FAR Calendar (Board of Directors)

Fresno MLS Rules and Regulations Citation Policy Update

Starting Tuesday, October 15th

A lot is changing and may continue to change with regards to the N.A.R. Settlement and how the Fresno MLS navigates requirements.

The grace period for education on compensation not being allowed to be entered into the MLS is ending and starting Tuesday, October 15th, the new citation policy will be in effect.

Important Notes:

7.14 No Compensation Specified on MLS Listings.

7.14.1 No offers of Compensation Permitted in the MLS.

Participants, Subscribers, and their sellers are prohibited from making offers of compensation to buyer brokers and other buyer representatives via the MLS on any listing filed with the MLS in the MLS’s database. Participant and Subscribers are not permitted to include an offer of compensation on any field, photo, attachment, or supplement file on a listing the MLS.

7.14.2 No Reporting of Compensation.

Participants and Subscribers are prohibited from disclosing in the MLS, in any way, the amount of total commission negotiated between the seller and listing broker, or total broker compensation (i.e., combined compensation to both listing brokers and buyer brokers).  

The update to the citation policy is as follows:

1. Automatic $2500 citation in violation of FMLS Rules FMLS Rules 7.14.1 and 7.14.2

2. Automatic $2500 citation for showing a listed property without a representation agreement with a buyer. FMLS Rule 8.3

Check your emails for continued updates and information and be sure to join Byte Sized Brilliance with Consuelo & Audrey on Thursday October 3rd to go over the new changes to the citation policy. 

Please be sure to share this with your colleagues and in your Office meetings!