Buyer & Listing Agreement

The settlement empowers consumers with choice when it comes to services, compensation, and marketing strategies that meet their needs. Real estate professionals should work with sellers to ensure they fully understand their options, including the ability to make offers of compensation off-MLS to brokers working with buyers.

The settlement expressly preserves offers of compensation as an option when agreed upon by the consumer and the broker. Offers of compensation are good for buyers and sellers and help make the path to homeownership accessible for all buyers, especially first-time, low-income, and other underrepresented homebuyers.

Offers of Compensation Can Be Made Off-MLS

NAR Policy does not dictate whether an offer of compensation is made. The amount—and existence—of any offer of compensation is an option solely determined by the real estate professional and the consumer.

In cases where a seller believes it is in their best interest and makes the informed decision to instruct their listing broker to offer compensation to buyer brokers, the listing broker may communicate the offer of compensation off-MLS. For example, the offer of compensation for the broker’s listing could be communicated through common marketing methods such as on the broker’s website, signs, flyers, social media posts, or by communicating directly with the buyer broker.

Seller Consent Is Required

As of August 17, 2024, before a REALTOR® or MLS Participant makes an offer of compensation or a payment to another broker, agent, or other representative (e.g., a real estate attorney) acting for a buyer:

• The REALTOR® or MLS Participant must conspicuously disclose to sellers and obtain seller approval for any payment or offer of payment that a listing broker will make to another broker acting for buyers and

• This disclosure must be made to the seller in writing in advance of any payment or agreement to pay another broker acting for buyers, and the amount or rate of such payment must be specified.