BROKER RISK MANAGEMENT
WEEKLY PRACTICE TIP
The Broker Risk Management (BRM) Weekly Practice Tip from March 28, 2025, discussed the basics of the new NAR policy “Multiple Listing Options for Sellers” (MLOS) exception to the Clear Cooperation Policy (“CCP”). Unfortunately, the original announcement left numerous questions unanswered, creating confusion for many brokers, agents and sellers. (For basic details of this new policy, see BRM Tip “New NAR MLS Options for Clear Cooperation Policy.)
The most significant area of concern is the following question: If an agent has a MLOS delayed-marketing listing, what communications from the listing agent (or from any agent in that brokerage) can be made to other brokers without violating the rules of this MLOS policy?
NAR has recently issued a statement that “one-to-one, broker-to-broker communications do not trigger the requirements of CCP; however, multi-brokerage communications about a listing will constitute public marketing under CCP.” Unfortunately, this response begs the question: Which “one-to-one, broker-to-broker” communications are acceptable? For example, which of these communications would comply with this rule?
- An agent in listing office (listing agent or not) shares a MLOS listing with outside broker (OB) agent.
- That same agent sends separate emails to numerous OB agents (“one-to-one”) inviting them to a broker’s open house at the MLOS listed property.
- That same agent sends a complete list of all brokerage MLOS listings to one OB agent.
- The broker/manager separately emails that list of all brokerage MLOS listings to different OB agents or brokers in the market place.
According to NAR, all the above are acceptable under the MLOS rules, so long as the addressee is one person (No cc’s or bcc’s).
BUT….NAR cautions that the listing agent/broker, in contemplating how they intend to market the property, must also take into account how the seller wants their property to be marketed. That means, if the seller wants a “delayed marketing” of the property, an agent should determine how much publicity is that seller comfortable with.
Pursuant to this new MLOS rule, while a delayed marketing exempt listing will still be available to other MLS Participants and Subscribers through the MLS platform, the listing agent should discuss with sellers what other marketing that the seller would like, or would not approve, during this delayed marketing period.
Subject to the seller’s desires expressed in written instructions, the listing broker can place a yard sign, hold open houses and broker opens, advertise the property on the broker website, agents’ websites, other websites and platforms, and “can market the listing in any manner that is consistent with the seller’s needs and interests subject to applicable law.”
For this reason, when this rule goes into effect, NAR will be requiring listing agent to secure written instructions from the seller detailing the marketing that the seller and agent have agreed to within the limitations of the MLOS rule.
RESOURCE: For more information on this topic, see NAR Statement and FAQ at:
https://www.nar.realtor/about-nar/policies/multiple-listing-options-for-sellers#faq
PRACTICE TIPS
- The MLOS policy became effective March 25, 2025 and must be implemented by MLSs no later than September 30, 2025. Check with your local MLS on when they will have implemented this policy.
- BRM anticipates that CAR will be updating its forms to address this change.
- This policy does not change any MLS local deadlines or CCP’s requirement that a MLOS listing be submitted to the MLS within the time required for all active listings.
- Note that during this delayed marketing period NO OUTSIDE BROKER MAY ADVERTISE ANOTHER BROKER’S DELAYED MARKETING LISTING IN ANY WAY IN ANY MEDIUM DURING THE DELAYED MARKETING PERIOD.