It’s been a big year for policy change at the National Association of Realtors, and now its leadership is eyeing one more.
Some of real estate’s biggest players are lobbying the industry group to abolish its Clear Cooperation Policy, a rule instituted in 2020 that requires agents to list homes on the Multiple Listing Service. Debates have erupted between proponents and opponents of the policy, prompting NAR leaders to consider a change in the months ahead, according to Business Insider.
On the opposing side are industry giants Anywhere Real Estate, parent company to Coldwell Banker Realty, the Corcoran Group, Century 21 and Compass. Players in favor of ditching or changing Clear Cooperation say that sellers should be able to market their homes on their own terms, and that there are many reasons a required MLS listing could hurt, rather than help, someone selling their property.
Compass CEO Robert Reffkin plunged into the fire with an Instagram post last month, calling for the elimination of Clear Cooperation and the $5,000 penalty for violating the policy.
Oppenheim Group President Jason Oppenheim lambasted Reffkin, commenting on the post that Reffkin wanted to, “hoard an internal inventory of pocket listings,” and arguing that eliminating the policy will hurt smaller brokerages and the majority of consumers.
“The idea that the majority of sellers benefit from not having their home available and accessible to all agents and buyers is laughable,” Oppenheim wrote.
Proponents of Clear Cooperation say it’s an important defense against housing discrimination.
“The fact that every listing is contributed to the MLS and that every consumer has access to that information is an enormous and overwhelming benefit to support fair housing,” Victor Lund, a founder of the real estate consultancy Wav Group, told BI. “There is too much opportunity for housing discrimination without it.”
–– Kate Hinsche