MA Realtor forms inconsistent with new MLSPIN policy
Realtor forms authorize agency to agency compensation
The current version of the Massachusetts Association of Realtors forms conflict with the new MLSPIN policy announced Tuesday that state “Listing brokers and cooperating brokers will no longer split commissions.”
Specifically the “Authorization to Offer Buyer Broker Compensation Addendum #709A” which is referenced in Section 5 of the MAR Exclusive Right to Sell Listing Agreement, provides for agency to agency compensation. Most agents using this form will most likely be posting their listing to the MLSPIN. However MLSPIN changes announced earlier this week only allow for the posting of commissions if paid by the seller, not the list agency.
Agency to agency compensation and buyer broker fees paid by seller are two different things.
Consequently if a Realtor uses the Addendum, and then fills out the MLSPIN form using the numbers in the Addendum, as is bound to happen probably on a widespread basis, the Realtor is conflating the two distinctly different concepts.
I’m not sure of the legal implications, remember I’m not a lawyer or Realtor (doubly thankful).
Important note, not all MLSPIN customers are members of the Massachusetts Association of Realtors. The inverse is also true.
MLSPIN has not announced the details of the new policy, including how existing listings will be impacted or updated and if the new information will be syndicated publicly or available to agents only.
