Coldwell Banker Helps Agents Comply With New MLS Rules
January 10, 2020
Coldwell Banker launched a national program this week called “Exclusive Look,” which gives its agents the ability to preview properties one day before the listings go live on the MLS. Coldwell Banker says the program, which also enables agents to share brokerage exclusives within the network, is compliant with the National Association of REALTORS®’ Clear Cooperation policy.
NAR’s Board of Directors approved the policy in November to address the growing practice of limited exposure listings. The policy requires listing brokers who are participants in an MLS to submit their listing to the MLS within one business day of marketing the property to the public. It does not prevent brokers from taking office-exclusive listings.
“There is power in numbers,” says Coldwell Banker President and CEO Ryan Gorman. “In the past, Coldwell Banker agents have relied on methods such as personal emails, social media, and word of mouth around their local offices to promote upcoming listings. Through the ‘Exclusive Look Sneak Peek’ tool, they have access to as many as 47,000 agents who can view newly listed properties. In addition, a ‘Wants and Needs’ tool enables agents to internally advertise a buyer’s needs within minutes.”
Coldwell Bankers’ Exclusive Look will offer three main tools to its affiliated agents and offices:
- Brokerage exclusive: Once an agent has the seller’s authorization, he or she can make the Coldwell Banker listing available to an extended network of real estate professionals within the local brokerage firm. Clients have access to exclusive listings that the company says can’t be found elsewhere. Sellers can determine any period of time for the exclusivity.
- Sneak peek: Coldwell Banker agents can promote listings to the firm’s 47,000 agents nationwide as soon as the listing agreement is signed. “This tool is designed to make listings available to agents registered in this national network for one business day prior to MLS submission,” Coldwell Banker states in a press release. “All local MLS rules continue to apply.”
- Wants and needs: Agents will be able to promote their clients’ specific needs across the company’s network. Exclusive Look saves custom search criteria and notifies agents when matching properties are posted.
Exclusive Look was first piloted in the Boston area among Coldwell Banker offices before being rolled out in phases across the country. It will be available to all affiliated partners within the Coldwell Banker network later this year.
Updated: May 28, 2020