MLS Rules and Regulations Update

On January 3, 2024, LVR MLS Rules & Regulations, Forms of Compensation Section 8.0, will be updated. Along with the policy update, there will be modifications to the LVR MLS Matrix™ system to ensure the flexibility of LVR MLS subscribers. This update will enable transparent negotiations between our members, their clients, and prospective buyers. It will allow members to enter any amount in a listing's cooperative compensation fields, starting from zero, as outlined in the policy below.

Forms of Compensation Offered:

The compensation specified on listings filed with the Multiple Listing Service shall appear in one of two forms. The essential and appropriate requirement by an Association Multiple Listing Service is that the information to be published shall clearly inform the Participants as to the compensation they will receive in cooperative transactions, unless advised otherwise by the listing broker, in writing, in advance of submitting an offer to purchase. Each listing must include entry of a value describing the offer of compensation. The amount entered may be any value, from zero and greater. LVR MLS does not set or suggest compensation values or the cooperative division of compensation.

LVR MLS has always offered this flexibility and has never specified a cooperative compensation amount. With this update, the listing broker/agent will continue to be able to enter the amount agreed upon with their seller, from zero and up, and as always, will be able to continue to negotiate compensation at their client’s direction.

Below are additional resources regarding compensation from the National Association of REALTORS®.

• https://www.nar.realtor/competition-in-real-estate/how-real-estate-compensation-works
• https://www.nar.realtor/about-nar/governing-documents/code-of-ethics/code-comprehension-article-16-commissions-are-negotiable