The MLS system encourages competition in the marketplace while also ensuring cooperation and compensation among real estate professionals. Full participation in the MLS ensures the seller has the largest possible marketplace, and the buyer has the widest possible selection. This policy will help provide transparency and access to information in the real estate marketplace.
Here is the new policy
Within one business day of marketing a property to the public, the Participant must submit the listing to Bright MLS for cooperation with other Bright MLS Participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
The policy has been added to the Bright Rules and Regulations. The policy is active as of October 16; however, fines will not be levied for non-compliance until December 1, 2019.
For complete information on this policy including coming soon status and office exclusives, refer to this document.
In addition, view this video from NAR's legal counsel on this subject.