Cooperative Compensation Fields
Heartland MLS supports the most efficient marketplace by making property information widely and transparently available, and by facilitating blanket offers of cooperative compensation available to all buyer brokers on an impartial basis.
On October 1, 2023, Heartland MLS updated our Listing Entry system to allow users to enter any amount in a listing’s cooperative compensation fields. Prior to this update, the cooperative compensation fields required entry of at least one cent. The fields now allow any amount, from zero and up. We made this small change to underscore the complete flexibility of subscribers to engage in transparent negotiations with their clients.
What Does This Change Mean for You?
Heartland MLS confirms subscribers’ flexibility and the transparency and clarity of the cooperative compensation being offered through the MLS.
Heartland MLS has always offered flexibility and has never specified a cooperative compensation amount. Sellers could agree to have their broker enter as little as one cent in the compensation fields, which was as close to zero as one could get. With this update, a listing agent continues to be able to enter the cooperative compensation amount agreed upon with their seller client, from zero and up, and continues to negotiate compensation at their client’s direction.
What’s Not Changing?
It’s important to note that this update does not affect the efficient, impartial system of offers of cooperative compensation that Heartland MLS supports, including:
Heartland MLS subscribers continue to be able to make impartial, blanket offers of cooperative compensation to every buyer’s broker. This has not gone away.
- The contracts and forms continue to work the same way.
- Offers of cooperative compensation remain negotiable.
- Offers of cooperative compensation remain at the discretion of the seller.