TMLSheader

TMLS Rule Changes - April 1, 2020

PDF version available here:  Download PDF

NAR Clear Cooperation Policy FAQ
Listing Entry Deadline Scenarios
Coming Soon Status FAQ 

 

NAR’s Clear Cooperation Policy/Rule (CCP)

The Policy/Rule

Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.

If the seller refuses to permit the listing to be disseminated by the service, the participant may then take the listing (office exclusive) and such listing shall be filed with the service but not disseminated to the participants. Filing of the listing should be accompanied by certification signed by the seller that he does not desire the listing to be disseminated by the service.

MLS Participants must distribute exempt listings within (1) one business day once the listing is publicly marketed. 

 

Clear Cooperation Policy/Rule – FAQs

Why?

Q: Why is this rule introduced?

A: Brokers and MLSs from across the country asked NAR to consider policy that will reinforce the consumer benefits of cooperation. The MLS creates an efficient marketplace and reinforces the pro-competitive,
pro-consumer benefits that REALTORS® have long sought to support. After months of discussion and consideration within NAR’s MLS Technology and Emerging Issues Advisory Board, this proposal was brought forth for the industry to discuss and consider, and was then approved by NAR's Board of Directors.

Listings Affected

Q: Does the rule apply to all listings?

A: The rule applies to all Land, Multi Family, and Residential (except New Construction) listings .

The rule does not apply to the following types of listings:

·       Commercial Improved
·       Commercial Un-Improved
·       Rental
·       New Construction

Seller Opt Out?

Q: Can a seller or the listing broker “opt out” of the rule’s obligations?

A: No. The new rule does not include an “opt out.” Any listing that is publicly marketed must be entered into the MLS system and provided to other MLS Participants for cooperation within one (1) business day.

 

Q: Can a seller publicly market their own home for sale if the listing is withheld from TMLS? 

A: No. That would be a violation of this rule.

Private Listing Network

Q: Does the rule require listings to be submitted to the MLS if they are advertised to a select group of brokers outside the listing broker's office?

A: Yes. "Private listing networks" that include more brokers or licensees than those affiliated with the listing brokerage constitute public advertising or display pursuant to the rule. Listings shared in
multi-brokerage networks by participants must be entered into the MLS system for cooperation.

Coming Soon

Q: Does the rule limit the ability to market a listing as Coming Soon?

A: No. The rule will not prevent a listing from being advertised as Coming Soon.  The rule states that if a listing is being publicly advertised in any manner, it must be entered into the MLS system within one (1) business day. The MLS system allows for listings being entered as Coming Soon.

Public Marketing

Q: What constitutes Public Marketing?

A: Excerpt from the rule: “Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public

 

Listing Entry Deadline: 1 Business Day

Consistency

In order to align the Listing Entry deadline with NAR’s Clear Cooperation Policy (see below), the Listing Entry deadline will change from two (2) business days to one (1) business day. 

The Rule

 

A listing must be entered into the MLS system within one (1) business day of the later of the Effective Date OR the Delayed Marketing Date as specified on the Listing Agreement.

Listing Entry Scenarios

For Sale Sign

Scenario: Listing Agreement is executed on Wednesday, April 15, 2020. For sale sign is installed on Friday, April 17, 2020.

Solution: Listing must be entered into the MLS by midnight on Thursday, April 16th. Because there is no Delayed Marketing Date, it is the Effective Date that starts the one business day clock. The fact that the sign installation (and other marketing) is later does not impact the listing entry deadline.

Delayed Marketing Date

Scenario: Listing Agreement is executed on Monday, April 13, 2020 with a Delayed Marketing Date of Monday April 20, 2020.
 
Solution: Assuming NO advertisement has taken place prior to the Delayed Marketing Date, the Listing MUST be entered into the MLS by midnight on Tuesday April 21, 2020.

No Showings

Scenario: Listing Agreement is executed on Monday April 13, 2020. Seller does not want showings until Saturday, April 18, 2020..

Solution: Listing must entered into the MLS by midnight on Tuesday, April 14th, 2020. Since no Delayed Marketing Date was specified, the Effective date starts the one business day clock. The fact that the seller does not want showings until later does not impact the listing entry deadline.

Seller Advertising

Scenario: Listing Agreement is executed on Monday April 13th, 2020 with a Delayed Marketing Date of Friday, April 17th, 2020. On Tuesday April 14th, 2020, the Seller announces on Social Media that they are selling their home.

Solution: Due to the NAR's Clear Cooperation Policy, the listing MUST be entered into the MLS by midnight on Wednesday, April 15th, 2020. The Clear Cooperation Policy overrides the Delayed Marketing date.

 

Coming Soon Status

Clarity

To clearly indicate when a listing is not quite ready for showings a Coming Soon status will be added.  Coming Soon will no longer be an option under No Showings.

Defining Coming Soon

 

Coming Soon will be defined as 30 days.

Unless the listing broker has manually updated the listing status, the listing will, at midnight on the 30th day, be automatically updated to Active.

Visibility

 

To enhance the visibility of Coming Soon listings to all brokers and their clients Coming Soon listings will be added to IDX feeds but is not syndicated.

Days on Market

Days on Market (DOM) and Cumulative Days on Market (CDOM) only accrue while a listing is in the Active status.

Documentation

The “Coming Soon / No Showings Form” must be executed and uploaded to a listing within 2 business days of placing the listing in the Coming Soon status. 

 

Coming Soon – FAQs

My Current Listings

Q: What will happen to my current listings that are in the No Showings status with Coming Soon = Y?

A: On the morning of April 1st, 2020, all listings that is in the No Showings status and Coming Soon = Y will be updated to the new Coming Soon Status. 

Q: I have a No Showings, Coming Soon = Y listing prior to April 1st, 2020. How will the 30 days Coming Soon limitation affect this listing?

A: Your listing will be automatically converted the new Coming Soon status on the morning of April 1st, 2020. The 30 day clock will begin on that day (April 1st, 2020).

Searches

Q: How will I search for Coming Soon listings after April 1st, 2020?

A: Searching for Coming Soon will be easier after April 1st, 2020.  Like any other search where you search for specific statuses, you will search for Status = Coming Soon.  There are two benefits to this:

  1. You know that your search results will only include listings that will be made available within 30 days.

  2. You will be able to include Coming Soon listings with Active listings in your searches, without getting listings that are temporarily unavailable.

Q: I currently have saved searches that looks for Status = No Showings and Coming Soon = Yes.  What will happen to these searches?

A: On or after April 1st, 2020, you should update these searches to Status = Coming Soon.

Showings?

Q: Can I show the property while the listing is in the Coming Soon status?

A: No. Showing a listing while it is in the Coming Soon status is a violation of TMLS rules.

No Showings Status?

Q: Is No Showings still available as a status?

A: Yes.  The No Showings status is used when a Listing Broker temporarily blocks showings on a listing (48 hours or more).

 

Q: What is the difference between Coming Soon and No Showings?

A:

Coming Soon

 

No Showings

Can only be used as the initial status on a listing

 

Used each time Showings are blocked for more than 48 hours

A listing sits in this status for up to 30 days.

 

A listing can sit in this status until the listing expires

Coming Soon listings are included in IDX and VOW data feeds.

 

No Showings listings are only included in VOW data feeds

   
SITE MAP
Back to top