In essence, the bill would codify the National Association of Realtors' (NAR) Clear Cooperation Policy (CCP) and Multiple Listing Options for Sellers (MLOS) Policy, which require a listing to be input into the MLS within 24 hours of public marketing, a policy sellers may only circumvent by signing a disclosure form. The bill is a bit more stringent as it requires the listing be displayed online within one calendar day of the listing agreement being signed
Reffkin spent his time on the stand explaining Compass's three-phased marketing strategy and how his firm planned to expand the advertisement of this strategy, as well as its private listing network after the National Association of Realtors (NAR) announced clarifications about its Clear Cooperation Policy (CCP) in late-March. However, Reffkin claimed that this expansion of the three-phased marketing strategy and private listings was scrapped after Zillow announced its policy in early-April. According to Reffkin, Zillow's announcement chilled the adoption of Compass's strategy and stifled his firm's growth and innovation.
Baird & Warner's legacy and reach in the suburban market has always been revered, so now that we have almost doubled our agent base in the city resulting in an increase in experience, idea generation and best practices we've never been in a better position to further expand the company's footprint and influence in the Chicago market, David Bailey, the senior vice president and general sales manager at Baird & Warner, said in a statement.