Signs, Signs, Everywhere Signs
In 2022, the most frequently reported Clear Cooperation Policy violation remains to be signs on property that has not been listed/entered into the MLS. This isn’t really a surprise as signs are excellent marketing tools. However, the problem arises when a sign is put up without the listing being entered into the MLS within one (1) business day of marketing as required by the Clear Cooperation Policy.
The NTREIS MLS Rules Section 7.01, otherwise known as the Clear Cooperation Policy, states:
“7.01 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.”
Tips To Reduce the Risk of Clear Cooperation Complaints
Enter the listing into the Coming Soon status. Market away since the listing will be compliant with the Clear Cooperation Policy once in Coming Soon status. The Coming Soon status meets the Clear Cooperation Policy requirement to “submit” the listing to the MLS.
- Showings are strictly prohibited while in Coming Soon status.
- Although a Coming Soon listing does not syndicate out to third-party vendors, the listing will be sent to other participants/subscribers’ clients via auto-emails if that status is part of the criteria selected.
- A property may remain in the Coming Soon status for up to thirty (30) days.
- Days on Market (DOM) are not calculated while in this status.
Don’t confuse the Incomplete status with the Coming Soon status. Since an incomplete listing cannot be seen by other MLS participants or subscribers, it does not meet the Clear Cooperation Policy requirement to submit the listing to the MLS within one (1) business day of marketing.
Control your signs. Leaving a sign at a property for “when” the property is ready to be listed in the MLS is not a best practice. With the Clear Cooperation Policy, it does not matter who put the sign up; you are responsible for your sign placement.