There is a lot of buzz surrounding Clear Cooperation lately. Is it a power move by NAR and MLSs or a genuine effort to create a level playing field for buyers?
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Each week on The Download, Inman’s Christy Murdock delves deeper into the top-read stories of the week to provide you with insights to kickstart your Monday. This week: The buzz around Clear Cooperation continues. Is it a power move from NAR and the MLSs or a genuine effort to level the playing field for buyers?
Just when you thought things were settling down, the real estate world has a new controversy on its hands. The National Association of Realtors’ Clear Cooperation Policy has everyone talking, with opposing sides debating its pros and cons.
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Introduced in 2019, Clear Cooperation aimed to enhance transparency and prevent brokerages from holding onto pocket listings to the disadvantage of consumer choice, with “consumers” referring to buyers in this context. Over the years, the policy has faced criticism for being too restrictive and infringing on sellers’ rights to decide how and when their homes are marketed.
With NAR under increasing scrutiny and brokerages and MLSs seeking new ways to demonstrate their value and efficiency, Clear Cooperation might be on the chopping block if certain industry leaders have their way.
This week, Compass founder and CEO Robert Reffkin shared his views on Clear Cooperation, stating that its intended benefits “pale in comparison to the limitations it imposes on homeowners’ consumer choices and an agent’s responsibility to uphold NAR’s Code of Ethics and state laws.”
“By blindly adhering to the Clear Cooperation Policy, Realtors risk perpetuating policies that could do more harm than good. Therefore, it is ethically imperative to challenge such policies in pursuit of practices that truly serve our clients,” Reffkin emphasized.
Regardless of your stance on Clear Cooperation, it’s crucial to comprehend both sides of the major debates in real estate so you can adapt to any forthcoming changes.
Pulse: Why do you (or don’t you) support the repeal of Clear Cooperation?
From legal battles to media attention, the discourse around Clear Cooperation and whether it should be reconsidered is gaining momentum. Share your thoughts in this week’s Pulse survey.
EXTRA: Anywhere joins push to reform NAR’s Clear Cooperation Policy
Meanwhile, having a set of strategies and best practices for working with sellers and buyers will ensure that no matter what new regulations and practices emerge, you’ll always have a variety of ways to serve your clients.
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