Section 2: Compensation Required
Stellar MLS does not publish listings that do not include an offer of compensation nor does it include general invitations by Listing Participants to other Participants to discuss terms and conditions of possible cooperative relationships. 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. The compensation specified on listings published by the MLS shall be shown in one of the following forms:
A. By showing a percentage of the gross selling price
B. By showing a definite dollar amount
If a bonus is being offered in addition to the compensation offered, the separate bonus field should be used to outline the bonus offered. (Updated 1/2014)
Note: The penalty for non-compliance is outlined in the General Fine Schedule (See Article 11/Section 4B).