realestate

Collaborative Approach: Industry Experts Recommend

According to a recent WAV Group poll of real estate professionals, only 28% want to keep the policy as-is, with many citing concerns over litigation.

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ccording to a recent survey conducted by WAV Group among real estate professionals, there is little support for keeping NAR's Clear Cooperation Policy as is. The policy, which requires agents to post listing details to the MLS within one business day of publicly marketing a home for sale, has been under attack due to concerns over litigation.

    The survey found that only 28% of respondents believe the policy should remain in place without any changes, while 43% believe it should be removed entirely. MLS professionals were more likely to favor modifications, with 40% preferring to rework the policy.

    Brokerage respondents who favored removing the policy were most concerned about getting named in another round of litigation. They also believed that Clear Cooperation can complicate their work with clients by interfering with their marketing efforts or causing delays in signing a formal listing agreement until after the property is fully ready to list and show.

    On the other hand, MLS respondents who supported revising the policy were most concerned about its enforceability. They indicated that Clear Cooperation is difficult to enforce and would prefer incentives for participation over punishment for noncompliance.

    WAV Group's Victor Lund believes that the issues surrounding the Clear Cooperation Policy should spark debate about who should be creating policy in the first place. He suggests that while NAR has been cautious in making big changes, many in the brokerage and MLS worlds are ready to move on from litigation.

    The survey results call into question the role of NAR in policymaking, particularly in light of ongoing DOJ investigations and the NAR settlement. This week is expected to be pivotal in determining the future of NAR's Clear Cooperation Policy.

Industry experts gather in conference room discussing collaborative approach strategies globally.