We have reached a point in real estate where technology can both help or hurt buyers and sellers. As a Realtor with 25+ years of experience under my belt, it has always been a focus of mine to put clients first while helping them make smart real estate decisions. This is why The Craig Group is so excited about the Clear Cooperation Policy going into effect March 2020!
So, what exactly is Clear Cooperation? The Clear Cooperation Policy was approved in November 2019 during the REALTORS® Conference & Expo in San Francisco.
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)MLS Clear Cooperation Policy | National Association of Realtors®
What does all this jargon mean for buyers and sellers?
How is this going to positively impact people? Buyers and sellers now have the opportunity to see all the homes on the market. Recently, we have been seeing Realtors post listings only to sites such as Zillow or Realtor.com without ever entering them into the MLS. Or wait to list them within the MLS so it looks like a brand new listing. This strategy is utilized to try and claim both sides of the commission on the sale of that home, leaving buyers and sellers at a disadvantage in the market.
This isn’t right for our buyers and sellers and is why Clear Cooperation was voted into policy. Buyers should have the right to access all of the homes on the market. Sellers should also have the right to competition amongst buyers seeing that their home is one of their largest assets. We believe this policy is meant to protect our consumers and our largest assets, our home values.
If you have any questions, please reach out to us!