September 03, 2024

REALTORS®: Say This, not That, to Avoid a Violation Slap!

27 minutes

Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206.

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5 Key Points on Staying Compliant with the New MLS Rules.

Don't get slapped with a violation and a fee! Words matter.

You're operating in a heightened regulatory environment where MLS's are watching for violations and agents to make an example of.

Note: We are not attorneys or your broker! Check with your broker and state associations and MLSs for specific, attorney-vetted compliance issues.

Our podcast is designed to educate you, motivate you and get you into action!

1. Use the Term "Fee" Instead of "Compensation" or "Commission":

Agents should shift their language to use the word "fee" rather than "commission" or "compensation" when discussing payments. This change helps avoid the negative connotations associated with these terms due to recent litigation. Referring to it as a "fee" opens up various possibilities for sellers to assist buyers, such as offering credit for repairs or helping with interest-rate buy-downs. Stop saying compensation and commission.

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