NAR’s Board of Directors recently passed MLS Statement 8.0, commonly known as the ‘Clear Cooperation Proposal’, which requires all REALTOR® listings to be submitted to the MLS:
MLS Statement 8.0: 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.
MRED subscribers do not need to do anything differently.
MRED’s listing policy has been in place for several years and played a part in the discussions that led to NAR’s policy. As a refresher, MRED’s policy is below:
MRED’s Rules and Regulations Section 1: Listing Procedures: Midwest Real Estate Data accepts listings of real properties, which are listed by a licensed real estate broker and are located within the combined territorial jurisdiction of the Associations/Boards that Midwest Real Estate Data provides services to, and in the State of Illinois and beyond this jurisdiction at the option of the Listing Broker, which shall be placed into Midwest Real Estate Data’s MLS PLN (Private Listing Network) or SLN (Standard Listing Network) (hereinafter referred to as the “Service”) within 48 hours of the effective listing date or within 24 hours after the real estate broker advertises the real property to the general public through a website or utilizes any publicly accessible print advertisements, including for sale signs, whichever is earlier.
There are two differences between the NAR and MRED policies:
- The timeframe to enter listings into the MLS after marketing to the public. MRED’s is 24 hours, while NAR’s is one business day. MRED subscribers must follow MRED policy.
- Definitions of what constitutes “public marketing.”
If you’re interested in learning more about the topic, you can read MRED’s white paper.
Should you have any questions, please contact Vice President of Membership and Dispute Resolution Amanda Withrow.