Can we negotiate offers of compensation as we are negotiating purchase agreements and counteroffers?
In other words, can they be flexible in the future?
Yes. Brokers, with authorization from their respective clients, may mutually negotiate compensation at any time.
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Can a broker offer different offers of compensation to different brokerages or for those who are REALTORS® or not REALTORS®?
If the seller has agreed, varied offers will be allowed. Under the proposed settlement, the requirement that offers of compensation be "blanket and unilateral" is going away. However, brokers should consult with their attorney or the IAR Legal ...
We’ve Updated Our Participant & Subscriber Agreements
On or after July 1, 2024, when you log into the BLC® you will see a pop up with our revised Participant Agreement or Subscriber Agreement, depending on your membership type. Due to the practice changes going into effect on July 1, 2024, and other ...
How Can I Purchase a Lock Box
To purchase lock boxes through our REALTOR® Store, visit MIBOR Central and click "Shop," then select the item for Master Lock Lock Box, add the item to your cart and choose to either “pick up “or “ship to me.” Members can also choose to shop our ...
Can we use a rider on our sign to communicate an offer of compensation?
Yes. Signs are independent of information provided through the BLC®. No mention of compensation is allowed in the BLC®. The communication of any compensation offers in the BLC® is prohibited by rule and the settlement agreement.
Since compensation is being removed, can we put in remarks the URL to visit our website for further info where the compensation will be listed?
No. The BLC® is required to eliminate all broker compensation fields and compensation information in the MLS. That includes any means of making any offer through the BLC® in any way. In addition, the settlement requires the BLC® to not create, ...