NAR iterates on CCP

NAR Introduces New Flexibility for Sellers While Retaining Clear Cooperation Policy

“The Multiple Listing Options for Sellers policy statement was developed following many months of analysis and consultation with MLS and association leaders; brokerages of all sizes; agents; multicultural organizations; and fair housing, policy, technology and legal experts. It introduces a category of exempt listings called “delayed marketing exempt listings.”

The new policy goes into effect immediately, but MLSs have until Sept. 30 to implement the change.”

I’ve often said I look at many things through the lens of a software developer. In software, the best approach is to release your product, gather feedback, iterate, and repeat. The current CCP has been around since 2019—this iteration is long overdue.

I still stand by my belief that these exclusive listing strategies are bad for consumers. The latest study by Zillow, Privately Listed Homes Disproportionately Harm Sellers of Color, is pretty eye-opening. In that report, Zillow states:

“Home sellers who did not list their properties on the Multiple Listing Service (MLS) — a database that allows listings to be openly marketed to all home buyers and agents — lost out on more than $1 billion collectively over the past two years. The harm to home sellers is greater in communities of color. “

Yikes.

Mr. Reffkin and others who proclaim “sellers’ rights” remind me of agents who have only ever worked in a seller’s market. They’ve never seen a buyer’s market. The GFC and the pandemic may have lengthened this cycle, but those of us who’ve been around a while know—the worm is gonna turn. And when it does, they’ll all come running home to mama.