HousingWireHousingWire
When the National Association of Realtors’ (NAR) announced its new Multiple Listing Options for Sellers policy, which created the new category of delayed marketing exempt listings, executives at the Illinois-based MLS Midwest Real Estate Data (MRED) were excited that the national trade group was finally coming in line with what they have been doing for years.
“We don’t even plan on making any changes because of the new policy,” Rebecca Jensen, the president and CEO of MRED, said.
After Jensen took over as CEO in 2015, MRED created an internal MLS private listing network after survey feedback from subscribers found that many were frustrated by the number of pocket listings and sales occurring. Under MRED’s policies, a property had to be listed on the MLS within 24 hours of it being publicly marketed, but agents and sellers had the option to put it on a MRED’s private network, which allows other MLS subscribers to see the listing, but it does not syndicate it, allowing the seller more control over how the listing is marketed.
Under NAR’s new policy, sellers have the option to delay marketing their listings via syndication and internet data exchange (IDX) feeds. These listings must be submitted to the MLS, but they will be withheld from IDX feeds for a length of time determined individually by each NAR affiliated MLS. During the “delayed marketing” period, the seller and their agent can market the property however they would like so long as the listing does not appear on IDX feed or is syndicated from the MLS.
Like MRED, Unlock MLS, which is owned and operated by the Austin Board of Realtors (ABoR) in Texas is not expecting the need to make any massive changes, as it unveiled its plan to launch “Flex Listings” earlier this year.
Flex Listings, which were scheduled to launch during the summer of 2025, require less data upon entry, including an optional list price field that does not show price change history or days on market, and are accessible within the platform to all Unlock MLS subscribers. The listings can remain in the database until an agent’s listing contract expires and they are included on virtual office website (VOW) feeds, but they cannot be displayed on VOW or IDX sites.
“While Clear Cooperation has long supported transparency and fairness, it doesn’t meet every seller’s needs, particularly those with privacy concerns or strategic timelines. That’s why Unlock MLS introduced Flex Listings earlier this year, offering a structured option that keeps listings within the MLS while allowing sellers to delay public exposure,” an Unlock MLS spokesperson wrote in an email. “We’re actively evaluating how our existing flex listings framework aligns with NAR’s new guidance and will continue engaging stakeholders as we determine the best approach for our market.”
While this NAR policy change is not the impetus behind changes at MRED and Unlock MLS, up in New Hampshire and Vermont, Prime MLS has some work ahead in order to implement the new policy.
Prime MLS CEO Chad Jacobson said it will ultimately be up to the MLS’ board and leadership to decide how long a listing can be delayed and how they will frame the new option, which they are currently viewing as a status within the MLS.
“This is how we think it can be accomplished but we still need to discuss it with our vendors, however, internally, we think that’s the right way to go,” Jacobson said.
As MLSs across the country look to implement this new policy, these discussions with vendors and the collaboration that results will be pivotal.
“It is important to work with our vendors to create an implementation plan so they are not forced to do hundreds of one-off implementations, doing something different for each MLS,” Jacobson said. “The vendors would rather code at a platform level capability that they can bring to market for multiple MLSs.”
This challenge is top of mind for Council of MLSs (CMLS) CEO Denee Evans. As with any new policy that comes out, Evans said CMLS will convene members to put together some guidance documents on what options MLSs have and how they can go about implementing this policy.
“I was just on a call with some vendors on Friday talking about what is happening and what they don’t want to see is 300 different requests coming in on how to go about implementing this. CMLS already had a group of individual members from our best practice council meet to put together what options MLSs have and then we’ll have the larger group of members review those options.”
Evans is envisioning a “pick your own adventure” type scenario for MLSs, which she says they have done for the implementation of other policies.
“It is all about local market decisions,” she said. “That is what is behind this policy and a lot of the more recent ones. So this would give local markets at least some framework to start from to figure out what they might want to do and how they would want to do it.”
In addition to the vendors, Evans noted that too many different implementations would make things challenging for brokerages, many of whom are just trying their best to comply with the policies.
“We need some efficiencies to help balance implementation with local market decisions as to how the policy best fits the needs for every MLS and its members based on how real estate is transacted there. But having some consistency for implementation is better for our industry versus it being completely fractured and so different between each market — that doesn’t help us as MLSs create an efficient marketplace or an efficient flow or data. So, there is always that challenge of enough consistency and efficiency, but still allowing for local market decisions, as well as innovation and an evolution of how and what we do.”
At Bright MLS, this has meant soliciting input from subscribers and board members.
“We are definitely getting subscriber feedback up and down the chain — from our average subscriber who is out listing properties and going on tours with buyers to the brokers on our board and our industry partners,” Rene Galicia, the executive vice president of customer advocacy at Bright MLS, said. “We want to hear from anyone [who] is consuming our data.”
From there, Galicia said Bright will weigh the feedback against its interests as an MLS, which primarily consists of ensuring the maintenance of an open, clear, transparent and consumer focused marketplace, before implementing any changes.
Although there are challenges in creating an implementation plan, the MLSs who spoke with HousingWire said they like that NAR has given them the ability to tailor this policy to the needs of the agents, brokers and consumers in their market.
“While NAR’s approach adds complexity and additional work for MLS staff and leadership, it also opens up important opportunities. We now have the chance to engage more deeply with our customers through town hall discussions and surveys, ensuring the implementation reflects what works best for our market,” Shayne Fairley, the COO of Florida-based Stellar MLS, wrote in an email. “This flexibility also allows us to deliver added value by educating our users on the policy itself and providing resources to help guide them through the changes and potentially assist with talking points so they can best advise their clients.”
Tim Dain, the president and CEO of Minnesota-based Northstar MLS, is another MLS executive who likes the open-endedness of this policy, but in addition to the length of time MLSs will allow listings to remain “delayed” for, he indicated that we will also see variation in how the policy is implemented.
According to Dain, some MLSs may choose to only apply the new label to Coming Soon or Active listings, inserting a “delayed IDX/Syndication” to distribution options, while others, as Prime MLS has proposed, will create an entirely new listing status.
“Some MLSs allow for showings on Coming Soon listings and others don’t, but NAR’s FAQs indicate that delayed marketing listings must be available for showings, so some MLSs will allow delayed marketing on Coming Soon and others will not,” Dain said. “Since NAR pushed options down to the local MLS there are some nuances that need to come into practice for brokers that operate in overlapping MLS areas and implement/enforce the new policy differently.”
Although NAR’s new policy is certainly forcing some MLSs to undergo platform and procedure changes, MLSs say they are well versed at having to adapt to changes.
“We are consistently evolving our own technology, communicating with vendors about updates or additions, and balancing the implementation of new policy changes, so MLSs are always adapting to something,” Dain said. “But I think the pressure on adapting to this policy shift is a little bit more visible given the polarizing issue at hand, but that doesn’t change the fact that we’ve adapted to changes quickly and we have a good process in place. That said, I expect smart MLSs to utilize the full implementation window provided by NAR as this policy, the FAQs and public (possibly legal) opinion are moving rapidly. It’s much easier to hit the target and limit disruption on subscribers when the target is done moving.”
With any change to the MLS, part of a successful roll out includes ensuring subscribers are educated on the change.
“We communicate heavily whenever there’s any change to one of our customer or user experiences,” Jacobson at Prime MLS said. “This change will require significant education because there will be some very specific guidance on how agents use what we are assuming will be a new status in the MLS.”
As MLSs across the country begin to unpack the policy and create an implementation plan, Evans said she has one ask: to make sure the industry continues to make the consumer its North Star.
“Ultimately we have to make sure that the consumer still has access to all the homes,” Evans said. “So, I just want to make sure as an industry that we are really doubling down on that and keeping it as a focus. I am all about seller choice, but I want to make sure that we are using this to really do that for all consumers.”
