Spokane REALTORS® (“SR”) will update its MLS listing entry on October 12, 2023, to allow SR members to enter any amount in a listing’s cooperative compensation field. Prior to this update, the cooperative compensation fields required entry of at least one cent. Starting October 12, 2023, the field will allow any amount, from zero and up.
It is important to note that SR has never specified a cooperative compensation amount. Sellers could agree to have their broker enter as little as one cent in the compensation fields. With this update, a listing agent will continue to be able to enter the cooperative compensation amount agreed upon with their seller client, from zero and up, and continue to negotiate compensation at their client’s direction.

This update does not affect the efficient, impartial system of offers of cooperative compensation that SR supports, including:

  • Participants will continue to be able to make impartial, blanket offers of cooperative compensation to every buyer’s broker.
  • Offers of cooperative compensation remain negotiable.
  • Offers of cooperative compensation remain at the discretion of the seller.

The MLS Rules have been updated to underscore the complete flexibility of SR MLS Participants to engage in transparent negotiations with their clients. The updated Exclusive Right to Sell Listing Agreement and Buyer Representation Agreement will be updated by January 1, 2024. The updated SR agency agreements include new language to address exiting options for payment of broker compensation and are forthcoming.
SR anticipates further revisions to the agency forms and MLS Rules in connection with revisions to RCW Chapter 18.86, which will become effective on January 1, 2024, and the corresponding changes to the state-wide REALTOR® forms.

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