Licensee News – Clear Cooperation Policy and “Coming Soon” Listings

Spotlight

The Division of Real Estate is receiving inquiries and complaints about the Clear Cooperation Policy and “Coming Soon” listings.

In May, 2020, the National Association of Realtors® (NAR) implemented its Clear Cooperation Policy that states:

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)

The goal of this policy was to provide complete disclosure and availability of listings, which in turn would end the practice of “coming soon” or “pocket listings” with MLS participants.

Enforcement of the Clear Cooperation Policy

Please note that the Division of Real Estate does not have any jurisdiction over the enforcement of the Clear Cooperation Policy. Enforcement of this policy is through the Multiple Listing Service (MLS) against its real estate broker members.

Commission Position 44

With regard to “Coming Soon” listings, the Division advises real estate brokers to be cognizant of and review the Commission Position on Coming Soon Listings (CP-44). The position statement outlines a broker’s obligation to exercise reasonable skill and care when advising a seller or landlord of the advantages or disadvantages of different marketing methods. Further, the manner in which the broker and seller or landlord agree to market the property must be memorialized in writing in the listing contract, prior to any marketing being performed.