Real Estate

NAR Board Approves Display Of Buyer Broker Commissions

The board of directors of the National Association of Realtors on Monday approved several multiple listing service policy proposals, including one that requires MLS to allow brokers and agents to display buyer broker commissions.

The policy requires MLSs to display buyer broker commissions on their listing sites and to include buyer broker commissions in the data feeds they provide to agents and brokers, but does not require that the brokers and agents using the feeds display buyer broker commissions.

The board voted 521 in favor of the policy and 258 opposed at the 1.5 million-member trade group’s annual conference, the Realtors Conference & Expo, in San Diego.

Although the policy proposal aroused spirited debate at the Multiple Listing Issues and Policies Committee meeting on Saturday, only one NAR director commented on the policy before the vote Monday morning.

Liz Harris of WeSERV Realtors in Arizona said she had posted the proposed policy on an agent forum on Facebook and 4 out of 5 agents were “adamantly opposed.”

“NAR is here to represent the members, not to make plea deals with the Department of Justice,” she said.

The approved policies go into effect Jan. 1, 2022 and MLSs have until March 1 to implement them.

Developing…

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