Aug. 13 deadline set to end offer of compensation field in MLS 

By Jon Broadbooks, CEO

The Michigan Regional Information Center (MichRIC) (formerly SWMRIC) is a regional data share network comprised of 14 local Association MLSs, including the West Michigan Lakeshore Association of REALTORS® MLS (WMLAR MLS). Each member MLS maintains its own rules, regulations, policies, and procedures that govern the data included in the vendor product commonly known as FlexMLS.

On Aug. 13, 2024, MichRIC will eliminate the offer of compensation field, a last major step in complying with a legal settlement mandating the change.  

This means that after this date the WMLAR MLS will no longer accept any language regarding offers of compensation. Not only will the offer of compensation field be eliminated, but practitioners cannot insert offer of compensation language anywhere in either public facing or agent-only remarks in the MLS.  

MichRIC advises that once the fields are removed, access to historical data on compensation will also end. Although the data will be retained by the MLS for archival purposes, users will not be able to access it.  

The terms of the settlement between NAR and those seeking redress for alleged anti-competitive practices goes into effect Aug. 17, 2024.  NAR FACTS

To make sure the changeover occurs with a minimum of technical disruption, MichRIC has arranged with its vendor, FlexMLS, to make the change in advance of the settlement date.