BrokerageIndustry News

NAR addresses ‘re-listing’ practice

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ORLANDO -- A white paper introduced during a National Association of Realtors conference seeks to clear up the murky issues associated with properties that are "re-listed" by Realtors. The practice of re-listing for-sale homes -- or temporarily pulling them off of the market and then reintroducing them as "new" listings -- has been a controversial topic in the industry, and the white paper offers guidance for Realtors' conduct while not mandating any new policies. The paper notes that a "new listing" can have very different meanings for real estate professionals and consumers. Agents may refer to a home that they are working to sell as a "new listing" even if that home had previously been marketed by another agent but did not sell, for example, while consumers may view a new listing as a property that was offered for sale for the first time. "In (a) broker's mind, 'listing' means house and contract. But to buyers, 'new listing' li...