Under the new compensation rules, a listing agent may:
Correct Answer
B) Negotiate directly with a buyer's agent about compensation off-MLS
Compensation to a buyer broker can still be agreed; what changed is where. The negotiation happens off the MLS, by phone, email or in the offer itself. Other choices: to advertise buyer agent compensation on the MLS is the one practice the changes ended outright; requiring the buyer's agent to accept the rate the seller has set treats a negotiable fee as fixed, which is the behavior the antitrust claim was about; and refusing to work with buyer's agents entirely is not a right the changes confer, and an agreement among brokers to do it would be a boycott. Source: NAR settlement practice changes, effective 17 August 2024.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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