According to new policies by the National Association – as of May 1st, REALTORS will be required to enter a listing into the MLS within 1 day of marketing it. Frustrated that you have to hunt for coming soon or pocket listings? This policy is designed to make sure REALTORS who have agreed to cooperate in a MLS have access, at least within the day, of the public knowing about these listings. What does this mean for you? If you take your listing, enter it in the MLS and then market it – nothing will change for you. If you place a lawn sign first (or facebook post or any marketing), then you will have to make sure you get it into the MLS within a business day of that first advertisement. If you take a coming soon listing, have a listing that can’t be seen right away, or have an office exclusive … there will be new rules after May 1st. Many of these are still being worked on.
Here is the handout with the status of what the Berkshire MLS is working on and considering for new policies and forms moving forward. There is opportunity for input and education built into the process. Below is a form you can use to submit feedback (we are taking emails as well) and sharing your thoughts with the workgroup, the MLS Board and everyone in the decision making process. Education will be released in both hard copy and video format in early April.
MLSs can adopt the specific policy language under Listing Procedures. Below are the changes to the NAR model MLS Rules that are mandatory, and polices created locally must support and supplement these rules and cannot contradict them or the intent of the Clear Cooperation Policy. These changes will be reflected in the Model MLS Governing Documents found in the 2020 Handbook on Multiple Listing Policy
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)
Note: Exclusive listing information for required property types must be filed and distributed to other MLS Participants for cooperation under the Clear Cooperation Policy. This applies to listings filed under Section 1 and listings exempt from distribution under Section 1.3 of the NAR model MLS rules if it is being publicly marketed, and any other situation where the listing broker is publicly marketing an exclusive listing that is required to be filed with the service and is not currently available to other MLS Participants.
Section 1.3 Exempt Listings
If the seller refuses to permit the listing to be disseminated by the service, the participant may then take the listing (office exclusive) and such listing shall be filed with the service but not disseminated to the participants. Filing of the listing should be accompanied by certification signed by the seller that he does not desire the listing to be disseminated by the service.
Note 1: Section 1.3 is not required if the service does not require all (indicate type[s] of listing[s] accepted by the service) listings to be submitted by a participant to the service.
Note 2: MLS Participants must distribute exempt listings within (1) one business day once the listing is publicly marketed.See Section 1.01, Clear Cooperation.