NAR keeping Clear Cooperation — with a key addition 

The National Association of Realtors has decided to keep its controversial Clear Cooperation Policy in place, but is adding some flexibility for sellers who want to delay listing homes via multiple listing services.

After months of discussion and debate, the trade organization announced on March 25 that it is introducing Multiple Listing Options for Sellers, a new policy that creates a "delayed marketing exempt listings" choice. This category will enable a seller to temporarily hold off on marketing their home through the Internet Data Exchange (IDX). The IDX feed allows real estate agents, brokers and home search sites — such as Zillow, Realtor.com or Homes.com — to display MLS property listings.

How long will these marketing delays last? Every MLS will get to decide what timing works best for the areas they serve, according to NAR.

In the meantime, sellers and their listing agents can market homes based on sellers' needs. However, listings within this new category will still be visible to other MLS participants via the MLS platform.

Seller's written consent required: In order to use this new "delayed marketing exempt listings" category, an agent must first obtain a signed agreement from the seller. By signing this disclosure form, the seller will confirm their understanding that any benefit they could gain from immediately marketing their home publicly will not be available once they elect to delay. 

Studies by Zillow and Bright MLS have found that off-MLS listings can cost sellers thousands of dollars per home, with sellers in communities of color disproportionately harmed by the practice.

What NAR had to say: The new policy comes in the wake of what NAR President Kevin Sears said was a "comprehensive review" by the organization of CCP, which requires that a listing be submitted to an MLS within one business day of that home being publicly marketed.

"These policy changes allow for greater choice for sellers in marketing their properties while considering buyers' need to access information through MLSs," Sears said in a news release. "NAR is grateful for our members' engagement throughout this process, and we are pleased to have reached an outcome that balances the needs and perspectives of our diverse membership."

New policy timeline: The Multiple Listing Options for Sellers policy is effective today and must be implemented by Sept. 30. That six-month gap will provide MLSs with time to decide how long their local marketing delays will be and to make any necessary technical adjustments to accommodate the new policy, NAR said. Meanwhile, CCP remains in place for sellers who do not opt for the delayed marketing option.

Additional information about the new policy is available on NAR's "Get the facts" page and a Realtor magazine story on the topic.

Dave Gallagher and Meghan Roos contributed to this report. This is a developing story that will be continue to be updated.