Where Real Estate Gets Its Dirt

Bright MLS throws support to NAR’s 8.0 policy

‘Pocket listings,’ those secretive, off-market offerings of homes for sale, to disappear in the D.C. area

Bright MLS, the region’s multiple listing service, on Wednesday announced a policy that requires all real estate agents and brokers in its system to submit the listing within one business day of marketing the property to the public. The policy is in effect now, but fines won’t be imposed on agents who break the rule until Dec. 1. The fines for noncompliance are $5,000 for the first infraction, $7,500 for the second and $10,000 for the third instance.

Washington Post

Bright MLS did make a slight edit to NAR’s 8.0 policy, allowing for one business day, not 24 hours, which I think is smart. The WaPo article is interesting to read. I always get a kick out of how main stream news covers issues in organized real estate.

And love Jon Coile’s quote, which I first heard Dave Liniger, co-founder of RE/MAX first say back in the day; “That’s like coming to a potluck dinner with just a fork.

Overall is great to see the larger MLS provider coming out and supporting NAR’s 8.0 policy. But I don’t find many addressing what I think is a core problem, Fair Housing. Maybe its too controversial for MLS providers to talk about.

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