Clear Cooperation and Coming Soon Status in REcolorado Matrix
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.
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 seven (7) 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.
Showing Listings
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 Did Clear Cooperation Take Effect?
Per the mandate from NAR, REcolorado began enforcing the Clear Cooperation Policy May 1, 2020. We issued warnings for violations to start, and fines began in September 2020.
For more information, please review Clear Cooperation and REcolorado FAQs or watch the recorded webinar: Let’s Clarify: Clear Cooperation Policy and Coming Soon Status
If you have any questions about Clear Cooperation or Coming Soon status, contact REcolorado Customer Care at support@REcolorado.com
Thank you. This is a good explanation.
Easy to understand with the diagram. Thank you!
Will you provide a webinar on this? I attended IRES’s but am also an RE Colorado member and would benefit from hearing this from you all too. thank you, Cory
Hi Cory, thank you for your suggestion. We will be holding 3 Connecting the Dots: Clear Cooperation and Coming Soon webinars. Look for registration information on your REcolorado CONNECT page next week. To get more information, you can also view our Clear Cooperation and REcolorado FAQ’s document which includes an infographic explaining the timing of when listings must be entered in REcolorado Matrix.
Hi – Is there a place on my Coming Soon listing to check the date that it would go live as a normal listing (with the Covid 14 day extension)? Thank You!
Hi Colleen, thank you for your question. Yes, there is a field called Expected Active Date that will tell you the date your listing is to go live. It is located at the top of the listing when looking at the listing details.
Are you able to reverse prospect when a listing is in coming soon status or do you have to change to actively to get that information?
Hi Caitlin, the Coming Soon status is an introductory status that is available to MLS subscribers only. It is not available to be marketed outside the MLS or reverse prospected.
good home design
Thanks for the information and clarification. Diagram is very helpful.