An important message from John Mosey, President & CEO of NorthstarMLS:
Last November, the National Associations of REALTORS® Board passed Policy 8.0, also known as the Clear Cooperation Policy.
The Clear Cooperation policy makes clear that the MLS exists for cooperation and compensation among brokerages. If you belong to the MLS, cooperation is the first, not the last, option to promote a listing. The intent is to strengthen cooperation and address concerns surrounding off-market listings, particularly pocket listings and private listing networks that exclude many consumers.
In response to NAR’s Clear Cooperation Policy, our Board of Directors has made the following effective as of 3/1/2020:
In the event a Withheld (i.e. Office Exclusive) listing is publicly marketed during the term of the listing, then:
• Within one (1) business day of marketing a property to the public, the listing broker must enter and submit the listing to the MLS for cooperation with other MLS Participants (Active or Coming Soon status if not yet Pending/Sold).
• Examples of public marketing include but are not limited to: Broker and other public websites, any digital marketing (such as email blasts), yard signs, fliers displayed in windows, private listing networks.
• All Withhelds are now considered “Office Exclusives” that may not be publicly marketed (unless entered into the MLS for cooperation within one business day of marketing).
• All listings still must be entered into the NorthstarMLS Add/Edit system within two business days of the Listing Agreement Date (or within one business day if public marketing starts on the Listing Agreement Date). Withhelds (office exclusives) still must be entered into the Add/Edit system in Withheld status within two business days of the Listing Agreement Date.
• Fine for violation: $1,000 for first violation. Fines escalate for additional violations.
• Exempt from this Policy: Commercial, Rental, and new construction developments with multiple properties (single family homes, condos, etc.).
While the above covers most of the basics, we have also created a web page resource with more information, including answers to frequently asked questions. We recommend taking time to review this information. If you still have questions regarding interpretation/implementation of the policy, contact our Rules Department at firstname.lastname@example.org.
If you have any doubts or concerns about the importance of this policy mandate as it affects the best interest of buyers, sellers and your fellow Realtors, please contact me at email@example.com to explain and I will follow-up personally.
President & CEO