Cooperative Compensation Rule Change
In accordance with NAR’s recent interpretation change regarding Cooperative Compensation, starting October 31, 2023, BeachesMLS will allow its users to enter $0 or 0% in compensation fields for all listings.
BeachesMLS’s policies are designed to ensure information is efficiently distributed to facilitate the transaction of real estate to the benefit of buyers and sellers. This additional flexibility is being offered to enhance the MLS and to continue to benefit consumers. It is important to remember that commission is not set by law, and it has always been, and continues to be negotiable.
In sum, the listing entry system will be updated on October 31, 2023 to allow users to enter any amount in a listing’s cooperative compensation fields, including zero. Below are some additional resources regarding compensation.
If you have an questions, please feel free to contact us at bmlsinquiry@rworld.com.
Source: National Association of Realtors®