Yes. Policy Statement 8.0 applies to any listing that is or will be available for cooperation. Pursuant to Policy Statement 8.0, "coming soon" listings displayed or advertised to the public by a listing broker must be submitted to the MLS for cooperation with other participants. MLSs may enact "coming soon" rules providing for delays and restrictions on showings during a "coming soon" status period, ensuring flexibility in participants' listing and marketing abilities, while still meeting the participant's obligations for cooperation.
No. MLSs have different local rules as to listing turn-in times. If a listing is taken and is not yet ready to be marketed/shown, longer timelines for turn in may apply in local markets. If a listing is marketed to the public, however, Policy Statement 8.0’s 1 business day turn-in timeline goes into effect.
- Do I have to enter it into every MLS I am apart of?
Yes, but only if that property falls into the territorial jurisdiction of that Multiple Listing Service. Inputting a listing in one Multiple Listing Service does not free you from obligations in other Muliple Listing Services.
- Does the policy interfere with the fiduciary duty owed to a seller if the seller does not want the property in the MLS but does want to publicly market the property?
The policy does not interfere with the fiduciary duty owed to the seller. Prior to entering into a listing contract, listing brokers must explain their obligations under license laws, discrimination policies, local MLS rules, and more, including the new requirement for the Clear Cooperation Policy. This does not stop the seller from exempting their listing from the service when related to privacy concerns, nor does it require publication and syndication of their property on the Internet, but it does trigger a duty to inform and cooperate with other MLS participants and subscribers when a property is publicly marketed. By publicly marketing the property, the seller and listing broker have confirmed that market exposure is in the client’s best interest. MLS participants and subscribers should promote the consumer benefits of the service and how it can lead to the best price and most favorable terms.