This article and video will clarify.

 

All listings taken by Canopy MLS Member Participants and Subscribers are subject to the Canopy MLS Rules and Regulations, and listings are mandatory for submission when:

• The listing is subject to either an Exclusive Right to Sell or an Exclusive Agency listing agreement.
• The listing is located within the Canopy MLS Service Area.
• The property type is either Residential, Multi-Unit (four units or less), or Land (Lots/Acres/Farms).  Canopy MLS also accepts listings of other property types such as commercial listings for sale or lease and residential rental listings, but those are not mandatory for submission. 
• New construction becomes mandatory for submission when the certificate of occupancy is issued (if it is not already under contract).

 

What is the Canopy MLS Service Area? 

• The Canopy MLS Bylaws define the Canopy MLS Service Area as, “Any area or portion of an area in which a Member Participant or Subscriber may be able to effectively deliver service to a potential client or customer.” 
• In other words, if you are a member of Canopy MLS, any property you have listed in North Carolina (N.C.) or South Carolina (S.C.) should be submitted to Canopy MLS.

 

Listing submission grace period is 1 (one) business day

• The Listing Brokerage must input each listing required to be submitted to the MLS after obtaining the Seller’s signature on the listing agreement and within one (1) business day of the “Effective Date” (or, if applicable, the “Marketing Date” as it is known in N.C.) or the beginning date of the term of the listing (for S.C.). 
• MLS rules prohibit the property from being previewed or shown by the Seller or any real estate agent, including the Firm’s agents, prior to the Marketing Date or the beginning of the term of the listing.

 

Clear Cooperation Policy

The Clear Cooperation Policy was adopted by the National Association of Realtors® Board of Directors in November 2019 with a May 1, 2020, deadline for all MLSs to implement the policy.  The Clear Cooperation Policy also determines when a listing is required to be submitted to the MLS. 

 

The Clear Cooperation Policy states:  Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to: flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.

 

Firm Exclusive Listings

The Clear Cooperation Policy does not prohibit Firm Exclusive listings, which are also known as exempt listings, office exclusive, brokerage exclusive, and the list goes on.  Canopy MLS uses the term Firm Exclusive.

• If a Seller refuses to permit their listing to be disseminated by Canopy MLS, the Listing Brokerage may then take the listing as Firm Exclusive.
• Such sellers must sign the Canopy MLS Firm Exclusive Agreement indicating that the seller, the listing brokerage or any other entity cannot publicly market the listing in any way.
• Firm Exclusive listings must be registered with Canopy MLS within two (2) business days from the “Effective Date” of the listing agreement.
• Firm Exclusive listings are not disseminated to other MLS Participants.

 

In a firm exclusive listing, promotion of the listing between brokers and licensees affiliated with the listing brokerage, and one-to-one promotion among these licensees and their clients, is not considered public advertising. Under a Firm Exclusive Agreement, the listing brokerage can:

1. Share the listing with all agents/brokers in their firm.
2. Allow agents/brokers in the listing brokerage’s firm to share the listing directly with their clients through one-to-one relationship communications.

 

However, the listing must be submitted to the MLS for cooperation with all MLS Participants within one (1) business day if:

• the listing is publicly marketed by the agent, seller or others.
• the listing brokerage or seller entertain any communication about the listing from an agent who is not affiliated with the listing brokerage, or prospective buyer who is not a client of the listing brokerage.
• Examples include but are not limited to: allowing a showing, countering an offer, or accepting an offer to purchase.

 

What is marketing?

How does Canopy MLS define “marketing?” Can I advertise that I have a listing coming up in a certain neighborhood as long as I don’t give a specific address?

• The Clear Cooperation Policy references “marketing a property,” but there is no “bright-line” definition.
• There is no requirement that an address has to be shared in order for a social media post (or in some other format) to be classified as marketing.
• Excluding the address from marketing does not exempt the listing agent from complying with the Clear Cooperation Policy.
• Posting, “I’ve got a listing coming up in Harper Valley,” is marketing, and the listing would be required to be submitted to the MLS within one business day.
• Likewise, posting just the photos with no identifiable address, is marketing, and the listing would be required to be submitted to the MLS within one business day.

 

N.C. and S.C. Exclusive Right To Sell Listing Agreements

After the Clear Cooperation Policy was implemented, the listing agreements in both North Carolina and South Carolina were updated.

• Both agreements establish in all cases when marketing will begin, which may be the Effective Date (the date the agreement is signed by both parties) or a later date – the Marketing Date (N.C.) or beginning of the term of the listing (S.C.)

• A seller and the listing brokerage are then required to select either “Public Marketing” or “Office Exclusive.” Only one option may be selected.
• If Public Marketing is selected, there can be no marketing (even internally to agents in your own brokerage) until the Marketing Date (N.C.) or beginning of the term of the listing (S.C.) is reached.
• If Office/Brokerage Exclusive is selected, and public marketing will take place at a later date, it will be necessary to amend the listing agreement.

 

Why is it so important to complete the marketing paragraph of the listing agreement the way it is designed to be used?

• Selecting only one option, either Public Marketing or Office/Brokerage Exclusive, makes it clear to the seller whether the listing will be fully marketed, or receive limited exposure.  It is in the best interest of most sellers to get the highest possible price on the best possible terms for their property, and maximizing exposure of their property advances that interest.  Accepting an offer on the property before it is fully exposed to the widest group of potential buyers may deny seller the best opportunity to attract offers at the highest price and best terms. 
• Marketing a property only internally to other agents in your firm, even for just a short period of time before the listing is ready to be publicly marketed, limits the exposure of the listing. The Seller’s full knowledge and consent is acknowledged by checking the Office/Brokerage Exclusive box. 
• In addition, the Canopy MLS Firm Exclusive Agreement must also be signed by the Seller, and the Canopy MLS Firm Exclusive Agreement must be registered with Canopy MLS. 
• Remember, a listing that is mandatory for submission can only be left out of the MLS when there is a registered Canopy MLS Firm Exclusive Agreement and the buyer is also a client of your firm.

 

Registering Firm Exclusives with Canopy MLS

• The seller must complete the Canopy MLS Firm Exclusive Agreement.
• Register the Canopy MLS Firm Exclusive Agreement with Canopy MLS within two (2) business days from the “Effective Date” of the listing agreement.
• Use the online Firm Exclusive Registration [requires login]. Located in Matrix under “Resources.” After clicking on that, go to “Canopy MLS Forms” and then select “Firm Exclusive Registration” from the forms list.
• Only Canopy MLS staff, the listing agent and, if applicable, his or her admin employee registering the listing can see the Firm Exclusive that was registered.

 

If you have questions about when entering a listing is required, contact Canopy MLS Compliance, [email protected], 704-940-3159, Opt. 4