HousingWireHousingWire
eXp Realty is no stranger to the forms business. The company was one of the first to come up with its own buyer broker agreement in response to the business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement.
Given this, it should come as no surprise that the company is launching its own “seller advisory form” in order to comply with NAR’s new Multiple Listing Options for Sellers (MLOS) policy.
This policy created the category of “delayed marketing exempt listings,” which allows agents and their sellers to withhold listings from IDX feeds and syndication while still maintaining the spirit of NAR’s Clear Cooperation Policy.
In order for a seller to utilize the delayed marketing option with their property, they must sign a disclosure agreement that outlines what they are agreeing to and the possible consequences involved.
According to eXp, the purpose of its form — which is titled “Seller Advisory: Risks of Limited Market Exposure” — is to “educate sellers on the real financial risks of withholding a listing from the MLS or public portals like Zillow, Realtor.com, Homes.com, and Redfin.”
The brokerage claims that the form delivers “truthful, plain-language disclosure that puts the seller’s interests first.”
“Seller choice is foundational, but choice without truth is a disservice,” Leo Pareja, the CEO of eXp Realty, said in a statement. “We believe the industry must lead with transparency, not tactics. That’s why we’ve open-sourced this advisory. To give every seller in America a clear view of what’s at stake. We’re not waiting for the industry to catch up. We’re modeling what leadership looks like.”
Pareja also mentioned eXp’s recently announced partnership with Zillow, in which the brokerage agreed to abide by Zillow’s new listing standards. The site is banning any listing that is publicly marketed for more than 24 hours prior to being entered into the MLS. But Pareja said this is not exclusive and eXp will continue sending its listings to other real estate portals.
“This is not about favoring platforms — it’s about delivering consumer transparency at scale,” Pareja said.
Back in August 2024, Pareja said he never intended to become involved in the “forms business.”
“When we realized we weren’t that far out and we had nothing, we knew we did not want to be in a situation post-Aug. 17 where we are creating liability for ourselves and our agents,” Pareja told HousingWire last summer. “So, if nobody else was going to do it, we were going to have to do something to protect our agents in the field.”
Like eXp’s other forms, this form is available to any brokerage, portal or MLS in the country.
