WOW!  Our MLS has instituted this new rule too. LOL

Actually, it didn't really surprise me all that much.  With the number of short sales we might be seeing in the near future, you just know the issue of compensation being subject to bank/court approval is going to become an issue.  I'm sure it has already become an issue which is what prompted the need for the change.

Of course, the large percentage of agents and brokers who never check their emails or read the Important Info on the MLS front page will find themselves in violation without excuse.

Speaking about MLS, has anyone seen some of the anti NAR/MLS

e mails running around on the net?

1. Listing brokers may communicate to potential cooperating brokers that gross commissions established in listing contracts are subject to court approval or to lender approval.

Since when does A MLS now dictate to us how to do our job?

Georgia is the Poster Child for MLS ---> http://tinyurl.com/27dm3a

Realtor or Real Estate Agent are all welcome, it is a level playing field

You have a choice to work for Broker/Realtor with board dues, or a Non Realtor Broker with no board dues...

Even though I am a Realtor in Florida, I do not have to join a secondary board in GA...

And membership in Supra, and buy your own  electronic lock boxes.

Its so easy even a Caveman can join oops Caveperson can join.

The need for a buyer representative agreement spelling out the terms of buyer representation is more important than ever unless you plan to work (very hard) for next to nothing.

Hey Howard were have you been? and yes to the post above.

"A buyers representative agreement"

Steve, it is funny you bring that up today. A friend just told me he got a home owner to reduce the price of his home. Three days after the reduced price was posted in the MLS the seller told him his bank said they would do a "short sale" for that amount. He had no idea the guy owed that much on the house since he had been there forever and no real improvements had been made to the place. I guess that would have cost him $500 in your MLS. Life is funny!

Vance, busy selling real estate, my day job.