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Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Industry heavyweights are all lining up for and against Clear Cooperation. Find out which side of the topic real estate’s biggest names are standing on.
Established by the National Association of Realtors in 2019, the Clear Cooperation Policy has had adherents and opponents from the very beginning. The policy requires real estate brokers to list any property they publicly market on the Multiple Listing Service (MLS) within one business day,
Those on the pro side say that Clear Cooperation promotes transparency by preventing pocket listings, ensures wide distribution of listing information, promotes competition and ensures a more fair playing field for potential buyers.
Those against say that the policy undermines both seller choice and the ability of Realtors to fully fulfill their fiduciary duty to their clients. That’s because for sellers who want to sell without publicly listing on the MLS, whether for reasons of security or discretion, the ability to do so is severely limited by the policy’s requirements.
Now, with buyer’s agent compensation no longer posted on the MLS and with brokerages frantically looking for a powerful differentiator to set them apart in the consumer consciousness, Clear Cooperation is up for grabs — and this week it seemed to be all anyone was talking about.
This week, four of the top five most-read stories were back-and-forth opinion pieces on the topic of Clear Cooperation. As always, we want you to benefit from a variety of voices on all sides of the topic, so that you can form your own opinion based on a measured, balanced view of this important subject.
We went all the way back to July to set the stage. That’s when Compass CEO Robert Reffkin talked about Clear Cooperation during his company’s Q2 earnings call.
Whether you think your mind is made up or you’re just getting up to speed on the opposing viewpoints, we’re rounding up POVs from brokerage heads, MLS execs, current and former agents and more. As Anywhere Brands President and CEO Sue Yannaccone said this week:
“The best approach probably can’t — and shouldn’t — be summarized in a single headline. It’s going to require thoughtful conversations and healthy debate among leaders throughout NAR and our industry at large, something we’ve asked NAR to facilitate openly and transparently.”
Compass CEO: Clear cooperation is ‘anti-homeowner’
Robert Reffkin said clear cooperation forces homeowners into a system that attaches “negative insights” to listings, and predicted the polarizing anti-pocket listing rule is ultimately doomed.
Clear Cooperation takes center stage, faces pressure to change
Officials from the National Association of Realtors are meeting this week to discuss the so-called pocket listing ban — one of the industry’s most polarizing rules, Jim Dalrymple II reports.
Umansky threatens to sue NAR as pocket listing pressure
Agency CEO and founder Mauricio Umansky said he plans to revive a lawsuit against NAR over a pocket listing network. The threat came days after NAR officials convened to reevaluate Clear Cooperation.
Reffkin: NAR’s Clear Cooperation breaks ethics code, state
In challenging the National Association of Realtors’ Clear Cooperation Policy, Robert Reffkin writes, Realtors are upholding their highest moral, ethical and legal duties to serve clients.
Here’s why you do (or don’t) want to see Clear Cooperation repealed
Dozens of you weighed in on this Pulse poll with your thoughts on Clear Cooperation, its pros and cons, and whether it’s time to put the controversial policy on ice.
NAR rival AREA launches petition to end Clear Cooperation
The American Real Estate Association’s call to end NAR’s pocket rule has drawn nearly 3,000 signatures since Friday, when the petition was first uploaded to the Change.org platform, Andrea V. Brambila reports.
Anywhere joins push to reform NAR’s Clear Cooperation
Documents obtained by Inman show Anywhere shares some — but not all — of Compass’ concerns with the rule while on Thursday Compass CEO Robert Reffkin reiterated his call to ditch the policy, Jim Dalrymple II reports.
Some real estate leaders say the focus on Clear Cooperation stems from the recent commission lawsuits. But others see a deeper question about brokerage profits at the heart of the issue, Jim Dalrymple II reports..
NAR vows to assess legal risk of current
New CEO Nykia Wright told NAR’s board of directors the trade group’s next step will be to develop a “comprehensive” litigation strategy and size up any additional legal exposure related to its rules, Andrea V. Brambila reports.
Nearly a hundred real estate professionals shared their thoughts on NAR’s Clear Cooperation Policy with Inman, revealing a schism between supporters and opponents of the controversial rule, Taylor Anderson reports..
While it has its critics, according to former Realtor Oscar Mazaba, thoughtful modifications could ensure that the policy works as it’s intended to while preserving client choice.
Compass founder and CEO Robert Reffkin writes that Clear Cooperation undermines seller choice, putting them at risk of the consequences of a mass exposure of property details.
According to Redfin CEO Glenn Kelman, big brokerages have a vested interest in getting rid of Clear Cooperation, even at the expense of agents and consumers.
In a LinkedIn post, James Dwiggins claimed brokerage leaders fighting to repeal the pocket listing rule are concealing an agenda to hoard listings, recruit agents and generate internal leads.
Realtor.com CEO Damian Eales urges caution on Clear
Eales said the U.S. model of cooperation remains the gold standard — but declined to take a stance on NAR’s policy. “Beware what you wish for,” he said on Wednesday at Inman Connect Austin, Taylor Anderson reports.
Inman Connect Austin kicked off with a spirited debate about Clear Cooperation and the disconnect between brokerage leaders and agents over whether to keep it, Marian McPherson reports.
At Inman Connect Austin, Rachel Hocevar of Compass and Romeo Manzanilla of @properties Christie’s International Real Estate discussed the implications of industry shakeups, Lillian Dickerson reports.
Bright MLS CEO Brian Donnellan takes issue with assertions made by Compass CEO Robert Reffkin in his Oct. 8 op-ed for Inman on the role of MLSs in promoting Clear Cooperation.
Local Realtor association won’t enforce NAR Clear
The Park City Board of Realtors informed the National Association of Realtors it would no longer require agents to comply with the pocket listing rule due to fear of litigation, Andrea V. Brambila reports.
NAR rival seeks agents for possible class action over Clear
The American Real Estate Association is looking for those ‘fined or otherwise harmed’ by the National Association of Realtors’ pocket listing rule and are interested in “collective action,” Andrea V. Brambila reports.
Anywhere Brands President and CEO Sue Yannaccone offers a measured, thoughtful assessment of the Clear Cooperation Policy debate.
