I saw a list in MLS that offered compensation for cooperating mlS brokers. The listing broker wrote in the agent`s instructions that the compensation offered would be reduced if the contract was concluded after a given date. Is this contrary to MLS rules? I listed a leased property in MLS and offered compensation to other MLS participants. Another broker, who is an mlS participant, saw my list and submitted your client`s credit application to me. After the landlord accepted his client`s request and executed the lease, the broker told me that I had to sign the broker-to-broker contract for residential leases. Do I have to sign the agreement? No no. An offer of indemnification in the MLS becomes enforceable if the cooperating broker is the cause of the purchase. Another agreement is not necessary. Some brokers consider the broker-to-broker agreement for residential leases (TAR 2002) to be advantageous because it sets out a payment schedule and covers compensation for lease renewals and sales. Nevertheless, an agreement between brokers is not required to enforce the offer of compensation set out in the MLS. The TAR 2002 agreement between brokers for residential leases is to be part of the TAR 2001, where two brokers are involved and agree on a distribution of a royalty or commission.
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