It’s our CMLS Conference Pre-Show Podcast!  In an effort to curb the rampant growth of Coming Soon listings, NAR’s Multiple Listing Issues and Policies Committee has issued a proposal to clarify the Clear Cooperation Policy. But will the guidelines actually put an end to pocket listings? Are the rules a good compromise? Or should the MLS die on the hill of all-or-nothing, requiring members to list there first?

 

On this episode of Industry Relations, Rob and Greg discuss NAR’s draft MLS Policy Statement 8.0, exploring whether the guidelines go far enough in preventing exclusive listings. Rob explains why the 24-hour submission window and the concession around office exclusives are a problem, arguing that the MLS must take a stand NOW to establish itself as the primary marketplace for property listings.

 

Greg challenges Rob’s view that the MLS is not already the primary marketplace, applauding the 24-hour window as a reasonable and clever compromise and arguing that pocket listings are a breach of fiduciary duty. Listen in to understand Rob’s proposal to extend the all-in IDX rules to MLS membership as a whole and consider how Policy Statement 8.0 will (or will not) impact the pocket listing strategies employed by large national brokerages.

 

What’s Discussed: 

 

Rob’s take that NAR MLS Policy 8.0 doesn’t go far enough

• 24-hour submission window
• Office exclusives not prohibited

Whether the MLS is the marketplace or a data repository

The potential confusion around one-to-one communication

What does and does not qualify as marketing under 8.0

Greg’s view of the 24-hour window as a clever compromise

How Rob defines a primary marketplace as first-in-time

Greg’s challenge that 70% of deals qualifies as ‘primary’

Why Greg sees pocket listings as a code of ethics issue

Extending IDX all-in rules to MLS membership as a whole

How exclusive listings benefit large national brokerages

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

 

Resources:

 

CMLS Annual Conference

NAR MLS Policy 8.0

MLS Technology and Emerging Issues Advisory Board

Rob’s Post on MLS Policy Statement 8.0

Sam Debord’s Response to Rob’s Post

Rob’s Follow Up Post on MLS Policy Statement 8.0

NAR 2019 Home Buyers and Sellers Generational Trends Report

2019 Zillow Group Consumer Housing Trends Report

 

Our Sponsors:

 

Cloud MLX

The Red Dot