In a recent opinion piece on Inman, Brown Harris Stevens CEO Bess Freedman emphasized the importance of the National Association of Realtors' (NAR) decision to uphold the Clear Cooperation Policy (CCP), highlighting its benefits for both buyers and sellers.
The CCP voted in favor of keeping the mandate that listings be made publicly available within one day of public marketing, ensuring transparency in the real estate market. “Just like in equities, there is a fair market structure that ensures the information is accurate and not artificial so that consumers can make their informed decisions and so that companies are held to account,” wrote Freedman.
Of note the NAR did create a new option for sellers so they can now choose to delay their homes hitting the open market, but only if other brokerages can see the inventory, too. This will help prevent certain brokerages from hoarding inventory and allow agents from other areas and brokerages to view the listings, even if they are not being distributed through public portals.
While some sellers may prefer private listings for personal reasons, such instances are exceptions. Generally, broad exposure of a property is crucial for achieving optimal sale prices.
Freedman also points out that withholding information, such as days on market or price reductions, can mislead consumers and disrupt the integrity of the market. She asserts that transparent metrics are vital for accurate price discovery and maintaining consumer trust.
At Brown Harris Stevens, we share Freedman's commitment to transparency and fairness in real estate transactions. We believe that policies like the CCP are essential for protecting consumer interests and ensuring an equitable market for all participants.
