T
he real estate industry is on the cusp of another significant change, one that will impact buyers and sellers alike. This evolution is nothing new; the industry has consistently innovated to better serve its clients.

    In 1908, agents formed the National Association of Real Estate Exchanges, a precursor to the National Association of REALTORS (NAR). They established a code of ethics and operating policies, paving the way for written agreements like Exclusive Right To Sell or Listing Agreements. The 1960s saw the creation of the first Multiple Listing Service (MLS) in booklet form, creating a true marketplace for inventory.

    In 1992, buyer agency was introduced, giving buyers exclusive representation. In 2019, NAR implemented the Clear Cooperation Policy (CCP) to address concerns around "pocket listings." Now, updates to the CCP are underway, focusing on flexibility and choice for sellers.

    What's at stake? NAR has announced new flexibility in the CCP for NAR-affiliated MLSs, allowing sellers more control over how and when their homes are marketed. Local MLSs will decide:

    * The period of time a listing can remain in "delayed marketing" status before it must be publicly marketed.

    * How days on market are calculated.

    * How price change history is displayed publicly.

    * Any additional rules they want to implement.

    These decisions could significantly impact every buyer and seller in your area. As real estate professionals, you have one job: serving your clients' best interests. The CCP changes affect how both buyers and sellers are served.

    Sellers now have the option to delay public marketing through IDX and syndication of their home on the MLS for a specific period. Local MLSs will determine:

    * The length of the delay.

    * Whether to count days spent in delayed market status as part of the cumulative "days on market."

    * Whether to show price change or sold history of properties in delayed market status.

    Listing agents must secure a signed disclosure documenting informed consent from sellers who choose delayed marketing. Sellers' listings will be entered into the MLS and displayed to participants, but not syndicated or shared through IDX feeds until they choose or the delay period ends.

    You should be part of any discussions that craft policies impacting your clients. These decisions will shape your local market for years and should be made locally with your input.

    If you're a member of a local association or MLS, here's what you can do:

    * Make sure your voice is heard on these decisions.

    * Don't wait – decisions must be made by September 30th, 2025. If your MLS rushed these decisions, ask them to re-engage.

    * Disclose the pros and cons of all options to your clients, sharing relevant data and facts to help them make informed decisions.

    As fiduciaries, you want to ensure that local policies serve your clients' needs above all else. That means making sure local voices guide local decisions. Don't let others decide what's best for your clients – be part of the conversation. Take action today; your clients are counting on you.