ShareNOTE: Consumer guides do not constitute any change in NAR policy. Real estate professionals must ensure they market properties consistent with relevant MLS rules and educate sellers on the choices available.
Home sellers looking to market their homes may have different preferences for how they do so. An agent who is a REALTOR® can help you craft a marketing strategy that best suits your needs. Here are the basics:
What role do MLSs play in marketing a home?
Multiple Listing Services (MLSs) are online platforms that compile home listings from brokerages in a given market. MLSs can help sellers reach the largest pool of prospective buyers, as they allow other agents to see, share, and promote homes for sale. MLSs also share listings with public, consumer-facing websites that collect and display available homes for sale. Many MLSs require that your agent add your home listing within one business day after your property is publicly marketed (for example, putting a "For Sale" sign in the yard or posting about your home on social media), which ensures equal opportunity and access and promotes fair housing.
What if I want certain control over where and how my listing is shown?
There are options for sellers who would like to limit the exposure of their home listing for privacy or other reasons. NAR calls these "exempt listings," and there are two types:
- Office Exclusive Exempt Listing: This type of listing means that your property will not be shared on an MLS or publicly marketed. It will only be available to other agents at your listing agent's brokerage. While your agent may still need to submit your listing to the MLS to comply with local MLS requirements, it will not be visible to other agents with MLS access.
- Delayed Marketing Exempt Listing: This type of listing means that your property will be shared on an MLS, but it will not be available for others to advertise through IDX and Syndication for a set period of time (aka the "delayed marketing" period, which varies locally). IDX and Syndication are advertising mechanisms which allow others to advertise listings on their public, consumer-facing websites. You may have browsed some of these sites yourself! While your property is in the delayed marketing period, you and your agent can advertise your home as much or as little as you'd like, in any manner you'd like (e.g., listing broker's website, yard signs, ads in the paper, etc.). Your agent will work with you to determine the right approach for you and your home.
How will my agent find buyers through an office exclusive listing?
Sellers who choose to pursue the office exclusive route can find buyers directly through the listing firm. This means that buyer's agents at the firm with clients who may be interested in purchasing the home can connect with the listing agent to discuss an offer.
How will my agent find buyers through a delayed marketing listing?
During the delayed marketing period, home sellers and their listing agents can still market the listing to buyers in a way that fits the sellers' needs and goals. Buyer's agents with access to the MLS will see your delayed marketing listing and can reach out to your listing agent if the buyer's agents believe their clients may be interested in purchasing your home.
What is the first step if I want to pursue an exempt listing option?
If you determine you'd like to pursue an office exclusive or delayed marketing exempt listing, your agent will ask you to sign a disclosure in which you will acknowledge that you are waiving the benefits of the MLS and/or public marketing—either entirely or for a set period of time (through IDX and syndication).
Practices may vary based on state and local law. Consult your real estate professional and/or an attorney for details about state law where you are purchasing a home. Please visit facts.realtor for more information and resources.
