We've got data on a very broad survey of almost 3 million listings done by credentialed economists that shows that sellers typically leave money on the table if they sell their home off market.
Repealing the National Association of Realtor's Clear Cooperation Policy could not only lead to a mad dash by brokerages to capture more private listings, it would have consequences for agents, consumers and the notion of "a fair and democratic housing market."
It's been a tough year for the National Association of Realtors, from its landmark settlement in the commissions suits to ongoing DOJ scrutiny and an industry-wide battle over Clear Cooperation — but NAR is ending 2024 on a strong note when it comes to its overall membership count.
A proverbial line has been drawn in the sand in the intensifying debate over NAR's Clear Cooperation Policy — a rule that requires agents to add their listings to the MLS within one business day of publicly marketing a property.
While some may criticize platforms like Zillow or Realtor.com, not listing a home on the largest real estate portals is, in my view, a breach of fiduciary duty and could easily lead to Fair Housing violations by hiding inventory from certain buyers.
When reached for comment, an Anywhere spokesperson said the company has consistently advocated for changes to Clear Cooperation, but emphasized that "reform does not mean repeal," adding that "there are nuanced alternatives to the existing rule that would better advance consumer interests by providing for more seller flexibility while preserving broad access to listings for home buyers."
Based on the results of a recent survey completed by 671 real estate professionals, consulting firm WAV Group found that only 28% of respondents believe the Clear Cooperation Policy should remain in place with no changes, while 29% prefer to modify it or make it optional, and 43% said it should be removed entirely.
"NAR is absolutely not involved," Lund responded when asked about any collaboration or input from the powerful trade association, though he concedes for full disclosure that several current and past clients are on the Emerging Issues Advisory Board.
