Do you have to pay compensation offered in the MLS to a nonparticipant?
11/12/2015 | Author: Editorial Staff
My seller just entered into a contract with a buyer whose broker doesn’t participate in my MLS. The buyer’s broker says I must pay him the compensation I offered with my MLS listing when the sale closes. Is that true?
No. A listing broker’s offer of compensation in the MLS only applies to other MLS participants and cannot be enforced by a nonparticipant. You and the nonparticipating broker can negotiate other compensation using the Registration Agreement Between Brokers (TAR 2402) form.
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