Now that we have been working under the Clear Cooperation Policy for about eight months, it seems a good time to issue a quick refresher on your obligations as established by the National Association of REALTORS. The policy is intended to keep the REALTOR at the forefront of listing information in the market place.
- Have a signed Exclusive Right to Sell (ERTS) or Exclusive Agency Agreement?
- If you put the listing on Facebook, Twitter, Instagram, your website, your firm website, call your circle of associates, put a sign on the property, put a listing sheet in your window, etc. then the listing must be entered into the MLS within 1 business day of the sellers’ signature. (All forms of public marketing!)
- If you have not done any marketing of the property, then you still have 2 business days from sellers’ signature to put the listing in the MLS (same as always).
- Have a signed Exclusive Right to Sell or Exclusive Agency Agreement with an Office Exclusive Addendum?
- You cannot (as per instruction of the seller on the addendum) market the listing outside of your agency (no phone calls, no emails, etc.).
- Send a copy of your ERTS and Office Exclusive Addendum to email@example.com.
- The listing cannot go into the MLS
In April 2020 we posted a more in-depth explanation of the Clear Cooperation Policy and Coming Soon Listings, which includes links to addendums, a training video and the rules & regulations of the MLS. For a refresher, please read that article here.
Please contact Sandy, Sue or Linda if you have further questions!