2022 MLS Rule 7.13 Explained
MetroList MLS Rule Update Reflects New National Guidance That Reinforces Greater Transparency for Consumers.
March 1, 2022
To improve transparency for consumers, the MetroList Board of Directors has approved revisions to MLS Rule 7.13 that Broker Participant's offer of compensation will be displayed on MetroList's public internet sites and will be included in data feeds to Participants and Subscribers.
These changes that MLSs across the country are adopting ensure public disclosure of Broker Participant's offer of compensation.
- Broker Participant's offer of compensation will be displayed on MetroList's public websites (metrolistpro.com and metrolistmls.com).
- Participants may display the offer of compensation to the buyer’s broker on their IDX websites.
- If the Broker Participant's offer of compensation is displayed, the website must also include a disclaimer that the offer is made only to Broker Participants of MetroList.
- No listing information shall suggest that the services of a Participant or Subscriber offered or provided to a client or consumer are free or available at no cost to a client or consumer, unless the Participant or Subscriber will receive no financial compensation whatsoever from any source for such services.
FAQ
Display of Listing Broker Participant's offer of compensation.
This policy reinforces transparency for clients and consumers working with MLS participants and subscribers in a real estate transaction.
No. MetroList does not collect or distribute information about the listing broker’s compensation.
An IDX Public Property Search website is an agent or brokerage website that uses an authorized IDX feed to integrate real estate listings from the MLS database into a public home search. It does not include sharing listing information on social media sites.
An MLS consumer-facing website is a website that the MLS makes available to consumers to access MLS listing content. Some MLSs operate or provide a consumer-facing website as a member service or benefit. It is at the MLS's sole discretion on whether to operate or provide a consumer-facing website.
No. MetroList MLS Rules do not require nor prohibit display of the offer of compensation for listings on an IDX website.
You should consult with the vendor that provides the IDX Public Property Search information for your website to determine if the offer of compensation will be displayed. Let them know your preferences for your website.
Yes. We anticipate that they will be adding the information to their websites in the near future.
To improve transparency for consumers and to comply with national recommendations to the MLS industry.
No. The Public Remarks field is for describing the property and its amenities. The offer of compensation is allowed only in the Commission to Buyer Office field.
Participants and Subscribers may include such offer of compensation in the Display of MLS listing information on their authorized public Internet sites provided that the display or disclosure of the offer of compensation include a written disclaimer stating that the offer of compensation is made only to Participants of the MetroList MLS.
No, the policy accounts for brokers and agents who do not have websites or use IDX. Participants and subscribers can determine how to best provide compensation information to their clients and consumers.
MetroList Participants and Subscribers may not represent their services as free unless they receive no compensation for those services.
Since you are being compensated for representing the buyer in a transaction, it would be a violation to claim that those services are free.
No. This rule does not prohibit providing free services.
To view the updated MLS Rules, click here. If you have any questions regarding this MLS Rule update, please email us at compliance@metrolist.net