Notice Regarding MLS Compensation Changes
Please be advised that the Multiple Listing Services (MLS) in Wisconsin will be removing offers of compensation from their platforms. The following compensation terms do not apply to any listings posted by Powers Realty Group on any Wisconsin MLS that currently display an offer of compensation. However, these terms will take effect upon the removal of MLS offerings and will govern all Powers Realty Group listings that display an offer of compensation on powersrealty.com, effective no later than August 17, 2024.
Offers of Compensation
All offers of compensation displayed on powersrealty.com originate from the seller of each property and not from Powers Realty Group. These offers are exclusively available to members of the various Wisconsin MLSs. The compensation is expressed as a percentage of the purchase price. The applicable compensation amount is the one listed under "Compensation" on powersrealty.com on the date any offer resulting in a successful closing is submitted.
The compensation terms outlined on powersrealty.com govern any and all offers of compensation associated with Powers Realty Group listings on the site. These terms cannot be altered by any verbal or written communication from a Powers Realty Group agent or employee, nor by any postings on social media or other platforms. The offers of compensation as posted on powersrealty.com are definitive, and these terms apply. Any changes or modifications to these terms can only be made on powersrealty.com.
Subagent and Buyer Agent Firms
For each listing with a posted compensation amount, the following applies:
- Subagent Firms: The posted offer of compensation on powersrealty.com applies solely to Subagents (firms or agents working with a customer buyer). Compensation is payable upon successful closing, following the submission of an accepted offer by the Subagent firm.
- Buyer Agent Firms: The amount listed under "Compensation" is the sum that can be requested as payment from the seller, negotiated as a term in the buyer’s offer. It is payable by the seller if such a provision is included in the buyer’s offer and accepted by the seller.
Arbitration and Dispute Resolution
By accepting or claiming payment under these compensation terms, any Subagent or Buyer Agent firm agrees to submit to binding arbitration in the event of a dispute arising from any offer of compensation or related payment. Arbitration will be conducted by the Realtor Association in the jurisdiction where the listing was initially posted, following the association's arbitration procedures. This agreement to arbitration is a condition of accepting or claiming any offer of compensation.
Hold Harmless Agreement
In accepting or claiming any payment under these compensation terms, the receiving or claiming firm agrees to hold the Seller and Powers Realty Group harmless and indemnified in the event of any dispute arising from any offer of compensation. The firm also agrees to indemnify the Seller and Powers Realty Group for any damages, losses, liabilities, or costs incurred due to such a dispute.
Concessions or Credits
Sellers may offer concessions or credits if posted or negotiated directly with the buyer. Any concessions or credits listed on powersrealty.com or any MLS are not guaranteed and remain negotiable terms in any specific offer unless explicitly stated otherwise in writing. Furthermore, according to various settlements, concessions may not be contingent upon or limited to payments made to cooperating brokers, buyer brokers, or other buyer representatives. Any language or postings suggesting otherwise are unauthorized and should be disregarded.
Contact Us
If you have questions regarding our Compensation Terms you may contact us at sprgadmin@powersrealty.com or at 414-963-0000.
