The MLS was historically used to communicate cooperative compensation offers from sellers to buyer agents. Post-settlement, MLS listings can no longer display offers of buyer agent compensation. Additionally, some MLSs now require proof of a signed buyer agreement before granting showing access.
An agent searching the MLS for properties can no longer filter by buyer agent commission amount. The listing shows the property details but not how much the seller might contribute to buyer agent fees. The agent must ask the listing agent or seller directly.
Know what CHANGED on MLS (no comp offers displayed) and what STAYED THE SAME (property data, photos, listing details). Also know that sellers CAN still offer buyer agent comp — just not through MLS.
Related Terms
Related Concepts
The fiduciary obligations a buyer's agent owes to their client, including loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care.
A form that explains to the buyer the types of agency relationships available and the duties associated with each, required to be provided before substantive discussions begin.
The practice of a listing broker sharing commission with a buyer's broker, historically offered through the MLS but now prohibited from MLS display under the 2024 NAR settlement.
An initial meeting between a buyer and agent to discuss the buyer's needs, explain agency relationships, review representation agreements, and establish expectations for the home-buying process.
The duty of a buyer's agent to act solely in the buyer's best interest, avoiding any conflicts of interest and putting the buyer's needs above the agent's own financial interests.
Frequently Asked Questions
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