NWMLS updates selling office commission rules
In a move to increase transparency and flexibility for consumers and brokers, the Northwest Multiple Listing Service (NWMLS) will update its rules concerning the publishing of selling office commissions (SOC).
The rules update will take effect on October 1, 2019 and will make three basic changes. The update will allow the selling office commission (SOC) to be published on a brokerage firm’s public website; it will allow the seller to choose not to offer a selling office commission in the listing agreement; and it will allow buyer’s to negotiate a selling office commission as part of the buyer’s offer to purchase the subject property.
Please see the NWMLS website for the specific rules and forms being updated. All questions should be directed to NWMLS. Please read their press release here:
Comments are closed.