Q. How do I format my compensation in the MLS?
Posted by PRO Thu, 07 Sep 2006 16:16:00 GMT
A. Compensation Specifications
Section 8.7 of the PRO Rules & Regulations states that the compensation specified on listings filed with MLS must appear in one of two forms:
- A percentage of the gross selling price
- A definite dollar amount
The rule also states that compensation expressed as a percentage must include the “%” sign and dollar figures must include the “$” sign. Failure to do so could result in a fine. “%” or “$” is very important to include so that MLS Participants clearly know the compensation they will receive in cooperative transactions.
