Can I Offer Zero Percent Commission in the MLS?

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In this tutorial video, we'll explain why sellers can't offer zero percent (0%) commission to buyers' brokers in the MLS (REBNY RLS in NYC, Southeast Florida / Miami MLS in Southeast Florida etc).

Essentially, the point of listing your property in the MLS is so you as the seller can get buyers' agents to show your property to their clients. And the reason they would do so is because every listing in the MLS contractually offers commission to cooperating brokers (i.e. buyer's brokers).

When a brokerage firm joins a MLS, they have to sign a MLS co-brokerage agreement which states that they automatically have to co-broke (i.e. split commission) with any other member firm that brings a buyer, per MLS rules.

The amount of the commission split can vary based on the MLS, but all MLS associations will require that sellers offer at least some commission to buyer's agents. Others like the REBNY RLS will require splitting of at least half of the total commission to buyer's brokers.

As a result, buyer's agents won't hesitate to show a listing in the MLS to their clients, as they won't have to worry about being cut out of the deal.

We'll also discuss in this video why it doesn't make sense for sellers to offer less than a market rate (for their area) in co-broke, as the effect is almost as deleterious as not offering anything at all.

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Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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