While most listings follow the traditional process of Active/Pending/Closed in the MLS, not every seller wants to make their property available to the general public. There are many reasons a seller might want privacy – they could be a public figure, have concerns about security, or just want to limit the amount of people entering their home. One solution for these sellers is the Private Exclusive listing path. Private Exclusive listings, which replace the Brokerage Exclusive listing option, restrict the visibility of a property so that it’s only viewable in the MLS by the listing broker and their office or brokerage.
Pro Tip: To learn how you can protect your seller’s privacy in the MLS while using a traditional listing path, visit the REcolorado.com Resource Center.
Private Exclusives can be beneficial to brokers because they provide a way to serve clients who want privacy while also fulfilling the MLS mandatory submission rule, giving more flexible marketing options compared to Brokerage Exclusives, and providing a way to track productivity. They also help everyone who uses the MLS because more data provides a clearer picture of the market.
What You Need to Know
Private Exclusives should only be used on a limited basis when property owner(s) wish to have anonymity/privacy when attempting to sell their property and instruct their broker to withhold their property listing from the MLS. Here are some additional guidelines you should be aware of when using this listing path:
- Private Exclusives are only available for residential listings.
- Only the listing broker and listing broker’s office will be able to see Private Exclusive listings in the MLS.
- Brokers are required to affirm an attestation during listing input that says their client requested a Private Exclusive listing and that the listing agreement specifies that the property will only be marketed on a one-to-one basis within an agent’s sphere and not publicly.
- Only private marketing, one-on-one promotion within a broker’s or seller’s own network, is allowed for Private Exclusives.
- If a broker that was not informed about the property requests a showing, they must be allowed to view it with their client.
- The Listing History will display a Private Exclusive banner including the dates the listing is/was Private Exclusive.
How the Process Works
To use this option, a broker would enter the property into REcolorado Matrix as a Coming Soon or Active Private Exclusive listing and affirm the attestation. Once the listing has been entered in the MLS, it can be seen exclusively in REcolorado Matrix by anyone in that broker’s office.
To market the listing, brokers can reach out to any person within their sphere on a one-to-one basis. Mass public marketing – using tools like flyers, social media, and open houses – is not allowed. Once an offer is accepted, the broker must move the listing to Private Exclusive Pending and Closed. After a Private Exclusive listing closes, it will be viewable by all REcolorado Matrix users.
At any point during the sale, the broker can move the listing to the Traditional Listing Path. This would make the property viewable by all MLS users and — depending on the visibility a broker indicates on the Marketing tab — potentially the general public as well.
Pro Tip: For an in-depth overview of this listing path option, register for our Private Exclusive Listings class.
To learn more, please read the following posts in the REcolorado.com Resource Center:
Questions? Contact our Customer Success team at 303.850.9576, option 1, or support@REcolorado.com.
