Connecting the Dots: Clear Cooperation and Coming Soon Recorded Webinar and Q&A

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.  

REcolorado’s local implementation of the National Association of REALTORS® Clear Cooperation Rule goes into effect May 1.  To help you “Connect the Dots” and learn the ins and outs of the policy, we have held dozens of overview and question and answer sessions, as well as put together a set of resources, which are 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

Connecting the Dots: Coming Soon and Clear Cooperation

Cooperation and Coming Soon Status in REcolorado Matrix

Coming Soon Period Extended to 14 Days During Pandemic

Printable PDF – Clear Cooperation and Coming Soon Status

Frequently Asked Questions 

When does REcolorado’s Clear Cooperation Policy take effect? 
REcolorado will begin local implementation of our Clear Cooperation Policy on May 1, 2020per the mandate from the National Association of REALTORS®. To give all subscribers time to learn about the policy, warnings will be issued until at least September 2020. 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 MLS’s are an efficient and transparent marketplace that is pro-competitive and pro-consumer. The MLS allows the greatest wide-spread 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 CMA’s, 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 include suppressing the address of the property  and preventing the listing from being displayed on websites. If your seller chooses to opt out of the MLS, which must be memorialized in the listing agreement, the listing will be an “office exclusive listing” and 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.

REcolorado Matrix Search

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. 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; however, listings in Coming Soon status are not searchable in the Client Portal.  

Are Listings in Coming Soon Status available on syndication portals or IDX sites? 
Listings in Coming Soon status are not distributed in data feeds or syndicated feeds so they are not available on syndication portals or IDX websites. 

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 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. 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. 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, 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.  

What is the 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

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, either inside your office or 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.  

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.  

How will REcolorado enforce the Clear Cooperation Policy?  
As with any rule, REcolorado relies on brokers to comply with 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. 

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. 

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.