Pocket/Off Market Listing
Licensed Real Estate Agents will no longer be able to carry pocket/off-market listings. These will all have to be FSBO. The is due to the new MLS Rule from NAR - expected to go into place May 1st 2020
“Within one business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows yard signs, digital marketing on public-facing websites, brokerage website displays, digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.”
There may be a $2,000 fine imposed by the MLS on a brokerage or a member of a brokerage does not abide by this rule that is anticipated to be implemented on May 1, 2020.