Post Settlement MLS Rules Changes will remove the OFFER of compensation from MLS.

Recall that MLS is a CONTRACT between participants.

Recall from your real estate schooling that a CONTRACT results from an OFFER and an ACCEPTANCE and CONSIDERATION.

Therefore, the OFFER of compensation in MLS becomes a mere COMMUNICATION or ADVERTISEMENT of compensation, but not a legal OFFER of COMPENSATION that can be ACCEPTED and enforced by the CONSIDERATION of the MLS.

So, get the communication/advertisement of compensation into an enforceable contract (e.g., SCR120 compensation agreement) that you can sue to enforce via courts or REALTOR® arbitration.

https://www.nar.realtor/magazine/real-estate-news/law-and-ethics/communicating-offers-of-compensation?utm_term=A535F674-1FE5-4DE7-86BF-2B71C40DD9BA&lrh=f3d3398596de554c8ce28d0171fc77ec79f4cbe447d90ba1a9b8eade908d8477&utm_campaign=34FB1440-92D5-42F6-A71E-28B6B1CB1AB4&nwsltr=navnar&utm_content=891F4DC8-4A8A-4358-AEC2-3B0D3D8CF8F5

Posted by: Byron King on 06/11/24 (This information is only accurate as of 06/11/24. You must contact SCR for updates and changes to this information after 06/11/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)

This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.