Directly from NAR Site
Legal
BeachesMLS Policy & Rule Changes FAQs As a buyer agent, if compensation is no longer in the MLS, how will I know what commission I am being offered from the seller, if any? You will need to contact the listing agent or visit their website to see if there is an offer there. Will I need to change my listing agreement after August 13th? Yes, you will need to add to your existing agreement...
MLS Participants are prohibited from communicating any offer of compensation via the MLS. All broker compensation fields will be eliminated on MLSs opting into the settlement practice changes. 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...
MLS Participants are prohibited from communicating any offer of compensation via the MLS. BeachesMLS will eliminate broker compensation fields. 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...
Eliminate and prohibit any requirement that compensation offers be made in the MLS between listing brokers or sellers and buyer brokers or other buyer representatives. Eliminate and prohibit MLS Participants, Subscribers, and sellers from making any compensation offers to buyer brokers or other buyer representatives in the MLS. Require the MLS to eliminate all broker compensation fields...
 Flexmls Field Changes Fields that will be removed Comm/Non-Rep Comm/Buyer Agent Comm/Trans Brk Bonus Var/Dual Rate Comm Renewable Commission Description Seller Concessions Comments Buyer Contribution Comments Fields that will be added Negotiable Seller Concessions YN Lookup Values that will be removed from Concessions: Seller Concessions Commissions Doc...
What You Need to Know As BeachesMLS participants and subscribers, we want you to feel as prepared as you can be to navigate these changes. Here are some key highlights regarding the settlement changes. On August 6th, you will be asked to affirm your subscription to BeachesMLS by signing the updated Participant and Subscriber agreements when accessing the MLS through your dashboard. The MLS will...