Dear Shannon: An End-of-Year MLS Update
An MLS director wants recommendations for things to do by the end of 2023, and one task they should consider is confirming a required notice has been done.
ORLANDO, Fla. – Dear Shannon: I’m the MLS director for our local association and don’t have a specific issue, but I’m wondering if you have a reminder or tips for MLSs before the end of the year.
While I’m asking, though, I wanted to thank you for all the good articles and beneficial guidance you’ve provided throughout the year. You and Florida Realtors®’ Law & Policy Team are just one of the many reasons I value my membership so much. Thanks for all you do – Just Wondering
Dear Just Wondering: Thank you so much for the positive feedback. I’m glad you’re reading the articles and benefit from the guidance. The Law & Policy Team is thrilled that you find our services one of the many valuable benefits of Florida Realtors membership.
And thank you for the question. Yes, I do have a good reminder for MLSs before the end of the year. It comes from the MLS Handbook, “Section 18. Compilation of Current Listing Information (Policy Statement 7.39),” which states:
“Any compilation of current listing information shall display the following notice in a conspicuous manner:
Notice to Association Members
Under the long-established policy of this association, the (state) association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®:
- The broker’s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement.
- The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the listing broker. (Amended 4/92)
In addition, it’s recommended that all associations publish this notice to their general membership at least annually. Every association operating a multiple listing service is required to certify to the National Association of Realtors® (NAR) that the notice to association members concerning the negotiability of brokerage commissions, subagency compensation, and compensation to buyer’s agents has been reproduced in their compilation of current listing information.
Further, associations that do not operate an MLS shall publish the notice to association members in their newsletter or other vehicle for membership information dissemination and shall so certify to the National Association. (Amended 11/88)”
Recommendation vs. requirement
You see the recommendation that this notice be published to your general membership annually? Even though is a “recommendation” and not required, it’s a good idea to do this every year.
You must, however, make sure the notice is in your compilation of current listing information. That is required.
Thank you for the question and opportunity to give the MLSs this notice reminder. Wishing you and yours a safe and happy holiday season.
Shannon Allen is an attorney and Florida Realtors Director of Local Association Services
Note: Advice deemed accurate on date of publication.
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