As the real estate industry works to implement rule changes triggered by the National Association of REALTORS®’ (NAR) Aug. 17 mandate, further disruption potentially lies ahead as the future of the Clear Cooperation Policy (CCP) hangs in the balance.
Last week, the MLS Technology and Emerging Issues Advisory Board held its regularly scheduled meeting on Sept. 12 and 13, a gathering that was highly anticipated as a forum for debating the fate of the CCP. According to a statement from NAR, however, no decisions were made, and further discussions will take place in October.
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If you are not in the trenches working DAILY with buyers and sellers, please quit creating processes that are not helpful and please quit making sweeping comments about what is best for our industry. If you USED TO be a top agent but are not listing and selling anymore, please sit down and listen to the ones who are CURRENTLY doing it.
While I understand the concept behind changing clear cooperation, the processes that have been put in place are not practical nor beneficial for the consumer. I would never sign a buyer agreement with an agent that I didnt know or had not met in person, especially if they required it prior to even letting me in to see a home. To ask the consumer to do this is ridiculous and shows that the consumer was not the one at the core of this decision.
Newsflash, commissions have ALWAYS been negotiable and in NC we have separated buyer and seller agent commission for a long time. We also could put listings in MLS with no compensation at all being offered. This should be left up to the states to decide and should not be regulated on any sort of national level.
All the attorneys/DOJ/NAR needed to do was REQUIRE a change to the verbiage in MLS from a set % of compensation to “UP TO X%” AND remove any search features that allowed agents to search by compensation amounts. This way we would know that no amount was guaranteed and it would have to be negotiated. AND all listings would show up regardless of compensation offered.