As a result of the NAR Settlement, Bay East will implement the following changes to our Paragon MLS Platform beginning Monday, August 12:
♦ All compensation, across all property types and statuses, including historical data, will be removed
♦ The current post-sale concessions field will change to a Yes/No option.
Note: Historical concessions data for off-market listings will still be visible.
Compensation and Concsessions Q&A
Compensation Q&A
Q: When will the Compensation fields be removed from the MLS?
A: The fields will be removed beginning August 12, 2024.
Q: Will the compensation information for Active and Pending Status be removed?
A: Yes.
Q: Can I publish the compensation in confidential remarks?
A: No, you cannot add compensation information anywhere within the MLS.
Q: Can I include compensation information within the disclosure documents within the MLS?
A: No, you cannot add compensation information anywhere within the MLS including within disclosure information.
Q: Will I see historical Compensation data?
A: No, all compensation data will be hidden from view.
Q: What will happen if I add compensation information in the MLS?
A: Bay East staff will remove the information and a violation notice and possibly a fine will be sent to the listing agent.
Q: Can the MLS have a Yes/No Compensation field?
A: No. The new MLS policies prohibit presenting any information about compensation on an MLS
Q: Can a listing broker communicate offers of compensation on a broker website which has an IDX or VOW feed?
A: Yes, MLS Participants may augment MLS data or data feeds with offers of compensation to buyer brokers or other buyer representatives only for listings from their own brokerage.
Concession Q&A
Q: Will a new “Seller Concession” field be added to the MLS?
A: No.
Q: When do I complete the concession field?
A: The concession field is completed when marking a listing sold.
Q: Will the existing concession field be modified?
A: Yes, currently the concession field may contain any type of information. Beginning August 12, that field will be changed to Yes/No only.
Q: Will I see historical Concession data?
A: Yes, historical concession data will be viewable.
Q: Can I publish concession information in the MLS?
A: Yes, concession information can be added to the MLS.