Prepare yourself to take bold steps forward by refining your business model, mastering new technologies, and discovering strategies to capitalize on the next market surge at Inman Connect New York. The Next Chapter is about to begin. Be part of it and join us and thousands of real estate leaders from Jan. 22-24, 2025.
As the commission lawsuits saga enters a new chapter, the industry is now focusing on Clear Cooperation, a policy by the National Association of Realtors that aims to crack down on “pocket listings.” This policy has been a topic of debate and will be revisited by an NAR committee later this week to consider potential changes or its removal.
The upcoming NAR meeting in Chicago will gather the Emerging Issues Advisory Board to discuss Clear Cooperation. While the outcome is uncertain, the meeting marks the first step towards potential changes. A recent survey conducted by the WAV Group revealed mixed opinions on the policy, with some recommending keeping it as-is while others suggest changes or removal.
What to Expect at the Meeting
The closed-door meeting will include brokers, MLS executives, and technology experts to deliberate on Clear Cooperation. Potential outcomes include referring the issue to the MLS Committee or gathering more information at upcoming NAR events. The meeting does not guarantee any specific changes but is a crucial initial step in the process.
Clear Cooperation has been a polarizing policy since its adoption five years ago, with arguments revolving around privacy versus equitable access to housing. While some support the crackdown on pocket listings for fair housing access, others believe in the freedom of marketing properties as agents see fit. The effectiveness of Clear Cooperation is also a point of contention, with reports suggesting that pocket listings may still be prevalent despite the policy.
As the industry awaits the outcome of the NAR meeting on Clear Cooperation, the future of real estate rules and practices remains uncertain. Stay tuned for updates on this evolving issue.
Miller has observed a decrease in the prevalence of such listings as a proportion of total listings. Pressure to change is unlikely to diminish anytime soon, which means that the need for adaptation will continue to persist.
For further inquiries, feel free to contact Jim Dalrymple II via email.
Please note that the provided content has been rewritten to ensure uniqueness and compatibility with a WordPress platform, while retaining the original HTML formatting and key points.