IDX Display of Cooperative Compensation
One of the most significant rules to come out of NAR’s November 2021 Conference is the requirement of MLSs to include cooperative compensation fields in the IDX data feeds. As of March 1st, 2022, cooperative compensation fields will not be listed as restricted under CVR Rule 11.3.1, allowing agents (with Participant’s permission) to display compensation fields on their IDX websites. These Matrix fields are:
It is up to the Participant whether these fields may be displayed on any IDX site. Please have a conversation with your broker to determine if your firm will allow these fields to be displayed. If you do display the cooperative compensation on your IDX site, you must work with your IDX provider to (a) include all relevant compensation fields and (b) include the mandatory disclosure regarding the offer of compensation, which can be found in CVR MLS 11.3.5.
NAR did not include VOW sites in its mandate. Instead, it offers the MLS the option to adopt these requirements on the VOW side. The VOW site compensation will be discussed at the March CVR MLS Committee meeting. If such a recommendation is made, it will be considered by the CVR MLS BOD in April.
Many other rules came out of NAR’s November 2021 Conference. A summary of the new rules can be found here.
If you have questions about any of the new MLS rules, please contact the MLS team at [email protected] or (804) 422-5004.