Has your Commission pay out been different than the MLS stated???

This has not happened to me, nor have I or my Broker ever changed the MLS commission payout as far as I know.  But..it must be happening to quite a few agents because one of our local Real Estate attorneys here in the Palm Springs Valley, sent this to us.. (Courtesy of Paul D. Bojic, Rancho Mirage, CA.)

Real Estate Commissions!  Have you ever made an offer and were then told that the real estate commission offered in the Multiple Listing Service had been changed?  The MLS printout stated three percent (3%) and now you are being told that the real estate commission that you are going to receive is less than three percent (3%).

Section 7.16 of the Multiple Listing Services Rules provides that the listing broker may, from time to time, adjust the published compensation offered to all MLS Broker Participants with respect to any listing by changing the compensation offered on the MLS or providing written notice to the MLS of the change.  Any change in compensation will be effective after the change is published in the MLS,either through electronic transmission or printed form, whichever occurs first.  The listing broker may revoke or modify the offer of compensation in advance as to any individual Broker Participant in accordance with general contract principles but in no event shall the listing broker revoke or modify the offer of compensation without the cooperating broker’s consent later than the time the cooperating broker:

(a) physically delivers or transmits by fax or e-mail to the listing broker a signed offer from a prospective buyer to purchase the property for which the compensation has been offered through the MLS, or

(b) notifies the listing broker in person or by telephone, fax or e-mail that the cooperating broker is in possession of a signed offer from a prospective buyer to purchase the property for which the compensation has been offered through the MLS and is awaiting instructions from the listing broker as to the manner of presentation or delivery of that offer.

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