NAR Policy Changes 2025: How Faster MLS Data & Transparent Sold Prices Help Homebuyers

Major policy changes approved by the National Association of Realtors (NAR) are set to significantly increase transparency and efficiency in the US housing market starting January 2025. These updates will provide consumers with more accessible sold home data, faster listing updates, and more comprehensive search results, empowering homebuyers and sellers with better information directly from the Multiple Listing Service (MLS). Based on our experience assessment, these changes will enhance the consumer's ability to make informed real estate decisions.

What Are the Key NAR Policy Changes for 2025?

The NAR board voted to implement three significant revisions to its policies governing the MLS, which is a database of properties for sale maintained by real estate professionals. These changes are designed to directly benefit consumers by improving the quality and accessibility of listing information on brokerage websites.

1. Enhanced Access to Sold Home Data: Consumers will no longer need to create an account or log in to view detailed information on recently sold properties on participating brokerage sites. This includes photos, list prices, and final sale prices for homes sold within at least the past three years, provided the data is available in public records. This increased transparency helps buyers and sellers better understand local market values.
2. Mandated Faster Data Updates: Brokers will now be required to update their listings in the MLS every 12 hours, and the MLSs themselves must update their data feeds on the same schedule. This policy aims to ensure that the information consumers see online is as current as possible, reducing frustration over outdated availability or price details.
3. Unified Search Across Multiple MLSs: Brokerage websites will be permitted to display listing results from several different MLSs in a single, integrated search. This addresses a common pain point for buyers in regions where properties are listed across multiple MLS databases, providing a more complete and convenient view of all available homes.

How Will Faster MLS Updates Benefit Homebuyers?

The new 12-hour update rule is a substantial improvement for market pace. In a competitive market, seeing a new listing hours after it becomes active can be the difference between securing a showing and missing an opportunity. The policy mandates a baseline for data freshness, ensuring all brokers meet a minimum standard. Some brokerages, like Redfin, already refresh data more frequently, but this change raises the bar for the entire industry, giving all consumers access to more timely information.

Why is Transparent Sold Home Data Important for Pricing?

Access to comparable market analysis (CMA) data is critical for both pricing a home to sell and making a competitive offer. A CMA involves comparing a property to similar homes that have recently sold in the area. By making sold data—including photos and prices—readily available without a login barrier, the new policy empowers consumers to conduct preliminary research. This helps sellers set realistic initial list prices and allows buyers to gauge if a home is fairly priced before even contacting an agent, leading to more confident and data-driven decisions.

In summary, the January 2025 NAR policy changes represent a positive shift toward greater consumer empowerment in real estate. The key takeaways for homebuyers and sellers are:

• You will have easier, no-login access to crucial sold home data.
• Listing information on brokerage sites will be updated more frequently.
• Searching for homes across different MLS regions will become more seamless.

These updates are expected to create a more efficient and transparent market for everyone involved.