The National Association of Realtors (NAR) passed a measure that bans pocket listings and requires members to post a new listing on the Multiple Listing Service within one day. Pocket listings – or off-market listings - are popular in high priced markets and often result in a listing agent keeping commissions on both sides of the transaction.
The ban is widely popular among the leadership of the NAR and according to Bright MLS Chair, Jon Coite, pocket listings break the “social contract” Realtors have among themselves.