wide exposure of property for sale. Common examples include divorce situations and celebrity clients. Listings must be filed with our MLS and sellers must sign a certification indicating that the seller, the listing brokerage and no other entity cannot publicly market the listing in any way, including by means noted in NAR’s Clear Cooperation policy. In a firm exclusive listing, promotion of the listing between brokers and licensees affiliated with the listing brokerage, and one-to-one promotion among these licensees and their clients, is not considered public advertising. Definition of office is determined by Identifying your Office ID # within the High Country Multiple Listing Service.

Local implementation is required no later than 5/1/2020. If listing broker triggers the one-day rule and does not enter the listing into MLS a Category IV automatic fine would apply $1000.00 Penalties will not be enforced by our MLS until AUGUST 31, 2020