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Sign into your accountPocket Listing Ruling Opens Up Inventory
November 17 2019
Pocket listings are off-market listings which may never reach the public market through the MLS. Sellers choose to keep listings off market mainly for privacy reasons or they hope to retain more value through the perception that the listing is more exclusive than listings in the MLS.
Last week, the board of the National Association of Realtors overwhelmingly approved a new pocket listing policy (sometimes known as "whisper" listings) with a 729-70 vote in favor of instituting the controversial new policy. Under the Clear Cooperation Policy (also known as MLS Statement 8.0), listing brokers who are participating in a multiple listing service are required to submit a listing to the MLS within one day of marketing the listing to the public. According to NAR, MLSs will have until May 1, 2020 to adopt the policy.