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How to Use the Compensation Field Feature and Best Practices

Learn how to access and use the new Compensation field for your Featured Listings, along with best practices to ensure compliance and clarity.

Why This Feature Matters

  • The Compensation field gives agents and brokers flexibility in providing customized commission information for their listings. This transparency helps improve communication and ensures compliance with local MLS rules. By offering clear compensation details, listings can attract more leads, fostering trust and boosting engagement.

Step-by-Step Instructions

  • Accessing the Compensation Field:

    1. Navigate to the Listings tab and click on Featured Listings.
      Click Featured Listings on listings tab
    2. Select the specific listing for which you want to add compensation information.Add compensation information for a specific listing
    3. Add compensation details in the field and click Save.
      Add compensation information

  • Notes:

    • The Compensation field is available when editing an existing featured listing or importing a new listing.
    • This is an open text field; you can enter any compensation information you deem appropriate.
    • The field must be updated individually for each listing where you want to provide commission information.

  • Visibility on Listing Detail Page:

    1. If the field is left empty, the compensation information will not appear on the Listing Detail Page.
      Listing Detail Page blank if not entered
    2. If you add compensation information, it will be visible to leads on the Listing Detail Page.
      Listing Detail Page visible to leads

Best Practices

  • Stay Compliant: Always check with your local MLS board for the most up-to-date rules and regulations related to commission disclosures.
  • Regular Updates: Regularly review your featured listings to ensure commission information is accurate and up to date.
  • Clear Communication: Use clear and concise language in the Compensation field to avoid confusion (e.g., “Compensation: 2.5% buyer's agent compensation”).

Troubleshooting Common Issues

  • Problem: The compensation field is not visible on the Listing Detail Page.
    • Solution: Ensure the Compensation field is filled out. If left empty, the field will not display on the page.

FAQs

  • Q: Do I need to update the compensation field for every listing?
    • A: Yes, the compensation field must be updated individually for each listing where commission information is provided.
  • Q: Can I provide any compensation details I want in the field?
    • A: Yes, this is an open text field. However, be mindful of clarity and compliance with MLS rules.