Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: The National Association of Realtors weighed in with its tweak to the Clear Cooperation Policy. Is it too little, too much or just right?
For months we’ve been talking (and talking) about a big back-and-forth debate among real estate heavyweights on the Clear Cooperation Policy. In the name of consumer choice, some brokerage chiefs wanted to see the policy repealed altogether, while in the name of consumer fairness others wanted the policy to remain or to be adjusted in common-sense ways.
This past week, we finally got an update to the policy. For some, it’s too little too late, while for others it’s much ado about nothing.
NAR opts to keep Clear Cooperation but adds a new option by Taylor Anderson
After months of debate, NAR announced Tuesday it will keep its policy requiring properties to be listed on an MLS within one day of marketing while adding new “delayed marketing exempt listings.” The move comes after months of wrangling among industry leaders both for and against the policy.
The new exemption would allow sellers to have their listing agent hold off on putting a listing on the Internet Data Exchange (IDX) for a set period of time. The timing of the delay would be determined by each individual multiple listing service.
“The new policy does not change an MLS’s local mandatory submission deadlines or CCP and its requirement to file a listing with the MLS within one (1) business day from public marketing,” NAR said.
The buzz over the new wrinkle in its existing policy has been decidedly mixed, with some industry insiders seeing it as a smart way to thread the needle between those who want to keep the policy as-is, others who want more options for sellers, and still others who want to do away with the policy altogether.
However, some analysts see the delayed marketing exempt listings shift as a precursor to an eventual repeal of the policy — or an invitation for more anti-industry litigation and scrutiny in the years to come.
EXTRA: Brokerages, portals react to NAR’s decision to save Clear
Time will tell how the policy change will be implemented and what its impact, if any, will be on the market and on the way listings are managed. In the meantime, Inman contributors are weighing in with their early impressions of the change and its potential aftermath.
Understanding Clear Cooperation’s delayed marketing exempt
Navigating the National Association of Realtors’ amended Clear Cooperation Policy could cause a headache. If you don’t want to lose your mind — or your listings — follow Coach Darryl Davis‘ lead.
The CCP illusion: NAR’s Jedi mind trick on a failing
Compliance expert Summer Goralik examines the new watered-down version of Clear Cooperation announced this past week along with what it means for agents and consumers.
NAR’s CCP compromise is a win-win for consumers:
Brown Harris Stevens CEO Bess Freedman writes that a consumer-forward model that favors transparency is a win for the fair market.
Christy Murdock is a writer, coach and consultant and the owner of Writing Real Estate. Connect with Writing Real Estate on Instagram and subscribe to the weekly roundup, The Ketchup.
