Compass has announced a new Broker-to-Broker Cooperation Policy in order to “support cooperation.”
The new Broker-to-Broker Cooperation Policy requires all agents of the brokerage to cooperate with other brokers and agents—including listings earmarked as Private Exclusives or Coming Soons—unless otherwise instructed by the client in writing, the brokerage stated.
The policy—which is now added to Compass’s manual, the brokerage noted—requires that Compass agents ensure all agents, part of the brokerage or otherwise, can access listing details on request.
In addition, Compass stated that the policy requires its agents to:
- Timely respond to inquiries from buyers or cooperating brokers
- Share requested information on listed property
- Make the property available for showing to qualified prospective buyers represented by cooperating brokers during any period when showings are being provided to buyers
- Present to the seller all written offers received
The brokerage also noted that its agents should follow Bright MLS’s rule on cooperation for off-MLS marketing, which is as follows:
“Each subscriber (agent) must cooperate with all other subscribers (agents) impartially in the best interest of the subscriber’s (agent’s) client. This includes sharing information about listed properties impartially and arranging showings regardless of any financial arrangement offered by or agreed with another broker and regardless of whether the MLS distributes the property’s information.”
Robert Reffkin, CEO of Compass International Holdings, said in a LinkedIn post about the new policy that people have questioned “If Compass supports cooperating with every broker, why not just put all listings in the MLS?”
“Because the MLS isn’t just a cooperation system anymore. It’s become a system that restricts how homeowners can market their homes,” he continued. “Support of Cooperation? Yes. Support of MLS Restrictions on Marketing? No.”
