Which of the following listings would be required to adhere to the clear cooperation policy?
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May 1, 2020 Dear Members: Mandatory compliance of the MLS Statement 8.0 Clear Cooperation Policy starts today: May 1, 2020. Background As we have covered in previous communications, the National Association of REALTORS® Board of Directors considered the practice of "pocket listings" and "coming soon listings" at the 2019 REALTORS® Conference and Expo in San Francisco last November. They reached the consensus that the real estate market is optimized for sellers, buyers, and brokers when all aspects of the REALTOR® Code of Ethics are followed and when market data, including all listings, are presented in a complete, accurate, and timely manner on the MLS systems. Thus, to ensure a fair and efficient real estate market moving forward, NAR's Board of Directors adopted an MLS Statement 8.0 Clear Cooperation Policy at November's REALTORS® Conference and Expo. SFAR then incorporated a Clear Cooperation Policy into our MLS Rules as of January 1, 2020 with enforcement beginning today, May 1, 2020.Rule It’s simple: Within one 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:
HOW TO COMPLY WITH CLEAR COOPERATION
Compliance is also easy: once you know you are starting any activity defined as public marketing by the new rule, you have a responsibility to submit the listing to SFARMLS as either Coming Soon or as Active. You can set the On-Market Date of a Coming Soon listing to be any date that is before your listing agreement’s expiration date. If you change your listing agreement, you can change the On-Market Date without restriction or penalty. If the listing is Closed before it comes to market, you can fill out the revised Comparable Sale Request form within 30-days and have it changed to Sold Off-MLS so that you can still get appropriate market activity credit for you, and your office. Non-Compliance The SFARMLS team’s responsibility is to assist all members with the process of adhering to all of the rules. Upon discovery of a listing that is not in compliance, the first action will be to reach out to the listing agent to help them with submission of the listing as Coming Soon (or Active, if appropriate) within one business day. In the event that the listing is not submitted to the service after notification is sent, a violation assessment can be made against the listing agent in the amount of $5,000 (violation fine level E). It is important to note that once a listing’s absence is verified, and the listing agent has been contacted and assessed, this violation will not be waived. It is the responsibility of the listing agent to input the property as Coming Soon or Active once public marketing activities have started as described by the national and state level rules. Waiting for notification of non-compliance may result in an irrevocable assessment if you fail to respond to the first notice in time. We encourage you to avoid that situation by submitting the listing prior to, or on the day of, your first public marketing activities.
SFARMLS has revised three webforms related to the MLS Statement 8.0 Clear Cooperation Policy. You can find all of the SFARMLS webforms in the Links & Documents section of the MLS, and also here on the SFAR website: https://my.sfrealtors.com/mls-forms-and-information-menu - Use the CLEAR COOPERATION CHECK form to manually submit a check request regarding a missing non-cooperated listing. You will need to provide screenshots, or a valid publicly visible URL (or both) with this request. Check requests are held confidentially. - If you have an Office Exclusive or Coming Soon listing that you need to update as Closed, use the revised COMPARABLE SALE REQUEST form. This may trigger a Clear Cooperation check (as above). - When you take a listing that is truly to be kept off of the MLS, you should still use the EXEMPTION CERTIFICATION form to declare that you have a valid signed SELM form to do so. This means that you positively certify that your seller wishes to forego any type of public marketing as defined by Clear Cooperation. The log of these certifications is referenced as part of our Clear Cooperation check process. Important MLS Statement 8.0 Clear Cooperation Policy Resources Our SFARMLS team is ready to answer any questions about the MLS Statement 8.0 Clear Cooperation Policy. Please reach us at This email address is being protected from spambots. You need JavaScript enabled to view it.. Thank you, Marc Dickow, SFAR 2020 President Jay Pepper-Martens, SFARMLS and IT Director #PutItOnTheMLS What is a pocket listing in Florida?A "Pocket Listing" occurs when a real estate agent markets a home within his realtor network, attempting to get a contract, prior to actually listing it for the public on the MLS.
What does MLS stand for?A multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. An MLS allows brokers to see one another's listings of properties for sale with the goal of connecting homebuyers to sellers.
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