In today’s real estate market, homeowners are often told they must follow a one-size-fits-all approach to selling their properties. The National Association of Realtors’ (NAR) “Clear Cooperation Policy” mandates that homes be listed on the MLS within a day of being publicly marketed, which might sound like a step toward transparency. However, as Compass CEO & Founder Robert Reffkin points out in his latest op-ed, this policy may actually limit a seller’s freedom and lead to unintended consequences.
In his article, Reffkin highlights several key concerns about the Clear Cooperation Policy that every seller should be aware of:
- Risk of Public Price Drops: When homes are exposed on the MLS too soon, they face the possibility of price reductions that become highly visible to potential buyers. This can reduce a home's perceived value, affecting negotiations and final sale prices.
- Sale of Homeowner Data: Sellers may not realize that their personal information and data related to their home’s sale can be sold by third parties, leaving them vulnerable to unwanted solicitations or privacy concerns.
- Lack of Flexibility: Homeowners lose the ability to test the waters before fully committing to an MLS listing. By being forced to list publicly, they miss out on off-market opportunities that may better suit their needs, whether it's a more private sale or strategic timing.
Why Transparency and Choice Matter
Reffkin advocates for giving homeowners the power to decide how their homes are marketed. Not all sellers have the same goals—some might want a quiet, off-market sale, while others may prefer the broad reach of an MLS listing. The key is offering sellers the choice and control over their own transactions, rather than being bound by a restrictive industry standard.
As the real estate market continues to evolve, the industry must adapt to ensure that homeowners' rights and preferences are prioritized. Transparency doesn’t mean limiting choices—it means providing clear options and empowering sellers to make the best decisions for their unique situations.
If you're considering selling your home and want to explore all the marketing options available to you, reach out to learn more about how we can tailor the strategy to your needs.
Read Robert Reffkin’s full op-ed on Inman here.
