Realtors Ban Pocket Listings
At their recent national meeting in San Francisco, the National Board of Realtors passed a resolution that bans “pocket listings” for realtors participating in its Multiple Listing Service (MLS). The NAR’s board of directors took the step in a resolution entitled MLS Statement 8.0 (also known as the Clear Cooperation policy) which requires listing brokers to submit their listing to the MLS within one business day of marketing the property to the public, effectively ending the practice of “pocket listings.” Local MLSs will have until May 1, 2020 to implement this new policy.
“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. [updated 11/11/19]”