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MIBOR BLC® CLEAR COOPERATION POLICY

MIBOR BLC® CLEAR COOPERATION POLICY

Published Thursday, June 25, 2020

MIBOR BLC® CLEAR COOPERATION POLICY
ENFORCEMENT BEGINS JULY 1


In April the MIBOR BLC® implemented the Clear Cooperation Policy in our market area. The intent of the Clear Cooperation Policy is to solidify the primary purpose of a listing service, which is to foster cooperation among brokers. This policy only impacts those listings where the seller has required that the listing broker withhold the property from the BLC.  

Prior to the implementation of the new policy and for the last several months, MIBOR has been educating members on the policy through videos, webinars, office and division meetings, trainings, etc. Additionally, we made available all policies, procedures and processes on our website at mibor.com/clearcooperation.  

The next step is to begin enforcement of the Clear Cooperation Policy on July 1. Please visit mibor.com/clearcoopeation to familiarize yourself with this important policy if you have not already done so.  Enforcement of Clear Cooperation includes fines for showing a Temporary Off Market listing and for not submitting an Office Exclusive Listing to the BLC within one (1) business day of marketing the property to the public.  Full details can be found in the MIBOR BLC Policy Manual at mibor.com/blcgovernance.