The National Association of REALTORS® reaffirmed that multiple listing services (MLSs) have discretion to set their own rules and policies regarding listing statuses following the late-February announcement that Compass will market its “coming soon” status and private listings on Redfin.
“NAR respects the rights of individual brokers to make their own business decisions and does not comment on specific brokerage practices or business models,” a spokesperson said. “NAR does not have a national policy regarding coming soon statuses. Listing statuses are matters of local discretion, with each MLS determining the appropriate statuses for its marketplace. Brokers and agents who choose to participate in an MLS agree to comply with that MLS’s policies and rules, which are designed to benefit consumers and their marketplace.”
Compass International Holdings’ global network of real estate professionals includes @properties, Better Homes and Gardens Real Estate, CENTURY 21, Christie’s International Real Estate, Coldwell Banker, Compass, Corcoran, ERA and Sotheby’s International Realty.
NAR’s statement echoes its long-standing position that sharing properties on the MLS provides for transparency in the marketplace.
“NAR values the pro-competitive and pro-consumer benefits of MLS, including broad market exposure, access to available properties for sale in a marketplace, and equal access to the public,” an NAR spokesperson said. “We will continue to protect and advance the rights of Americans to own real estate and to support consumers throughout the home buying and selling process.”
NAR has evolved MLS rules in recent years following feedback from members and internal risk mitigation efforts. It introduced the Multiple Listing Options for Sellers (MLOS) last March to provide sellers working with listing brokers more options and choice in determining the best marketing strategy that meets their needs and interests. NAR also modernized its MLS handbook in November.
