NAR’s Clear Cooperation Decision – Confusion Ahead?
The National Association of Realtors (NAR) just announced that it will keep its Clear Cooperation Policy (CCP) in place. So “same old,” right? Not so fast…
Big things are on the horizon, including a new policy that will add a layer of complexity to how homes are marketed.
On this episode of the Tom Ferry Podcast Experience, Tom talks with one of real estate’s brightest minds, the Co-Founder of 1000Watt, Brian Boero, about what real estate agents need to do in light of the Clear Cooperation Policy developments.
They’ll dive into the potential for retaliation from major brokerages, what the new “delayed policy” means for you, and what we can do in order to steer the industry in the right direction.
If you work in real estate, this Clear Cooperation Policy decision affects your business, so make sure to watch or listen now!
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It is a big deal in an area and state that has no inventory and allow dual agency. Right??! Am I missing something.
I think it was created to benefit companies like Zillow and EXP
What I get from this guy is its no big deal just hide it under a paper for them to sign. But make sure you follow the new changes. He contradicted himself.
It seems like this can benefit a buyer’s agent. A lot of buyers claim they don’t need an agent to help them find the house since they have Zillow, but for the few homes that are listed in this status, it would benefit a buyer to have an agent who has access to these homes. Selling point for your buyer presentation maybe?
Unfortunately the new status delayed marketing etc, still creates days on market. This is not over, I expect a lawsuit between certain brokers and NAR.
This is interesting. In the state of Ohio we have an ethical obligation to do what our clients tell us to do. If my seller wants a private, off market listing, that is what we have to do. Is this common in my market? No. But point is, we work for our clients.
The idea of a private listing in the mls, I personally think is fantastic. The seller loses the idx feed, sure, but it does offer the property to the surrounding market (perhaps supporting fair housing). I still think if a seller does not want the listing in the mls, that is their choice. Our country is slowly but surely getting a little too controlling for me. We live in a free country that needs parameters without telling people how to sell their house!
I don’t get why competitors are telling other competitors how to do business. Cooperation is mandatory under state law and on the basis of fair housing, it is mandatory to comply and cooperate. That being said, consumers have a choice of which listing agents to choose to list their home, and competitors can present their strategy to sellers and the sellers can decide which listing brokerage to choose based on their personal needs. If your company policy is to never do this, use that in your marketing. If your company policy uses this strategy for marketing then put that in your marketing. As long as the listing broker is still promising to cooperate on any listing that is being marketed publicly in any way, then competitors should all have their own marketing strategy. If using the MLS is the best way to market a property (and I believe it is) then the best listing agents will use that tool. And they do. Clear Cooperation didn’t exist up and until 2019 and all agents used the MLS before that. In my opinion, It’s the best way to market, but competitors should compete for business and each have their own strategy.