Section 8.7: Listing Compensation Appears in One of Two Forms
Posted by PRO Fri, 24 Mar 2006 14:45:00 GMT
The compensation specified on listings filed with MLS appears in one of two forms:
- A percentage of the gross selling price
- A definite dollar amount
The correct symbol, $ before a dollar amount or % following a percentage must appear in the compensation field. For example: $xxxx or x% or x%+$xx.
The MLS requires that the published information clearly inform Participants of the compensation they will receive in cooperative transactions unless the listing Participant advises them otherwise in writing and in advance of the cooperating Participant’s producing an offer to purchase.
The following violation is subject to the Progressive Fine and Rules Schedule as stated in Section 10.1:
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Filing listings with no compensation in the MLS database. |