2025 rewind: NAR's delayed listing rule sparks industry debate

"In late March, after much discussion among agents and brokers, NAR announced its Multiple Listing Options of Sellers (MLOS) policy, which created delayed marketing exempt listings. Under this policy, while brokers must still input a listing into the MLS within 24 hours of public marketing, if they mark the listing as delayed it would be withheld from IDX feeds and not be syndicated to other websites."

"Proponents of CCP and widespread listing transparency, including Zillow and brokerages like eXp and NextHome, argue that private listing networks harm the vast majority of consumers because they shrink the pool of potential buyers on listings and they limit homebuyer choice. Additionally, they argue that keeping listings private could result in fair housing issues and potential breaches of fiduciary duty."

"Due to its feelings about CCP, Zillow launched its listing access standards policy, which bans listings from its site that are publicly marketed for more than one business day prior to being available for display on Zillow, in early April and it began enforcing it in late June. Redfin, which had already been acquired by Rocket, announced a similar policy just days after Zillow's announcement,"

Debate over the National Association of Realtors' Clear Cooperation Policy escalated in spring 2025. NAR introduced the Multiple Listing Options of Sellers (MLOS) policy, creating delayed-marketing exempt listings while requiring brokers to input a listing into the MLS within 24 hours of public marketing. Marked delayed listings are withheld from IDX feeds and not syndicated to other websites, with delay durations left to local MLS rules. Supporters of listing transparency, including Zillow, eXp and NextHome, contend private listing networks shrink buyer pools, limit choice, and risk fair housing and fiduciary duty breaches. Zillow launched and began enforcing listing access standards in late June.

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