Offers of Compensation
There has been a lot of talk about offers of compensation and maybe some people have a statement to the effect of “non-XYZ board members will not receive compensation”. That is a violation of the MLS Rules and Regulations.
A couple of things to know:
- Section 5 paragraph 2 of the MLS Rules & Regulations reads: In filing a property with the MLS of a Board of REALTORS®, the Participant of the Service is making blanket unilateral offers of compensation to the other MLS Participants and shall therefore specify on each listing filed with the Service, the compensation being offered to the other MLS Participants. Specifying the compensation on each listing is necessary because the cooperating broker has the right to know what his compensation shall be prior to his endeavor to sell.
- Finally, Space Coast Association of Realtors® participates in MLSAdvantage. MLSAdvantage allows participating boards and members to share available MLS listings across the state. What does that mean for you? It means that properties listed in Space Coast MLS are guaranteeing the offer of compensation to all other participant members of MLSAdvantage. What this also means is if you find a property for your buyer in MLSAdvantage, you too are guaranteed the offer of compensation! Click here to learn more about MLSAdvantage.
To learn more about Space Coast Association of Realtors® MLS Rules and Regulations click here.