A controversial ban on pocket and off-market listings that was approved last year is going to bolster trust and cooperation in the industry and will be a boon to consumers, two industry leaders told a packed room at Inman Connect New York. Pushback over going “clear”: NAR sued for pocket listing ban. Pushback over going “clear”: NAR sued for pocket listing ban May 11, 2020 May 11, 2020 Real Deal LA 0 View CAP: NAR President Vince Malta and TAN founder David Faudman (Credit: YouTube, NAR, iStock) The National Association of Realtors board of directors voted 729-70 in November 2019 to ban the controversial practice of “pocket listings.” It’s a practice that was surging in competitive markets such as New York, San Francisco, Los Angeles and Washington D.C. Pushback over going “clear”: NAR sued for pocket listing ban.
CAP: NAR President Vince Malta and TAN founder David Faudman (Credit: YouTube, NAR, iStock) The National Association of Realtors is facing a lawsuit for effectively barring its members from taking off-market listings, often called pocket listings. The policy requires brokers to submit a listing to a multiple listing service within a business day of marketing a property to the public.. Much of the backlash to NAR’s policy came from agents who take on pocket listings and increasing number of private listings platforms that depend on them. Real estate association’s Clear Cooperation Policy, particularly attractive for celebrity home sellers, took effect this month NAR's ban on pocket listings leaves major loophole, consumer advocates say. The pocket listing ban “ensures greater transparency and competition between real estate listings and between brokers, while still addressing privacy concerns,” the statement by NAR Communications Vice President Mantill Williams said. This policy bans so-called pocket listings, where an agent or broker only markets a listing to a select group, rather than sharing the listing across a multiple listing service (MLS) for a wider pool to find. 1 / 1. NAR’s board approved its controversial “Clear Cooperation Policy” late last year. On Nov. 9, about 2,000 Realtors jammed into a large meeting room at San Francisco’s Moscone Center for a forum on the pocket listing ban, with most speakers clearly in …
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