We cannot do anything about the amount, but we can remind you to stay in compliance!
Avoid the following:
- Submitting 0 in the compensation field
- Mentioning compensation in the Public Remarks or REALTOR Remarks fields
NAR Policy Statement 7.23 requires MLS participants to specify the compensation offered by the listing broker for each listing, therefore, the MLS cannot publish listings that do not include offers of compensation.
MLSOK Rules and Regulations 3.17 states that the MLS shall not fix, control, recommend, suggest, or maintain commission rates or fees for services to be rendered by Participants. Further, the MLS shall not fix, control, recommend, suggest, or maintain the division of commissions or fees between cooperating Participants or between Participants and non-participants.
MLSOK Rules and Regulations requires that only descriptions of the property are entered into the MLS System remarks and requires participants to specify the cooperating commission offered in each listing. Under 3.7, a listing agreement authorizes the listing participant to make blanket unilateral offers of compensation.
The MLSOK Compliance Guidelines issue a fine when compensation is entered in any field other than the designated cooperating commission field, except for potential court-mandated compensation or bonus details. Therefore, participants cannot enter compensation terms in the remarks, only in the compensation field.
Here’s a helpful article from NAR: