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Updated listing rules expand flexibility for home sellers while preserving an open and comprehensive marketplace
Northwest Multiple Listing Service (NWMLS), the premier broker-owned multiple listing service in the Pacific Northwest, today announced updated listing options designed to further expand seller flexibility while ensuring an open, comprehensive, and transparent marketplace for residential real estate.
NWMLS’s new “First Look” listing option gives sellers enhanced flexibility during the early stages of a listing without walling off inventory inside closed or private networks. Developed in response to member feedback, First Look provides practical solutions for navigating Washington’s public marketing requirements, balancing sellers’ needs for preparation time with buyers’ access to the marketplace.
First Look listings, available on September 4th, include the following features:
- Universal Broker Access: Every property in the new First Look status must be timely submitted to NWMLS and accessible to all 30,000+ member brokers, satisfying the mandate for concurrent, equal broker access and preventing off-MLS “shadow” markets.
- Expanded Marketing During Listing Preparation: Sellers and listing brokers may publicly market the property in First Look for up to 21 days while preparing the property for Active status launch.
- Optional Showings: Sellers can choose to host showings during First Look, or wait to make the property accessible to buyers for showings until the Active launch.
- Seller Marketing Controls: Sellers can decide if a First Look listing is published on thousands of Internet Data Exchange (IDX) websites or choose to engage in more tailored public marketing during First Look.
- Pre-Launch History: Listing activity accrued during First Look, like days in status and pre-launch price adjustments, remain available in the internal NWMLS database, ensuring member brokers and their clients have access to that information.
“Northwest MLS has always provided seller flexibility within an open, transparent marketplace, and our rules are constantly evolving to meet changing consumer expectations,” said Justin Haag, President and CEO of Northwest MLS. “We are giving sellers the flexibility they desire when preparing a home for market, while steadfastly protecting buyers from private networks. Simply put, First Look modernizes the pre-launch preparation process, while ensuring an open marketplace and fair competition, in full compliance with Washington State’s open-market laws.”
First Look also enables NWMLS to resolve ongoing litigation with Compass, while reaffirming its commitment to an open and comprehensive marketplace, data integrity, and consumer protection across the Pacific Northwest.
About Northwest Multiple Listing Service
Northwest Multiple Listing Service is a broker-owned multiple listing service providing real estate data, technology, and listing services to more than 30,000 real estate professionals across Washington State. Dedicated to market integrity, data accuracy, and consumer protection, NWMLS powers a fair and transparent real estate marketplace.