As you may already be aware, on Tuesday, October 31st, 2023, a Kansas City, MO jury deliberated for 2.5 hours and returned a guilty verdict in the Sitzer/Burnett Commission Trial. While NAR’s current President, Tracy Kasper, is confident that NAR will ultimately prevail in their appeal of this ruling, it could be years before the case is settled and any industry changes are in place.
In the interim, we want to assure you that Williamsburg REALTORS® and the WMLS are committed to support you in these uncertain times. The WMLS Board of Directors has been proactive with the Buyer Agent Compensation Field and policy, thus our rules have required no change. While brokers are required to make an offer of cooperation and compensation, WMLS Participants and Subscribers are already permitted to enter any percentage or flat rate using any numeric value in the WMLS Data Input Forms. Please note: Williamsburg REALTORS® highly recommend that Brokers/Agents continue to express that these commissions are negotiable and determined between brokers and their clients.
As we move forward, Williamsburg REALTORS® advocates to maximize transparency and clarity through the use of buyer representation agreements. The contracts ensure a professional working relationship with defined parameters between agents and buyers. Williamsburg REALTORS® also recommends that you educate yourself to your fullest capacity on how to explain that local MLS broker marketplaces promote equity, transparency and market-driven pricing for consumers, while persistently communicating the incredible value that agents who are REALTORS® provide. Lastly, Williamsburg REALTORS® is here to assist you in any capacity and has provided more information in the links below, please take a moment to review.