As of August 17, 2024, the Multiple Listing Service (MLS) will no longer allow listing agents to include offers of compensation for a buyer's agent in their listings. This change is intended to address claims that homeowners were forced to pay inflated agent commissions.
Here are some other things that are not allowed in the MLS regarding commissions:
- Total commission disclosure: The MLS cannot require listing brokers to disclose the total negotiated commission in their listing contract.
- Total commission publication: The MLS cannot publish the total negotiated commission on a listing.
However, sellers and listing agents can still agree on the amount of the commission outside of the MLS. This can be done verbally, in emails or texts, or on the listing agent's brokerage website.
The new rules are intended to decouple the buyer fee from the seller fee. This means that the total amount paid may come from the buyer or the seller, and each commission will be negotiated.
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