Let’s Clarify: Clear Cooperation Policy and Coming Soon Status

The goal of the Clear Cooperation policy, both nationally and right here at REcolorado, is to protect your right to serve home buyers and sellers by ensuring you have access to accurate and comprehensive listing inventory. Access to a more complete set of listings within REcolorado Matrix ensures you are well-positioned to not only cooperate, but to serve your clients with accurate and thorough information.  

This policy is about stomping out dark silos of information. This policy is about doing what is in the best interest of the consumer. This policy is about making sure all agents have access to all listings and are able to share them with their clients regardless if they know the “right agent” or belong to the right groups.

Denee Evans, CEO, Council of Multiple Listing Services

Not only is Clear Cooperation NAR mandated, but it is also broadly supported by brokers both nationally and locally, including the REcolorado Board of Directors and Rules and Regulations committee. The policy brings important benefits to buyers, sellers, brokers, and appraisers alike by ensuring cooperation, fair housing, and accurate and complete data.

REcolorado’s local implementation of the National Association of REALTORS® Clear Cooperation Rule went into effect May 1, and fines will begin September 1, 2020.

To help you learn the ins and outs of the policy, we held dozens of overviews and question-and-answer sessions, as well as put together a set of resources right here for your convenience.  

If you need additional information, please do not hesitate to send an email to our Customer Care team at support@REcolorado.com.  

Resources

Frequently Asked Questions – Clear Cooperation Policy

When does REcolorado’s Clear Cooperation Policy take effect? 
REcolorado began local implementation of our Clear Cooperation Policy on May 1, 2020, per the mandate from the National Association of REALTORS®. To give everyone time to learn about the policy, warnings have been issued for the first few months. Fines are scheduled to begin in September 2020.  

Does the Clear Cooperation apply to REALTORS® only? 
The Clear Cooperation policy applies to all REcolorado subscribers. When joining REcolorado, all subscribers agree to abide by the REcolorado Rules and Regulations, which include Clear Cooperation.  

Who does the Clear Cooperation policy benefit? 
The Clear Cooperation rule brings benefits to brokers, REALTORS, appraisers, and consumers—everyone. It reinforces the consumer benefit of cooperation and ensures MLSs are an efficient and transparent marketplace that is pro-competitive and pro-consumer. The MLS allows the greatest widespread exposure of relevant, comprehensive inventory and the most accurate data. Having all listings in the MLS gives buyers fair and equal access to all properties, which limits brokerage exposure to potential Fair Housing violations. It also means sellers can count on their property being marketed to the largest pool of potential buyers and real estate professionals, helping to ensure they receive the highest and best offer. 

What are the benefits of Clear Cooperation to brokers? 
The Clear Cooperation policy allows brokers more access to listing data to produce more accurate market stats reports, Broker Price Opinions, and CMAs, which leads to a better understanding of market activity. More complete listing data also means brokers have access to a comprehensive set of listings that can be shared with clients. For REALTORS, this policy helps to ensure compliance with the REALTOR Code of Ethics by advancing the interest of home buyers and sellers as well as cooperating with fellow brokers.  
 
What if my seller doesn’t want their listing in the MLS? 
REcolorado Matrix offers the ability to enter a listing while protecting a seller’s privacy, which includes suppressing the address of the property and preventing the listing from being displayed on websites. In the rare event a seller has extenuating circumstances to request that their listing not be included in the MLS, this must be memorialized in the listing agreement and may only be done as an Office Exclusive, which cannot be marketed outside the brokerage. If marketing occurs outside the brokerage, the Clear Cooperation policy takes effect and the listing must be entered into the MLS within one (1) business day.

When a Seller Doesn’t Want their Listing in the MLS >>

The Clear Cooperation rule says a listing must be in REcolorado Matrix within one day of marketing the property. According to the policy, what is considered marketing?  
Marketing includes, but is not limited to, distributing flyers, flyers displayed in windows, yard signs, brokerage sharing, 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. A listing can be marketed as Coming Soon if it is in the Coming Soon status in REcolorado Matrix. If there is a For Sale sign in the yard and the listing is in the Coming Soon status, a “coming soon” rider or some indication of coming soon must be placed on the sign. 

Can I share information about a listing in my office sales meeting if it is not in REcolorado Matrix? 
Discussing an upcoming listing with fellow brokers inside your office is acceptable. However, discussing the listing outside your office is considered marketing; therefore, the listing must be added to the MLS within one (1) business day as either Coming Soon or Active.  

How will REcolorado enforce the Clear Cooperation Policy?  
As with any rule, REcolorado relies on brokers to comply with the rule and to report policy violations. If you see a violation of the Clear Cooperation policy or any MLS rule, send an email to compliance@REcolorado.com or call 303-850-9576, option 1. All reports are considered highly confidential. 

What are the fines for violating the Clear Cooperation policy?
Violations of the Clear Cooperation policy will result in hefty fines as determined by the Rules and Regulations committee. The first offense will be given a warning. The second violation will result in a $1,500 fine to the listing broker. Repeat offenses will result in a $3,000 fine to both the listing broker and the participant. If five (5) unique brokers in a brokerage violate the Clear Cooperation police, the Participant will be fined $15,000 and suspended immediately.

Does the Clear Cooperation Policy apply to all property types? 
The Clear Cooperation Policy applies to all property types except New Home Community, New Home Plan, New Home Spec, Business Opportunity, and Specialty. 

Frequently Asked Questions – Coming Soon Status

status search active coming soon

Who can see listings in Coming Soon status? 
Listings in Coming Soon status are visible to all REcolorado subscribers. You can view Coming Soon listings in your REcolorado Matrix Market Watch Widget and HotSheets. Coming Soon status is also included in all search forms.  

Can I share Coming Soon Listings with my clients? 
Yes. You can share Coming Soon listings with your clients using a direct email from REcolorado Matrix or the REcolorado App. You can also include Coming Soon listings in auto emails to your clients. Your client can view Coming Soon listings that you sent in either direct or auto emails in their Client Portal and those you’ve shared in the REcolorado App; however, listings in Coming Soon status are not searchable in the Client Portal or REcolorado App. 

Are Listings in Coming Soon Status available on syndication portals or IDX sites? 
No. Listings in Coming Soon status are not distributed in data feeds or syndicated feeds. Coming Soon listings are also not available on syndication portals or IDX websites. Coming Soon listings are only visible to brokers through REcolorado Matrix or the REcolorado App, and only visible to consumers when a broker shares the listing through the REcolorado Matrix Client Portal or the REcolorado App.

house coming soon for sale sign

How long can a listing stay in Coming Soon status? 
According to policy, a listing can be in in Coming Soon status for up to seven (7) days. Due to the coronavirus, the Coming Soon period has temporarily been extended to 14 days. Learn more >> 

What happens to my listing in the Coming Soon status? 
Days in MLS (DIM) does not accumulate while a listing is in Coming Soon status. Listings can manually be changed to Active before the Coming Soon period ends.  

What happens to my listing when the Coming Soon period has ended? 
After the Coming Soon period has been reached, REcolorado Matrix will automatically move your listing to Active and the DIM will begin. You can use the Expected Active Date to schedule when your listing should move from Coming Soon to Active status. The Expected Active Date must be within 14 days from when the listing was submitted in Coming Soon status. For more information about REcolorado Matrix statuses, please reference the ABCs of Matrix Statuses

What if my listing isn’t ready for showings at the end of the Coming Soon period?  
If your listing is not ready for showings at the end of the Coming Soon period, you have two options. 1) You can let REcolorado Matrix move the listing to Active and then update the listing with the date the property will be ready for showings by completing the No Showings Until field. Or, 2) you can change the listing’s status to Withdrawn, which means there is still a valid listing agreement in place and marketing can continue, but there will be no showings until the listing is moved to Active status.  

What is Withdrawn status?  
When a listing is in Withdrawn status, it has a valid listing contract, but is temporarily not accepting showings. A For Sale sign can be in the yard and all marketing can continue. Days in MLS (DIM) pauses and the listing is not included in data feeds. There are various reasons listings are in Withdrawn status including social distancing, the holidays, waiting for marketing material, completing property improvements, etc. For more information about REcolorado Matrix statuses, please reference the ABCs of Matrix Statuses

Can I conduct showings if my listing is in Coming Soon status? 
Showings of any kind are not permitted while a listing is in Coming Soon status. A listing must be in Active status in REcolorado Matrix before showings are held. This includes broker showings, virtual showings, open houses, and virtual open houses.  

If you have any questions about Clear Cooperation or Coming Soon status, please feel free to reach out to REcolorado Customer Care at support@REcolorado.com or 303.850.9576, option 1.