Agency broker starts petition to overturn pocket listings ban

Controversial NAR policy set to go into effect May 1

Feb.February 26, 2020 02:00 PM
Jamie Waryck (Credit: iStock)
Jamie Waryck (Credit: iStock)

A broker from The Agency is hoping to mobilize support against the National Association of Realtors’ controversial ban against pocket listings, drafting a new petition to urge the repeal of a policy that many agents feel will disrupt the market and hurt their livelihoods.

“It feels as if it was done without a whole lot of thought for the person impacted the most, which is the seller,” Jamie Waryck told Inman. “I, along with several colleagues, find that very frustrating.”

NAR’s policy, which was approved in November and is scheduled to take effect May 1, requires brokers to submit a listing to the Multiple Listings Service within one business day of publically marketing a property.

NAR argues it will help make the business more transparent, but brokers, particularly in high-end markets like Los Angeles, Miami and New York, argue that pocket listings help protect sellers’ privacy and allow agents to be more flexible with asking prices.

“A homeowner should have the right to work with a realtor and decide for him or herself whether the home is sold with full exposure to the public, with limited access to the public, in total privacy or through a combination of any of these based upon the homeowner’s personal wants and needs,” the petition reads. “The National Association of Realtors has decided to remove this right from you.”

Top L.A. agents have previously spoken out strongly against the policy, including Agency CEO Mauricio Umansky and Hilton & Hyland’s Gary Gold.

“I think we should be policed somewhat,” Gold said in October, “but not treated like children.” [Inman]TRD Staff

Related Articles

Anna and David Solomon with the Douglas Elliman's Beverly Hills offices at 150 El Camino Drive (Credit: Solomon Property Group, Google Maps)

Oh, mother: David Solomon leaves Agency for Elliman

Heather Sinclair and Lisa Hatem are first hires in Agency’s Aspen bureau

The Agency expands into Aspen

Do pocket listings have their place in the LA market?

Do pocket listings have their place in the LA market?

Anastasia Soare and the mansion (Credit: Getty Images and Realtor)

Billionaire “Eyebrow Queen” pays $20M for “development opportunity”

Sean Landon and Brendan Fitzpatrick

The Agency loses another two brokers to Douglas Elliman

Mauricio Umansky (Credit: Getty Images)

5 things we learned from Reddit’s obsession with Mauricio Umansky

From left: Eric Lavey, Paul Park, and Hayden Eaves

Movers & Shakers: The Agency’s Eric Lavey joins Sotheby’s, 2 brokers exit JLL & more

Agency broker duped Burbank homeowner into taking out commercial loan: lawsuit

Agency broker duped Burbank homeowner into taking out commercial loan: lawsuit