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How to Use the New Compensation Field Feature and Best Practices

Enhancing Transparency with the New Compensation Field: A Step-by-Step Guide

Overview

In response to recent industry changes, we've introduced a new Compensation feature. This feature allows agents and brokers to provide customized compensation information for their own listings, enhancing transparency and flexibility in the market.

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Accessing the Compensation Field

The Compensation field is available on Featured Listings. Here's how to access it:

  1. Navigate to the Listings tab
  2. Click on Featured Listings
  3. Select the specific listing you’d want to add compensation information for
  4. Add info and click save 

You can add compensation information when:
  • Editing an existing featured listing
  • Importing a new listing

When you perform either of these actions, you'll see the compensation field.

Field Characteristics
  • This is an open text field
  • You have the flexibility to enter any information you deem appropriate
  • You need to update this field individually for each listing where you want to provide commission information

Visibility on Listing Detail Page
  • If you don't enter any information in the field, it will not appear on the Listing Detail Page
  • If you do provide information, it will be displayed on the Listing Detail Page, visible to leads

Best Practices
  1. Stay Compliant: Always consult your local MLS board for the most up-to-date rules and regulations regarding commission information disclosure.
  2. Regular Updates: Review and update your featured listings regularly to ensure the commission information remains current.
  3. Clear Communication: Use clear, concise language in the Compensation field (e.g., "Compensation: 2.5% buyer's agent commission") to avoid any potential misunderstandings.

Video

Buyer Agreement Workflow


Important Notes
  • The feature is enabled at the MLS Region level and follows each board's specific rules.
  • We may adjust feature availability based on updates from MLS boards to ensure compliance.

Need Help?

If you have any questions about using the Compensation feature or need assistance, please don't hesitate to contact our support team.