NAR Announces New Pocket Listing Rules

Pocket Listings may go the way of the dinosaur, tiny homes are coming to a town near you, and a home with a sex dungeon is off the market, but still open for business, on this week's Closing Time Podcast
Bright MLS debuts new pocket listing rule

The policy requires agents to put any listing they're advertising into the MLS and comes at a time of growing concern over off-market listings
The new policy gives members of Bright MLS, which has about 95,000 members in the Mid-Atlantic region, a day to post their listings “following consumer marketing of any kind,” according to a statement from the trade group. Marketing is defined as everything from flyers to yard signs to digital marketing on public websites to emails and more.
The new policy goes into effect today, though Bright MLS won’t start fining agents for violations until Dec. 1. After that time, the penalty for breaking the rule is a steep $5,000.

The new policy comes amid growing concern in the real estate industry over listings that remain off-market for either part or all of their lifespan. Such properties are sometimes referred to as “pocket listings” and in many cases eventually go public after an initial period of exclusivity. But they have nevertheless sparked an ongoing debate about competition and transparency within the industry.


MLS Clear Cooperation Policy

Recommendation: To adopt the following policy as new MLS Statement 8.0, NAR Handbook on Multiple Listing Policy:
Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
[updated 11/11/19]
Rationale: Distribution of listing information and cooperation among MLS participants is pro-competitive and pro-consumer. By joining an MLS, participants agree to cooperate with other MLS participants except when such cooperation is not in their client's interests. This policy is intended to bolster cooperation and advance the positive, procompetitive impacts that cooperation fosters for consumers. The public marketing of a listing indicates that the MLS Participant has concluded that cooperation with other MLS participants is in their client’s interests.



Tiny Houses, Tiny Crowd ...  Big Solution?
Katherine McComic has a “tiny” solution for New Haven’s affordable housing crisis: 100-square-foot-plus abodes built atop city-owned vacant lots that the municipal zoning code currently deems too small for construction.
McComic, a Quinnipiac University law student, former intern with the city’s Economic Development Administration, and former pop-up cafe entrepreneur, is working with city Deputy Director of Zoning Jenna Montesano to figure out how best to amend the city’s zoning code to allow for the development of such “tiny houses” in New Haven.
The goal: To diversify the city’s housing stock and increase the supply of low-cost, low-rent lodgings citywide.


Connecticut Is Considering Adopting Appendix Q

The State Building Inspector, State Fire Marshal and the Codes and Standards Committee announce intent to adopt the 2020 State Building and Fire Safety Codes based on the 2018 editions of the International Code Council (ICC) documents.  Technical review of these codes will be conducted by the Committee’s Codes Amendment Subcommittee (CAS) along with DAS staff.  This review will begin April 2019 and is planned to be completed August 2019.

Appendix Q: Tiny Homes On A Foundation

Appendix Q-Adopted into the 2018 International Residential Code ( IRC ) building code to provide regulations and standards for tiny homes on a foundation that is 400 square feet or less
Appendix Q relaxes various requirements in the body of the code as they apply to tiny houses that are 400 square feet or less.
Attention is specifically paid to features such as compact stairs, including hand rails and headroom, ladders, reduced ceiling heights in lofts and guard and emergency escape and rescue opening requirements of lofts.
The International Residential Code is a comprehensive, stand alone residential code that creates minimum regulations for one-and two family dwellings of three stories or less.



Owners pull sex dungeon home off market, pivot to BDSM rental
The owners of a notorious Pennsylvania home that went viral earlier this year after pictures of its basement sex dungeon were posted on Redfin and Zillow have pulled the property off the market and turned it into a erotic retreat.
In February, Coldwell Banker agent Melissa Leonard listed the Colonial-style home in the Philadelphia suburb of Maple Glen for $750,000. She put up photos of the house as well as its most interesting feature — a basement decked out with whips, chains and all things worthy of a “50 Shades of Gray” film set. While gaining a lot of attention, the photos of the dungeon were soon flagged as “inappropriate content” and pulled from Zillow and Redfin.
The owner told realtor.com that weekends in the property are fully booked through the retreat rental company Maison XS for the next six months.