Don’t forget that Making Offers of Compensation or “Intent” to Make Offers of Compensation in the MLS or any affiliated MLS/Association product (i.e; ShowingTime, Supra, Space Coast Launch Pad/Real Marketing Email Blast, etc) is an immediate file.
What does “Intent” to Make Offers of Compensation mean?
Do not include any type of language, that in short, was not used before the Compensation section was removed from the MLS. Phrases such as “Buyer’s Agents Welcome”, “Seller loves Buyer Brokers”, etc., though not specifying a particular amount, would still be considered as intending to convey that the Seller IS offering some sort of compensation. Any references to compensation are prohibited in the MLS & MLS/Association affiliated products.
Where Can I Communicate Offers of Compensation?
You are still able to communicate the offer of compensation by any and all other means outside of the MLS, this could include:
· On the Listing Broker’s website
· Signs and Sign Riders
· Social Media
· Text, Email and Phone Calls
· Flyers
Section 5.0 – No Compensation Specified MLS on Listings: See Fine Section 22.16
Participants (Brokers), Subscribers (Agents), or their sellers may not make offers of compensation or the intent to make offers of compensation to buyer brokers and other buyer representatives in the MLS.
If an offer of compensation or the intent to communicate an offer of compensation is communicated within the MLS or any of the ancillary products, the offer of compensation will be removed immediately by the MLS department.
Use of MLS data or data feeds to directly or indirectly establish or maintain a platform to make offers of compensation from multiple brokers to buyer brokers or other buyer representatives is prohibited and must result in the MLS terminating that Participant’s access to any MLS data and data feeds.
Section 22.16 – Fine for Communication Offers of Compensation in the MLS:
If an offer of compensation is communicated within the MLS or any of the ancillary products, the offer of compensation will be removed immediately by the MLS department, and you will be subject to the administrative fines as established in the Space Coast MLS Rules and Regulations. This includes but is not limited to inputting a link on the MLS directly to a listing broker's website which includes an offer of compensation.
For a first violation, an administrative fine of $ 1,000.00 and required to attend the MLS sponsored 2-hour class of instructions on the MLS Rules and Regulations within 90 days of notification by the MLS for the first violation. If after 90 days, class has not been taken, an additional fine equal to that of the original fine will be assessed monthly until class is taken. A second violation will result in a $1,500.00 fine to each the MLS Subscriber (agent) and the MLS Participant (Broker).
Any subsequent violations by the same MLS Participant (Broker) acting as a listing agent, or MLS Subscriber (Agent) for listing of compensation in the MLS, the MLS Participant (Broker) and MLS Subscriber (Agent), will each be assessed an administrative fine of $3,000.00.