Effective August 17, 2024, due to the National Association of REALTORS (NAR) Settlement, MLS’s are implementing changes on displaying commissions.
Change Highlights:
- Compensation Removal from MLS: Offers of compensation will no longer be displayed on any MLS listings. No MLS fields, description or picture may reference compensation in any manner. 3rd party websites such as Zillow and Redfin will not display compensation either.
What Does This Mean for You, the Seller?
- Incentivizing Buyer Agents: You are still able to incentivize buyer agents by offering them a commission OUTSIDE of the MLS.
- Agent Inquiries: Agents may start calling you to inquire if you are offering a buyer agent commission.
- Offer Presentation: When an offer is presented, it will now include how much you are willing to pay the buyer’s agent as part of the offer, if any.
Click HERE To Read More About What This Means For Sellers
