Frequently Asked Questions

Legal Hotline FAQ

a blog of the most frequently asked questions to the MAR legal hotline.


Cindy Sellers
Cindy Sellers
Cindy Sellers's Blog

What is the definition of a variable rate commission to be used when filling out the MRIS (Bright) profile sheet for listing a property?

The definition of a variable rate commission according to the MRIS (Bright) Rules and Regulations is as follows:ARTICLE X – Compensation
 
Sec. 5 Dual or Variable Rate Commission Arrangements: The existence of a dual or variable rate commission arrangement (i.e., one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker without assistance and a different commission if the sale/lease results through the efforts of a cooperating broker; or one in which the seller/landlord agrees to pay a specified commission if the property is sold/leased by the listing broker either with or without the assistance of a cooperating broker and a different commission if the sale/lease results through the efforts of a seller/landlord) shall be disclosed by the listing broker by a symbol required by MRIS (Bright).  The listing broker shall, in response to inquiries from potential cooperating brokers, disclose the differential that would result in either a cooperative transaction, or alternatively, in a sale/lease that results through the efforts of the seller/landlord.  If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative may disclose such information to their client before the client makes an offer to purchase or lease.
 
The MRIS (Bright)compliance department can be reached at (301) 838-7140, for information on how to fill out the profile sheet.
 


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