I'm in the Outer Banks of North Carolina this week, a beautiful part of the country I've never explored before.
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A BRIGHT CHIP FOR COMPRESSION?
By: Drew Meyers
Bright MLS is deviating from a NAR policy that "requires listing brokers offer commissions to buyer brokers in order to submit listings to Realtor-affiliated MLSs," according to Inman News. As of August 9th, its more than 100,000 listing brokers and agents across six states will be able "to enter any amount in a listing’s cooperative compensation fields, including zero."
This is the latest development in the downward push on commissions. I'm still a believer that an Offers product is the end game and that innovators would be wise to push on this while the enemy is attempting to breach the establishment's walls. That said, is the ability to post to the MLS with zero commission enough of a policy change a strong enough response to the age-old question: "why will this time be any different?" My gut is no. PadPath will surely beg to differ, but that doesn't mean they will avoid Pocket's fate (founder has taken a job with another company, in a different vertical).