The Clear Cooperation Policy Is Dead. What Comes Next?

The Clear Cooperation Policy is not technically dead. It is still a rule for the National Association of Realtors.

The reality? A majority of brokerages and agents across the country are now ignoring it, and MLSs are not enforcing it because it has gotten out of hand. When a rule exists that nobody follows or enforces, it is a rule in name only. For all practical purposes, it’s done.

Now, with the recent announcement that both Zillow and Realtor.com will begin advertising coming-soon listings alongside private listings on their platforms, we have crossed a threshold that cannot be uncrossed. The two largest consumer real estate portals in the country have validated the very behavior the CCP was designed to prevent. The message is unmistakable: The fragmented market is here to stay, for now.

The fragmentation is complete

I have been saying for years that the CCP is the very policy that would fuel more fragmentation, not prevent it. Here we are. Like a dam that tries to hold back a rising river, the policy didn’t stop the water; it just forced it to find other channels. Now those channels are the main flow.

The MLS is no longer the first place agents list their properties. It’s becoming the last.

Think about the three-phase listing process that is now taking shape. A property starts as a private listing, only to a select group. Then it becomes a “coming-soon listing,” to “generate buzz” and early interest, when in truth listing agents are really showing it to their buyers.

Then, if it has not sold, it finally lands on the MLS. What does that say about MLS listings? It says that what shows up on the MLS is the listing that did not sell in the other two phases. That is our current reality.

Now what? Strategies for the new reality

On one hand, I see this fragmentation as a blessing, because the CCP itself was driving the very behavior it sought to prevent, and now it is becoming irrelevant. Blessing or not, the question agents and brokers must answer is: What do we do now?

1. Don’t lie to homeowners

Blunt, I know. And not politically correct. I’m from New York, though, so sugarcoating isn’t an option. Any agent who sits across from a homeowner and says that a private listing will net them more money is telling them something that is simply not true. There is no evidence or data that validates that. That’s a lie. The opposite is true. 

If you want a plethora of studies showing how private listings cost homeowners money, visit PrivateListingsDebate.com.

2. Be honest about the real pros and cons

There are legitimate reasons a homeowner might choose to go private listing, and agents with integrity should clearly lay those out. Privacy is one. Controlled showings and reduced stress, another. Having a single agent handle both sides, one cook in the kitchen instead of two, can simplify transactions. Those are honest, real benefits.

But a higher sale price is not one of them, and agents need to stop pretending it is. You must tell a homeowner that if they choose this route, there is a cost, which is a lower selling price. Some homeowners will make that tradeoff, choosing convenience and less stress. The “DoorDash” of home sales.

3. MLSs must adapt to the new normal

MLS systems across the country need to stop fighting the current and start swimming with it. The best example of this is what MRED has done by allowing private listings within its system. This preserves transparency among agents in a local market and gives buyer’s agents the opportunity to request cooperation from listing agents.

When private listings exist in shadows, nobody benefits except the listing agent. When they exist within the MLS ecosystem, at least there is a framework for fairness.

4. Listing agents, honor the co-broke

If another agent calls with a buyer, allow the showing — or at minimum, let your seller decide. Blocking it without their knowledge (and without their written sign-off) is a serious legal risk. If they later find out you turned away an eager buyer, you could face court for failing to act in their best interest.

5. Buyer’s agents, build your listing agent relationships now

In a fragmented market, the buyer’s agents who will thrive are those with strong relationships with listing agents in their areas. If listings are not going to show up on the MLS first, you need to hear about them through your professional network. Call listing agents. Attend broker opens. Be known as someone who brings qualified, serious buyers to the table.

6. Buyer’s agents, make the case that buyers need you now more than ever

As portals fragment, they lose value as a single source of truth — and that’s your strongest argument for representation in years. Buyers now need a professional to navigate the scattered landscape. That’s you.

7. Double down on your value proposition around exposure

For listing agents, this is an opportunity. If you can demonstrate the measurable difference between limited exposure and full market exposure, complete with data, comparable sales and a clear marketing strategy, you become the agent of choice. What we teach agents is to lead with value and lead with truth. The agents who can articulate the financial cost of going private will win the listing and serve their clients better.

The road ahead

The real estate industry is in one of its most significant transitions in decades. The CCP may still be on the books, but the market has voted with its feet.

The question is no longer whether private and coming-soon listings will dominate. The question is whether we will navigate this new terrain with integrity or let short-term gains erode the trust that consumers place in us.

I know which side I am on. I hope you will join me there.