Broker Resource Network (“BRN”), the broadest real estate brokerage-focused network in North America, announces the release of their research paper "The Quiet Threat of Zero Days on Market” to measure the impact of the National Association of REALTORS® Clear Cooperation Policy. The study evaluates the number of properties marked sold in the MLS the same day it was listed during two timeframes. The first timeframe is the 12 months before the Clear Cooperation Policy (CCP) was enacted by the National Association of REALTORS® contrasted by the 12 months after.
Remarkably, the number of properties that transacted in the MLS with zero days on market more than doubled across the 24 major MLS markets studied. The report includes the raw data from many of the markets down to the broker office level. Some firms recorded a handful of zero days on market transaction before CCP was enacted and hundreds after.
For the first time, the Broker Resource Network (BRN) is sharing their proprietary research publicly. Normally, the BRN research is only available to the firms who are subscribers to the BRN. “This is a very important issue for our industry,” says Kent Hanley, President of the Broker Resource Network. “If this trend continues, we fear that it may erode the importance of the MLS, have devastating impact on fair housing, and create other business issues that would impair cooperation across our great industry.”
“It’s time for us all to engage in this conversation across networks, interest groups, and news sources for brokers in the industry today,” continued Hanley. “Whether you are a franchisee, an independent, a traditional broker, an alternative model, a single or multi-office, local, regional, or even a national firm, this is a topic you should care about.”
“The best information I ever get is from another broker,” said Craig McClelland, Vice President and COO of Better Homes & Gardens Metro Brokers. “For me, broker led research like this is main reason we joined the Broker Resource Network. The group stands for positive change in operational excellence, NAR policy, and keeping me informed on changes in our industry that impact brokerage.”The Broker Resource Network is the broker equivalent to the Council of MLS (“CMLS”) and the Association Executives Institute (“AEI”) who provide value to their respective segments of the industry. Michael Scarafile, President of Carolina One Real Estate, shares, “While Carolina One has always focused on our local market presence and expertise, we have also looked to leverage multiple networks and associations to connect us and our agents to other regional, national, and international companies and experts.”
To download your free copy of this ground-breaking research on the impact of the Clear Cooperation Policy and see the data on the increases in Zero days on market – please visit the BrokerResourceNetwork.org page today.
About the Broker Resource Network
The Broker Resource Network subscription includes exclusive access to private discussions with other brokerage leaders through “Peer Advisory Groups,” which offer the broadest base of information and sharing among brokerage leaders. Participants also receive each week at least one resource focused solely on company leaders, such as articles, research, analysis, benchmarking, webinars, and newsletters. Subscriptions to the BRN are open to all brokerage owners and executives in the United States and Canada through an annual fee which includes direct access for up to six leaders from a bona fide real estate firm, including recruiting, marketing, and technology leaders. Technology partners focused on the brokerage segment to provide foundational support for the organization. Brokerage applications are submitted online through a secure and confidential application found here.
