"Listings of Real Property which are listed subject to a real estate broker’s license and located within the service area of the BSC MLS must be submitted to the MLS for cooperation with other MLS participants by 11:59 pm on the third (3rd) weekday after a listing agreement goes into effect, OR within 24 hours of marketing a property to the public. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public-facing websites, brokerage website displays, digital communications marketing (email blasts), multi-brokerage listing sharing networks, social media, or applications available to the general public."

IN LAYMAN'S TERMS

If you take a listing that is considered a required property type, on 40 acres or less, located within the BSC MLS service area, you have 3 weekdays to enter it. If at any point during the time the property is not on the MLS as an Active listing you begin to market that property to the public, you now have 24 hours to enter it on the MLS.

WHAT IF MY SELLER DOESN’T WANT IT ON THE MLS, OR THE PROPERTY ISN’T READY TO BE ON THE MLS?

Suppose the seller refuses to permit their property to be disseminated by the MLS, and the property will not be advertised to the public through any of the methods mentioned in the first paragraph. In this case, you may then take the listing “Office Exclusive”. The "Office Exclusive - Not to be on MLS" form must be submitted within 3 weekdays after a listing agreement goes into effect.

EXPLAIN “OFFICE EXCLUSIVE”

“Office Exclusive” listings may only be marketed within the listing office. If at any point during the term of the listing agreement, the property is marketed to the public, the listing must be submitted to the MLS within 24 hours.

With an “Office Exclusive” listing, direct promotion of listings between the brokers and licensees affiliated with the listing office, and one-to-one promotion between these licensees and their clients is NOT considered public advertising.

WHO CREATED THE POLICY?

The policy was created by the National Association of REALTORS® (NAR) Emerging Trends & Technology Committee, the NAR MLS Issues and Policies Committee, and the NAR Board of Directors.

WHY?

For years the National Association of REALTORS® (NAR) has been tracking the erosion of cooperation among MLS Participants/Subscribers. This erosion seems to be provoked by actions that benefit the REALTOR® over their Seller’s needs and is a blatant violation of the REALTOR’s® ethical and MLS cooperation obligations.

This policy is intended to reintroduce the important role cooperation plays in ensuring and facilitating the competitive nature of organized real estate. This vital process of competition is exceedingly pro-consumer. The policy comes at a time when some have been and are currently innovating the death of the organized real estate marketplace. This policy has been endorsed by NAR legal counsel and passed with overwhelming majorities in the policy-making process.

FAIR HOUSING:

By not disseminating listings through the broad exposure of the MLS, some are choosing to exclude in favor of “Exclusive” networks or focused advertising. This leads to a concern that many protected classes of buyers are not allowed equal opportunity at homes that other buyers are afforded.