A new real estate industry policy will allow home sellers to delay sharing their listings online starting this fall.
Why it matters: Proponents say the policy gives sellers more marketing flexibility and privacy. Critics worry it will make an already tough housing market even more complicated for buyers to navigate.
Driving the news: The National Association of Realtors (NAR) announced the new “delayed marketing” policy last week following about a year of industry debate .
- The association said the change aims to accommodate the unique needs of some sellers.
How it works: Most for-sale homes will remain widely viewable on the databases brokers use — but some listings might not show up right away on websites like Zillow and Redfin.
- Sellers who select the new option must sign a disclosure agreeing “to waive the benefits of immediate public marketing” online, per NAR.
- During this period of exclusivity, listing agents can market the homes to private client lists or prospective buyers represented by their brokerages before the general public knows about the listing.
Zoom in: Each Multiple Listing Service (MLS) — the private databases brokerages use to share information about available properties — will decide by Sept. 30 on rules for complying with the new policy, including how long listings can be withheld from search websites…