The new N.A.R Clear Cooperation Policy takes effect on May 1st. Next Monday, the CRMLS will begin a Coming-Soon category in the MLS for agents only. The listings can only be in the coming-soon category for 21 days, and no showings are allowed. But the feature won't be...
Wells Fargo is 'suspending' their jumbo-loan funding of all correspondents today, and the others (like Chase) are sure to follow. It's one thing to stop funding loans for mortgage brokers, but to shut down the credit lines to the big players like Loan Depot, Quicken,...
The seven-day moving average was +32% on March 8th, and now the average is -68.7%! This is during the peak showing season too! But at least the current trend looks like it is flattening out? Hopefully the change of realtors being declared essential workers will mean...
When we joined Compass in the summer of 2018, it was clear that the evolution of residential resales was trending towards off-market sales. I said then, "we have to make sure that we're on the right team". The National Association of Realtors tried to affect the...
How to justify pocket listings, in one paragraph: A broker from The Agency is hoping to mobilize support against the National Association of Realtors’ controversial ban against pocket listings, drafting a new petition to urge the repeal of a policy that many agents...
Let's touch on this topic one more time as a new season opens up. While our 2020 market should be promising, the actual results won't be as obvious. Reasons to be optimistic about this year: Rates are really low, though we expect that now and it won't set off a...
The new C.A.R. forms for 2020 are available, and the most interesting is the MLS-exclusion form in light of the NAR Clear Cooperation policy that begins on May 1st. Last year I asked the C.A.R. lead attorney about their stand on Coming-Soon and off-market listings,...
Compass intends to comply with NAR's Clear Cooperation Policy MLS 8.0. In addition, the corporate staff will work the MLS to see if we can create a Coming Soon section, like many other areas are doing. The 8.0 policy legitimizes the Coming Soon marketing, and allows...
The MLS Statement 8.0 Clear Cooperation Policy is 'a lightweight, middle-of-the-road policy that will just make the problem worse' because it doesn't go far enough. It's so full of holes that it will only exacerbate the problem, and by the time they figure it out, it...
Yesterday, we entered into the final phase of the MLS implosion, with the latest blow being delivered by the National Association of Realtors themselves. Instead of strictly forbidding Off-MLS sales, they have tried to appease everyone by concocting a lightweight,...
