BrokerageIndustry News

MLS cuts exclusive real estate listings from the Web

Broker says new policy change restricts consumer choice

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A policy change by a local Realtor association-owned multiple listing service, which prevents the posting of exclusive agency listings on major home-search site Realtor.com and some other Web sites, has riled one broker whose business has relied on this type of listing. In an exclusive agency listing, a property owner gives the broker the exclusive right to list the property for sale but the owner also can choose to sell the home alone. The MLS policy change, which was approved by the Monmouth-Ocean MLS committee and board of directors in New Jersey, provides that "exclusive agency listings no longer be available on the public sites or the IDX sites," which includes Realtor.com, MoMLS.com and MonmouthOceanMLS.com. Exclusive agency listings are still available for agents to view, and real estate brokerages are free to display their exclusive agency listings on their own Web sites. The MLS has about 9,400 members. Derek Eisenberg, president and founder of Continental Real Estate in Hack...