Knowledgebase
Incentives yes or no?
Posted by Gary Bild on 04 June 2015 09:08 AM

An agent called in to ask if they could enter buyer’s incentives in the confidential remarks and include what they are.  You may reference an incentive and state, “Please contact listing agent for buyer’s incentive.” The reason incentives are not allowed is because the only thing that is contractually offered in the MLS is the commission. The rules for remarks have been updated and will be going out to the membership in the next couple of weeks. It will be more specific as to what is allowed in the remarks and confidential remarks.

 

12.5 Misuse of Remarks and Supplemental Remarks. Public remarks shall be limited to the physical characteristics and descriptive property and/or community information. Participants and

Subscribers may not use the public remarks in a listing input form sheet or listing submitted to the MLS or input directly into the MLS database for purposes of conveying information about

other offices, disparaging other real estate agents, the transaction or subject property. Public remarks may not include the listing office name, agent names, contact information, phone

numbers, email addresses, website addresses, owner’s names and phone numbers, title company names, mortgage company names, compensation or bonuses offered to cooperating brokers,

showing instructions including references to open house, lockbox, alarm, gate or other security codes, seller’s terms, buyer’s incentives, disclaimers, disclosures required outside of the MLS, or the occupancy of the property (e.g. vacant). By submitting remarks to the MLS, the Participant and/or Subscriber grants the MLS and the other Participants and Subscribers the right to reproduce and display the remarks in accordance to these rules. If a listing broker desires to use the remarks from a former or current listing made by another Participant or Subscriber (the

“Original Listing Broker”) the listing broker shall first obtain the written permission of the “Original Listing Broker” to do so.

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