On March 19, 2025, the National Association of Realtors (NAR) announced a major update to its rules governing private listings, introducing the Multiple Listing Options for Sellers policy. The new framework gives sellers more control over how and when their properties reach the public while preserving the core requirements of the Clear Cooperation Policy (CCP) that has governed MLS participation since 2020. In 2026, the debate over whether that balance is the right one continues to divide the real estate industry, and the outcome will shape how agents, brokers, and consumers interact with listing data for years to come.
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What is Clear Cooperation Policy?
From court challenges to regulatory concerns to changes in organized real estate, NAR’s Clear Cooperation Policy has become one of the most debated rules in brokerage offices and real estate conferences across the country. Understanding its origins is the first step toward understanding the current divide.
Established by NAR’s board of directors in 2020, the MLS Clear Cooperation Policy requires that any property publicly marketed by a Realtor be listed on a multiple listing service within one business day. NAR said the rule was “designed to shore up the pro-competitive, pro-consumer benefits” of multiple listing systems, “ensure transparency and fairness,” and prevent the growth of pocket listings. Pocket listings are properties marketed off-MLS to select clients rather than the broader market.
Supporters argue CCP creates a fair and open marketplace. Critics claim it restricts agent autonomy and could hinder competition. Regardless of the March 2025 changes, that fundamental disagreement continues to play out in the courts and in national regulatory offices in 2026.
March 2025 policy changes and what they mean for you
According to NAR, the Multiple Listing Options for Sellers policy was designed to complement CCP by introducing “delayed marketing exempt listings.” This new designation allows sellers to postpone the public marketing of their properties through Internet Data Exchange (IDX) and syndication for a specified period, determined by individual MLSs.
NAR President Kevin Sears said the policy changes, announced on March 19, 2025 and requiring MLS implementation by the end of September 2025, “allow for greater choice for sellers in marketing their properties while considering buyers’ need to access information through MLSs.” By 2026, participating MLSs have completed their implementation, though adoption of the delayed marketing option varies by market.
Key aspects of the new policy
- Seller choice: Sellers can instruct their agents to delay public marketing, as long as they sign disclosure forms that document their informed consent.
- Internal visibility: While the listing will not be immediately visible on major listing platforms via IDX, it must still be filed in the MLS and accessible to other MLS participants and subscribers.
- CCP remains in effect: The new policy does not change an MLS’s existing rules, which require that a listing be added to the MLS within one business day of being publicly marketed.
- One-to-one communication: Broker-to-broker communications about a listing do not trigger CCP requirements. However, if a listing is shared with multiple brokerages, it is considered public marketing under CCP rules.
Summary of listing options for sellers
With the Multiple Listing Options for Sellers, listing agents can offer their clients more control over how their listings are marketed while ensuring compliance with MLS rules. The two main options are:
| Listing option | MLS filing required? | Visible to other MLS participants? | Visible on IDX/syndication? | Public marketing allowed? |
| Office exclusive listing | Yes | No, shared only within the agent’s brokerage | No | No |
| Delayed marketing listing | Yes | Yes, accessible to MLS participants and subscribers | No, delayed for a period set by the local MLS | Private marketing only, per seller directive and MLS rules |
Exempt listing disclosure requirements
Regardless of which option sellers choose, brokers must obtain a signed certification from the seller confirming:
- Their understanding of the agent’s professional relationship with them
- Their acknowledgment that they are waiving or delaying MLS benefits, including broad exposure
- Their decision to opt out of public marketing through MLS dissemination (if an office exclusive) or delay public marketing through IDX and syndication (if delayed marketing)
This policy aims to balance seller flexibility with fair housing practices, ensuring that buyers and their agents have equitable access to MLS property information. NAR encourages MLSs to engage with stakeholders to determine the best approach for their local markets.
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How we got here: Legal challenges and growing scrutiny
ThePLS.com lawsuit and the court challenge to CCP
One of the most notable legal challenges to CCP came from ThePLS.com, a private listing network that claims the policy stifles competition and forces agents into the MLS system, limiting their ability to use alternative platforms. In December 2023, an appellate court allowed its case to proceed, signaling that the legal landscape surrounding the policy could shift. While ThePLS.com settled with some defendants, it has yet to resolve its claims against NAR. In 2026, the case remains a bellwether for how courts view MLS mandates and agent choice.
The DOJ’s antitrust investigation
The Department of Justice has also raised antitrust concerns over CCP, opening investigations into its industry implications. The theory is that the policy compels agents to join MLSs, which critics argue effectively compels NAR membership. It also limits competition and creates barriers for newer or smaller platforms.
While the DOJ amended its stance in March 2025, the investigation remains open in 2026. Agents should monitor DOJ Antitrust Division filings for updates as the regulatory picture continues to develop.
These legal and regulatory pressures have put NAR in a difficult position. The issue has also grown more relevant alongside the upheaval caused by the changes to NAR’s cooperative compensation commission structure finalized in August 2024.
Clear Cooperation Policy’s stated and implied purposes
NAR argues that, by mandating properties be added to the MLS, CCP creates a more competitive environment. Buyers and agents can access all available listings equally, and the sales process remains transparent.
Supporters also point to fair housing law. A property marketed only to a select group may restrict access by protected class, including race, color, religion, sex, national origin, familial status, and disability. Mandating MLS exposure, supporters argue, is one way to prevent that kind of exclusion.
Other industry voices call this a red herring. Agents and brokers who oppose CCP argue the policy was designed to consolidate NAR’s hold on the industry and reinforce the importance of MLSs.
“NAR wants more and more people to pay them dues,” Virtual Realty Group Principal Broker Michael Lissack told Housing Wire in 2021. “So, they encourage the proliferation of unqualified neophytes to take on the title of Realtor. If the issue was only fair housing compliance, then that makes sense. But these things don’t exist in a vacuum.”
Leaders opposing the Clear Cooperation Policy in 2026
Compass CEO Robert Reffkin remains among the most vocal critics of the policy. He refers to CCP as “forced cooperation,” claiming that it eliminates choice for both consumers and agents by mandating MLS participation.
Reffkin argues that brokers and agents should have the option to decide how and where to market their properties without being forced to list them on the MLS. His critique aligns with Compass’s business model, which uses private listings as a competitive edge.
Luxury Presence tackled this issue in a Presence Panel event. Ben Belack of a Beverly Hills brokerage was highly critical of CCP, arguing that it is irrelevant in many markets. “Most markets don’t even have pockets,” he said. But, “if someone wants to list their property privately in markets where there are pockets because they want to have discretion or there’s potentially press ramifications, they should be able to.”
Similarly, Holly Meyer Lucas, founder of Meyer Lucas Real Estate, expressed her frustration with CCP, calling it “asinine” and arguing that it unnecessarily interferes with privacy, particularly in sensitive transactions like celebrity sales or divorces. She argued that every market has valid reasons to keep listings off the MLS, such as deaths or hoarder situations, and that certain homes should not be forced into public exposure online.
That tension between exposure and privacy is exactly what the March 2025 policy update attempted to address. Whether the delayed marketing option provides enough flexibility for agents working with high-profile or sensitive sellers remains an open question in 2026.
Industry leaders defending CCP
The view expressed during the Presence Panel contrasts sharply with that of a major listing platform, which supports the policy. Its senior director of industry affairs emphasized that listing transparency is critical for ensuring a fair market. Hendricks said off-market listings reduce visibility and can result in lower sale prices, which harms sellers. He also pointed out that removing the policy could create an uneven playing field, benefiting exclusive networks at the expense of a more open and competitive market.
Some brokerage leaders, including eXp Realty CEO Leo Pareja, continue to support CCP, arguing that the MLS is a critical tool for ensuring a transparent and fair real estate market. Pareja has described the MLS as the most “liquid, accurate, and complete data set” for homebuyers, adding that weakening its role could negatively affect consumers and lead to fair housing violations.
That tradeoff is the crux of the CCP debate. Sellers who choose privacy accept reduced exposure. The question for agents in 2026 is how to advise clients on that tradeoff with clarity and confidence.
The future of the industry in 2026, with or without Clear Cooperation
As industry leaders continue to debate CCP, its future remains uncertain. But uncertainty is not the same as paralysis. Agents and brokers who understand the policy landscape can position themselves to serve clients well regardless of which direction the rules move.
What the DOJ investigation means in 2026
The DOJ’s antitrust investigation into CCP remains open. While the department amended its public stance in March 2025, it has not closed the inquiry. Agents should understand that any DOJ action could reshape MLS participation rules at a federal level. Monitoring filings from the DOJ Antitrust Division at justice.gov/atr is a practical step for brokers who want to stay ahead of regulatory shifts.
MLS implementation: where things stand
Individual MLSs had until the end of September 2025 to implement the Multiple Listing Options for Sellers policy. As of 2026, implementation is complete across participating MLSs. However, adoption of the delayed marketing option varies significantly by market. Some MLSs have set short delay windows, while others have allowed longer periods. Agents should check with their local MLS for current rules and timelines specific to their market.
What this means for your listing marketing plan
In practice, agents now advise clients across three scenarios:
- Full MLS exposure from day one: The seller wants maximum visibility. The listing goes live on the MLS and syndicates to IDX and portals immediately. This remains the default for most transactions.
- Delayed marketing window: The seller wants the listing filed with the MLS but withheld from IDX and syndication for a set period. This is the new option introduced in March 2025. It suits sellers who want to test pricing, prepare the property, or manage privacy concerns before going public.
- Office exclusive: The seller instructs the broker not to share the listing beyond the brokerage. The listing is filed with the MLS but not visible to other participants. This option existed before the March 2025 changes and remains available for sellers who prioritize discretion above all else.
Meyer Lucas characterized the divide between supporters and detractors as one governed by access to the right tools. “If you don’t have access to the pockets and the off-market stuff, get better technology, get better access,” she told Presence Panel attendees. “My career is where it is because of my agent-agent relationships. And I worked hard for those, not just randomly putting stuff in the MLS.”
As legal challenges and regulatory reviews unfold, listing access will continue to influence how real estate agents do business. The agents who thrive will be those who can clearly explain the tradeoffs of each listing option, back their advice with market knowledge, and maintain the technology and relationships needed to serve clients in any regulatory environment.
What Clear Cooperation means for agents in 2026
Clear Cooperation Policy continues to sit at the center of a larger debate about transparency, seller choice, and the future of MLS participation. With the March 2025 policy update now in effect, agents need to understand when a listing must be shared publicly, when delayed marketing is available, and how local MLS rules may differ. The best path forward is to stay informed, explain the tradeoffs clearly to clients, and choose the listing strategy that fits both the seller’s goals and the current compliance framework.
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About the author
Kate Evans is a content marketing strategist at Luxury Presence, the leading growth platform for high-performing real estate professionals. She develops data-driven editorial content and supports SEO strategy and brand voice frameworks that help agents attract qualified leads and establish market authority. Her published work covers topics including CRM strategy, social media marketing, and digital growth, supporting thousands of agents in scaling their businesses through modern marketing.
