NAR President Discusses New MLS Policy

WASHINGTON—The National Association of Realtors has released a video of NAR President Kevin Sears discussing the newly announced MLS policy and Multiple Listing Options for Sellers.

The following is the full transcript of Sears’ presentation. To view the video, go to: https://www.nar.realtor/videos/nar-president-discusses-new-mls-policy.

Kevin Sears: “Hello. I am Kevin Sears, the 2025 President of the National Association of Realtors here to talk about our review of the Clear Cooperation Policy (CCP) and our new MLS policy called “Multiple Listing Options for Sellers.” For some background, we regularly evaluate MLS policies to make sure they serve our members and consumers (and) are minimizing potential legal risk. Our goal since the start of our assessment of CCP eight months ago has been to foster and efficient, fair and transparent real estate market and to help our members carry out their ethical duty to put their client’s interest first. We consulted with stakeholders from across the industry, including MLS leadership, association executives, brokers, agents, our multicultural partners and fair housing, policy, technology and legal experts.

And after that detailed and thorough consultation, we reached an outcome that promotes individual choice, while also reinforcing a system of openness for all. With that in mind, NAR recently introduced its new MLS policy called ‘Multiple Listing Options for Sellers,’ which creates a new category of exempt listings called ‘Delayed Marketing Exempt Listings.’ This new policy exists alongside CCP and does not change an MLS’s local mandatory submission deadlines or the Clear Cooperation Policy. MLS participants working with sellers are still required to file a listing with the MLS within one business day from public marketing per CCP. Office exclusive exempt listings also remain an option for sellers.

Here's how the new MLS policy works. It will allow a seller to instruct their listing agent to delay marketing a home listing through IDX and syndication for a set period of time determined by each local MLS. During the delayed marketing period, the listing is fully available on the MLS to other MLS participants so they can inform their consumers, arrange showings and/or submit offers like other active listings in the MLS. The Delayed Marketing Exempt Listing can also be advertised in any way the seller and their agent see fit. This could include yard signs, posting to a website, or any other of the many strategies to market a property for sale. Sellers who choose to pursue an exempt listing, whether that be a delayed marketing or office exclusive option, will need to sign a disclosure saying they are aware of their options and are making an informed decision about waiving the benefits of immediate public marketing through IDX and syndication.

With this new policy, agents who participate in the MLS and their buyers will continue to have access to new properties in a timely manner in support of fair housing and healthy competition in the market. At the same time, it allows for more choices and options for sellers. The new policy is effective as of March 25, (2025) and must be locally implemented by Sept. 30, 2025, giving MLSs time to make necessary policy and technology changes. We encourage MLSs to consult with brokers and stakeholders in their market to help determine the allowed time period for delayed marketing exempt listings that will work best for members and consumers in their respective marketplaces.

I am grateful for the support, engagement and passion that the NAR membership showed throughout this process and I am pleased that we found a solution that reflects the best and balanced interests of consumers, our members and the industry. For more details on this policy, please visit facts.realtor where you can find FAQs, a consumer guide to exempt listings and other resources. Thank you.”

Editor’s Note: The National Association of Realtors announced the new MLs policy on March 25. For further information, see the Real Estate In-Depth story at: https://realestateindepth.com/nar-retains-clear-cooperation-policy-introduces-new-mls-policy-to-expand-consumer-choice/