Late last year, the National Association of REALTORS® approved a policy known as “Clear Cooperation,” which requires listings to be entered into the MLS within one (1) business day of marketing a property to the public. Here’s how we’re implementing that policy at REcolorado.
Coming Soon = MLS Exclusive
The new version of REcolorado Matrix introduced a new listing status, Coming Soon. Coming Soon listings are visible to all subscribers, which is also known as MLS Exclusive.
Who can see Coming Soon listings?
Coming Soon listings are visible to all REcolorado subscribers within REcolorado Matrix. You can find Coming Soon listings in the REcolorado Matrix Market Watch Widget and HotSheets. Coming Soon status is also included in Property Type search forms or all applicable Property Types, including the Cross-Property search form.
Brokers can share Coming Soon listings with their clients by direct email through REcolorado Matrix and included in auto emails, which can then be viewed in the Client Portal. However, they are not searchable in the Client Portal. Coming Soon listings are not distributed in data feeds or syndicated to other websites.
How long can my listing stay in Coming Soon status?
You may leave a listing in Coming Soon status for up to seven (7) days.
NOTE: The Coming Soon period is temporarily extended to 14 days during the coronavirus pandemic. Learn more >>
The listing will automatically move to Active status after the Coming Soon period ends. You can change your listing to Active any time before this date.
If you’re planning a shorter Coming Soon period, you can change the Expected Active Date. By default, the Expected Active Date will be set to 14 days after the listing is submitted in Coming Soon status. If your listing is still in Coming Soon status, it will automatically move to Active status at midnight on the Expected Active Date.
Days in MLS will not accumulate while the listing is in Coming Soon status.
Marketing a Listing
Marketing includes but is not limited to distributing flyers, flyers displayed in windows, yard signs, digital communications such as email blasts, multi-brokerage listing sharing networks, applications available to the general public, and digital marketing on public-facing websites including IDX, VOW, and syndication portals.
You may market a listing as “Coming Soon” as long as it is in the Coming Soon status. If there is a For Sale sign in the yard and the listing is in the Coming Soon status, a “coming soon” rider must be placed on the sign.
A listing must be in Active status in REcolorado Matrix before you allow showing of the property. This includes broker showings and open houses.
When Does Clear Cooperation Take Effect?
Per the mandate from NAR, REcolorado began enforcing the Clear Cooperation Policy effective May 1, 2020. We are issuing warnings for violations, and fines are scheduled to begin in September 2020.
For more information, please review Clear Cooperation and REcolorado FAQs or watch the recorded webinar: Connecting the Dots: Clear Cooperation and Coming Soon Status
If you have any questions about Clear Cooperation or Coming Soon status, contact REcolorado Customer Care at support@REcolorado.com