Nov 5, 2019
The new policy is a response to limited-exposure and 'coming soon' marketing practices and would require agents to share exclusive listings with MLS members
The “Clear Cooperation Policy” was announced Friday and would require agents and brokers to share any listings that “are being publicly marketed” with other members of their MLS, according to a NAR statement. Every listing wouldn’t have to end up in any given MLS’s IDX feed. But the listings would at least have to be “available” somehow “so that other participant brokers have access to them and can bring potential buyers.”
“The center of the policy is Bright’s belief that the practice of marketing properties off the MLS, known as ‘pocket listings,’ puts brokers’ own interests before consumers while creating the appearance of (and enabling) fair housing law violations,” Donnellan argues in the letter.
***Realogy teams with AARP to launch reward platform for seniors
The new cash-back rewards platform is another way for the company to generate leads for its agents
Through the program, AARP members will earn either cash-back or a bonus at closing, when they buy or sell a home with an agent at one of the companies brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcoran, ERA, and Sotheby’s International Realty.
Americans over the age of 50 still represent a large portion of the home buying and selling population, according to Realogy, citing the National Association of Realtors’ (NAR) generational trends report, published in August 2019. Americans over the age of 50 made up nearly 40 percent of homebuyers and still represent the largest group of home sellers at 55 percent.
In certain states that don’t allow a cashback bonus, Realogy will offer either a gift card or a commission reduction.
***OfferPad Choice - check out iMinute episode 3