Attention all MLS directors and real estate professionals! As we approach the end of the year, it's essential to ensure that we are following the necessary guidelines to maintain a successful MLS. Today, I want to share a crucial reminder that comes straight from the MLS Handbook.
Did you know that it is recommended for all associations to publish a notice to their general membership annually regarding the negotiability of brokerage commissions, subagency compensation, and compensation to buyer's agents? While it may be a recommendation and not a requirement, it's a best practice that should not be overlooked.
Here are the key points to remember:
- The notice must be displayed conspicuously in the compilation of current listing information.
- Associations operating an MLS are required to certify to the National Association of Realtors (NAR) that the notice has been reproduced.
- Associations without an MLS should publish the notice in their newsletter or other membership information dissemination vehicle.
By taking these steps, we can ensure transparency and uphold the highest standards within our industry. Let's continue to provide exceptional service to our clients and maintain the integrity of the real estate profession.
Thank you for this question, and I hope this reminder serves as a helpful guide as we wrap up the year. Wishing you all a safe and joyful holiday season!
#RealEstate #MLS #BestPractices #IndustryStandards #Transparency #Professionalism
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