With the NAR Settlement release, changes are coming across the board. This includes our MLS Rules and Regulations and our FLEXMLS system itself. Here is the major change(s) that you need to know about relating to the NAR Settlement that you’ll encounter in FLEXMLS.
The biggest change in FLEXMLS will be with the Commission Info and Compensation Fields. What you need to know is that effective as of August 6, 2024, these fields have been removed completely from the MLS.
As of August 6, 2024, and coupled with the updated MLS Rules and Regulations, you will NOT be permitted to add compensation language or commission information into the MLS at all. That means that when you enter a listing, the fields as you see them below will no longer exist and will not be available for any listing in FLEXMLS.
Effective August 6, 2024, you will NOT be permitted to add compensation language or commission information into the MLS at all. That means that when you enter a listing, the fields as you see them below will no longer exist and will not be available for any listing in FLEXMLS.
You will also be prohibited from entering any compensation language into the Marketing Remarks and Private Remarks fields, which includes the words “compensation,” “commission,” and “concessions”. You will also be prohibited from adding external website links into those fields.
IMPORTANT NOTE: Compensation information will be retained in any final listings marked as closed, expired or cancelled as of August 5, 2024. This change will be effective on August 6, 2024 and compensation information will be removed from any non-final or new listings moving forward.
