New MLS Regulations: How will they affect you?

 
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NEW REGULATIONS

The NorthstarMLS recently enacted new regulations regarding Private Listings. These regulations are in place as of March 1, 2020 and might change a little bit about how Buyers and Sellers find and list properties for sale. Find out below how these new legislative changes may affect you.

Why you don’t need to worry:

At the Cynthia Froid Group, we have our finger on the pulse of the Downtown Minneapolis real estate market and are always evolving and are ahead of the curves the market may bring. With our marketing abilities, your property will stand out amongst the crowd.

HOW WILL THEY AFFECT YOU?

Informing our clients and neighbors of real estate industry changes that will affect them is always a top priority of ours. Our local MLS and the National Association of Realtors (NAR) recently announced sweeping regulatory changes to how private listings (“pocket listings” or “coming soon listings”) may be marketed. In short, the new rules do not allow any non-MLS listing to be publicly marketed. What does this mean for you? Whether you’re buying or selling, this will likely change the way you shop for a new home or the way you position your home to sell. 

BUYERS

Buyers may no longer be able to easily locate off-market private listings unless they are working closely with an agent with an extensive network. We have our finger on the pulse of the downtown market and constantly network with other downtown professionals to find the perfect fit for our buyers.

SELLERS

Sellers may be limited in how they can privately market their property for an off-market sale, and should discuss their options with their agent for how best to position their property for the market. We have strategies in place to continue offering our top notch marketing services for our client’s listings according to the new regulations.

 
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