In the wake of the Burnett decision, copycat lawsuits are popping up across the country. There’s no denying that organized real estate is being challenged, but looking ahead, our motto is clear: Disruption only happens to the unprepared.
While the future of compensation hangs in the balance, being able to clearly and concisely communicate your value proposition will have a direct impact on the money you make. This is the North Star guiding everything we’re doing to escalate awareness among our brokers/agents about the MLS being more valuable than the offer of compensation.
Committed to driving progress and innovation in the real estate industry, to provide customers with even more flexibility in the listing compensation fields and serve as an indicator of a broader industry shift, this past November, we updated our rules and regulations in addition to the Matrix system to allow for any amount to be entered in the listing compensation fields, including offers of $0.
As an MLS, we’re more than just compensation. And as far as changes go, it’s more than just the zero now being acceptable as an amount in the compensation field per the National Association of REALTORS®’ reinterpretation of its policy.
These days, it’s all about demonstrating our value to our stakeholders, our brokers and our agents—and illustrating that just because compensation is zero in the MLS doesn’t mean that the MLS has no value.
Looking further than compensation, we’re about the data, the products and services that tie everything together. That one-stop marketplace for anything related to the MLS and data. And we must continue to show the value of MLSs to our brokers through technology, communication and collaboration.
There’s no telling exactly what the future holds in light of the ever-evolving legal landscape, but the impact stands to be significant as more lawsuits are filed challenging offers of compensation. One thing is certain, however: the unwavering value of the MLS. What if we focus on the big picture, so everyone thrives?
For more information, please visit https://www.stellarmls.com.
