From our friends at Inman News:
Although it’s not pointing a finger directly at Zillow, the National Association of Realtors is warning that brokers who do not act in the best interests of their clients and fail to disclose the pros and cons of “coming soon” marketing strategies may be exposing themselves to legal and professional liability.
Real estate listing portal giant Zillow launched a new feature last week allowing certain agents, brokers and MLSs to market homes on the search site as “coming soon” up to 30 days before they hit the MLS.
Here in Indiana:
Participating in Zillow’s “coming soon” feature would result in a violation of Indiana licensing law and is subject to fines of $600. The warning was based on policies put in place last year by the Metropolitan Indianapolis Board of Realtors (MIBOR) to address “coming soon” and “pocket listings”.
