BIC TIP #1176: Office Exclusive Listings
Last week it was BIC on a Boat. This week Stephen Long is a BIC in a Basement. The location changed, but the tips keep coming. Today he tackles the office exclusive listing, which he describes as the only way you can legally keep a listing out of the MLS. Do it right and you serve a seller who values privacy. Do it wrong and you trip the Clear Cooperation Policy.
The Office Exclusive Addendum Is Required
An office exclusive listing is not just a handshake agreement to “keep it quiet.” Stephen is clear that the office exclusive addendum is required. That paperwork documents the seller’s decision and sets the terms for how the property can be marketed.
Sellers choose this route for all kinds of reasons, from privacy to testing the market quietly. Whatever the reason, the addendum needs to be in the file.
Who Can Market It
Once a listing is an office exclusive, it can only be marketed to the agents in your firm. Those agents, in turn, can market it to their clients. It stays inside the brokerage.
That is the trade-off the seller is making: less exposure in exchange for more privacy. Make sure your seller understands that trade-off before they sign, and talk with your broker-in-charge about any firm policies on office exclusives.
The One-to-One Exception
Stephen points to one exception that NAR introduced: one-to-one communication. This allows you to market the listing to a single agent outside your brokerage, on a one-to-one basis.
Emphasis on one-to-one. That means no mass emails, no social media posts, and no public marketing of any kind. A private conversation with one outside agent is fine. Blasting it to your whole contact list is not.
What Triggers Clear Cooperation
If you cross the line into public marketing, the office exclusive protection goes away. Stephen warns that doing so will trigger the Clear Cooperation Policy, and you will have to put the listing in the MLS or figure out an alternate arrangement.
The Practical Takeaway
If your seller wants to stay off the MLS, use the office exclusive addendum, market only within your firm, and use the one-to-one exception carefully. Keep it off social media and out of mass emails. Respect the boundaries and the office exclusive works exactly as intended.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
