Cooperation and Compensation in Canopy MLS
Canopy MLS supports the most efficient marketplace by making property information widely and transparently available, and by facilitating offers of compensation to cooperating MLS broker participants and subscribers on an impartial basis.
On September 28, 2023, Canopy MLS updated its MLS system, Matrix, to allow users to enter any amount in a listing’s cooperative compensation fields. Prior to this update, the cooperative compensation fields required entry of at least one cent. The fields now allow any amount, from zero and up. We made this small change to underscore the complete flexibility of subscribers to engage in transparent negotiations with their clients.
What is cooperative compensation?
A Listing Broker and Seller enter into a contract whereby the Seller agrees to compensate the Listing Broker for services provided in the sale of the Seller's home. The Listing Broker makes an offer, through the MLS system, or directly, to cooperating brokers agreeing to compensate the cooperating broker for procuring the eventual buyer.
What Does This Change Mean for You?
Canopy MLS has always offered the ability for its participants and subscribers to enter any cooperative compensation offered by their seller into the compensation fields in Matrix. With this update, a listing agent continues to be able to enter the cooperative compensation amount agreed upon with their seller client, but now allows for any amount ranging from zero and up. Listing agents continue to have the opportunity to negotiate compensation with cooperating brokers, at their client’s direction, just as cooperating brokers have the opportunity to negotiate compensation with their own buyer clients.
What’s Not Changing?
It’s important to note that this update does not change or affect the efficient, impartial system of offering cooperative compensation that Canopy MLS supports.
- Canopy MLS subscribers may continue to make impartial offers of cooperative compensation based on a percentage of the gross selling price or a definite dollar amount. That has not changed.
- NC/SC contracts and forms continue to work the same way they always have.
- Offers of cooperative compensation remain negotiable.
- Offers of cooperative compensation remain at the discretion of the seller.