Quick Guide for California MLS Rule Updates
With the upcoming NAR settlement changes, major MLSs across California are updating their rules regarding the display of agent commissions. This guide provides a concise overview of the key dates, updated fines, and necessary actions for agents to stay compliant.
Key Dates for Commission Removal
CRMLS:Effective Date: August 13, 2024
MetroList:Effective Date: August 12, 2024
BridgeMLS:Effective Date: August 12, 2024
MLSListings:Effective Date: August 12, 2024
BayEastMLS:August 12, 2024
SDMLS Paragon: August 12, 2024
MLS Update: Fines and Guidelines
With the implementation of these changes, MLSs will enforce stricter rules and fines to ensure compliance. Agents should be aware of the following:
No Mention of Commissions: All mentions of commissions must be removed from private remarks for current listings.
Updated Fines: MLSs will implement fines for agents who attempt to circumvent these rules by mentioning commissions in concession spaces or other terms. Check your specific MLS guidelines for detailed fine structures. We have noticed fines but to $2,500 for direct violations.
Important Reminders
Active Listings: For most MLSs, any commission details entered for active listings will automatically disappear on the effective dates listed above.
Non-Binding Concessions: Note that concessions will not serve as binding agreements as commissions once did. Ensure all communications comply with the new rules.
Resources: California's MLS Rules and Regulations
For further information and detailed guidance, please refer to the following resources:
Stay informed and compliant with these updates to ensure a smooth transition and avoid any penalties. For additional support and resources, visit your MLS’s official website or contact their support teams.
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