On the MLS, the supplements are NOT seen by anyone but agents – why can’t the compensation be put in that section in the MLS?
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, facilitate, or support any non-MLS mechanism (including by providing listing information to an internet aggregator’s website for such purpose) for Participants, Subscribers, or sellers to make offers of compensation to buyer brokers or other buyer representatives.
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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, ...
If we are providing information about BAC’s on our IDX or another source, can we add a document directing agents where to receive that information in our Supplements or in the Private Remarks?
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Will we record what Buyer’s Agent Compensation (BAC) was paid, just as we do seller concessions currently?
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