The Clear Cooperation Policy is the result of surveys conducted by the National Association of Realtors regarding “Pocket Listings” also known as “off-market” homes for sale. What the survey revealed was that the last people to hear about these homes for sale were people of color. NAR put this new law into effect on January 1, 2020, with implementation and enforcement to begin on May 1, 2020.
It’s a good policy, and long overdue: The policy is Pro-Consumer because it equally protects both buyer’s and seller’s best interests. It adds transparency to the home-buying process. It ensures sellers the best market exposure and ensures buyers that they have a fair and equal opportunity to buy, and helps avoid liability issues when there is limited exposure without full disclosure.
For real estate professionals, this policy eliminates the need to hunt for pocket listings, track coming soon lawn signs, and scour Zillow and Social Media sites endlessly for off-market properties.
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