Do Not Use These Words on the MLS!

Given the recent NAR settlement, MLS systems, including MRED, may start flagging words related to compensation and cooperation in real estate transactions. Here are some similar terms that could potentially be scrutinized:

1. Commission

2. Fee

3. Remuneration

4. Incentive

5. Rebate

6. Payout

7. Split

8. Earnings

9. Allowance

10. Payment

11. Contribution

12. Honorarium

13. Reward

14. Bonus

15. Profit-sharing

16. Retainer

17. Service charge

18. Compensation agreement

19. Brokerage fee

20. Buyer's agent fee

21. Seller contribution

22. Broker compensation

23. Listing agent commission

24. Buyer rebate

25. Net proceeds

26. Referral fee

27. Profit margin

28. Agent commission

29. Shared proceeds

30. Service fee

    
    

These words and similar phrases might draw attention, as regulators aim to ensure transparency and fair practices in the disclosure and structuring of fees in MLS listings. It’s wise to stay updated on any flagged terminology changes MRED or other MLS boards may issue post-settlement.