REcolorado and the NAR Settlement: Compensation Removed from MLS
REcolorado opted-in to the NAR Settlement earlier this year to protect our MLS from liability in the lawsuit. This will not change, even if REcolorado becomes a privately-owned MLS.
Learn about all system, data, and policy changes related to removal of compensation from REcolorado’s MLS.
- MLS Policy aligns with terms of the NAR settlement. Learn what has been updated >>
- REcolorado’s EULA includes new language regarding compensation.
- Reminders in the MLS indicate that compensation is not permitted.
- The MLS does not include compensation in any fields or remarks.
- A new mandatory field is in Matrix on a Confirmation tab on Listing Input. You must check the box to confirm you will not enter any compensation information in the REcolorado MLS system. If you do not, the system will prevent you from advancing with the listing entry process.
- In-system validation runs behind the scenes to check for compensation information. If prohibited language is detected, you will receive an error message and must remove the compensation information before you can submit your listing.
- You can display compensation on your own listings on your own website, but your individual website cannot display compensation from other brokerages and their listings. Learn more about compensation on IDX websites >>
Questions and Answers
Understanding REcolorado’s Participation Agreement
REcolorado has long maintained standard agreements with our Participants, Responsible Brokers for a licensed brokerage firm and appraisers licensed or certified by the Colorado Division…
What You Need to Know About Written Touring Agreements
The NAR settlement stipulates that a written agreement needs to be in place between an MLS subscriber and a buyer before they tour any property,…
REcolorado MLS Policy Updates
REcolorado’s Board of Directors approved changes to the MLS Policy to align with terms of the NAR Settlement. Here’s what you need to know. Compensation…