The MLS has historically been the go-to place for Realtors® to see compensation structure on the buying side or to communicate compensation as the listing agent. If NAR's proposed settlement is approved, compensation will no longer be in the MLS. 

Compensation will, however, be available outside of the MLS. What does that mean for all parties involved, and what is considered off-MLS? This may consist of numerous platforms, but here are some main channels where buyers' agents can browse freely and discover compensation details about a listing. 

Brokerage or Personal Websites

The broker of a listing or the listing agents can store compensation details for their listings only directly on their website. This would be fairly easy to stumble upon, knowing what the listing structure offers so buyers' agents know how to communicate information effectively to their buyers. Keep in mind that although compensation details are permitted for the originator of the listing, i.e., brokerage or listing agent, IDX feeds housing compensation details from other listings, not from the listing agent or outside of the brokerage, would be prohibited.   

Social Media Platforms

Social media plays a role in how listing agents communicate compensation. For example, once a property is entered into the MLS, the listing agent may create an album or a post with details and pictures of the property. Most social platforms allow a place for text-based details; some platforms can cross-link or enable external hyperlinks to reroute people to their websites. Listing agents may start adding compensation details directly to social platforms. 

Online Forums 

Online forums, such as Reddit, Quora, and others, may not be the most popular platforms, but they may play a significant role in the real estate market. These information hubs are utilized more than people think and have the ability to build-in SEO based on discussion topics. Listing agents may start or open threads, tag, and filter by preference to communicate listing details or compensation amounts. 

As Realtors® and the industry prepare to evolve, so will functionality and/or future policies and procedures, but nevertheless, business will continue to be productive. It just may take an extra step, and if you can't find things quickly, you can always make a phone call or email the listing agent requesting details. One thing to remember on both sides is that commission has always been and will always be negotiable.

By BeachesMLS Staff
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