Understanding NAR’s New Policy on Delayed Marketing Listings: Key Insights and Strategies
The landscape of real estate marketing is evolving, and recent updates from the National Association of Realtors (NAR) have introduced significant changes regarding delayed marketing listings. If you’re a seller, agent, or marketing professional in the real estate space, it’s essential to understand how these modifications can impact property sales strategies. In this article, we will dive into the critical aspects of NAR’s policy, providing you with the clarity you need to navigate the new terrain effectively.
What Are Delayed Marketing Listings?
As a seller or real estate agent, you’re likely familiar with the prevalence of online listing portals like Zillow, Homes.com, and Realtor.com. However, under the new guidelines, delayed marketing listings will not appear on these platforms that utilize IDX feeds. Initially, this raised questions about how sellers using this strategy could effectively market their properties. Thankfully, NAR has clarified several points through their Frequently Asked Questions regarding this policy, offering much-needed guidance.
Key Differences Between Delayed Marketing Listings and Office Exclusives
MLS Visibility: Unlike listings that fall under the office exclusive carve-out of the existing Clear Cooperation Policy (CCP), delayed marketing listings are submitted to the MLS and are visible to all MLS participants. This means that while they remain exclusive, there’s a level of visibility that can facilitate interest among potential buyers.
Syndication Rules: For office exclusives, sharing across multiple brokerages automatically triggers CCP stipulations, necessitating submission to the MLS within 24 hours. In contrast, delayed marketing listings can be shared across brokerages without immediate syndication through IDX feeds, granting more flexibility to sellers and agents.
- Marketing Flexibility: Another significant divergence is that agents can utilize various marketing strategies for delayed listings. This includes:
- Placing “for sale” signs on properties
- Distributing flyers
- Including these listings in client email newsletters
- Promoting the listing in ways that align with the seller’s interests
Such options empower sellers and agents to exercise creativity and responsiveness in their marketing efforts.
Utilizing Virtual Office Websites (VOW)
Adding another layer of strategy to the mix, NAR has permitted delayed marketing listings to be displayed on Virtual Office Websites (VOW). According to NAR’s guidance, a VOW display serves as a tool for enhancing brokerage services to consumers with an established broker-client relationship, rather than for public advertisement.
However, it’s important to note that VOW displays must comply with specific requirements outlined in NAR’s MLS policy. Unlike public listings, consumers must register to access a VOW site, ensuring that the interactions are locked behind a privacy barrier, fostering a more qualified lead environment.
The Local MLS’s Role in Implementation
An intriguing aspect of NAR’s policy is the flexibility granted to local MLSs in implementing the components of delayed marketing listings. Each MLS has the authority to determine:
- How long brokers can delay a listing from syndication
- Whether to track days on market for delayed listings
- How to display price change history
As noted in NAR’s FAQs, “Each MLS has discretion to determine whether to track days/time on market information for a delayed marketing exempt listing and how to report it.” This creates variability in how different regions will enforce the policy, making it imperative for real estate professionals to stay informed about their local MLS rules.
The Ongoing Debate: Days on Market and Price Change History
The management of days on market and price change history remains a highly discussed topic. Critics argue these metrics can potentially harm sellers, while advocates insist they provide necessary insights for buyers. As local MLSs determine how to handle these metrics, stakeholders must stay engaged in this ongoing dialogue—understanding the implications for both sellers and buyers.
Conclusion: Navigating the New Marketing Landscape
With NAR’s updates on delayed marketing listings, the path to effectively marketing properties is reshaping. Local MLSs now hold significant power in deciding how these guidelines are implemented, making it vital for agents and sellers alike to remain educated about their local practices. As the real estate market continues to adapt, staying informed will help you navigate these changes with confidence and agility.
For further information on NAR’s policies, consider visiting their official site. This newly clarified landscape presents opportunities for innovative marketing strategies that can lead to successful sales outcomes. Are you ready to leverage these changes to your advantage?
