Commission Statement

Closing Commission Statements

The Contract & Forms committee would like to point out there is some confusion about commission statements…. If you are accepting the buyer’s agent or facilitator compensation that is offered in the MLS, please be aware that your BROKER should send your co-broke bill (if generating one) ONLY to the listing BROKER and NOT to the closing attorney. It is the listing brokerage’s responsibility to issue the standard closing statement for their office and to communicate with the attorney on how payments are to be made. Two commission statements are confusing the CD process –  listing agents are rightfully invoicing for the full brokerage commission due as outlined in the Exclusive Right to Sell, and arranging to pay cooperating brokerage commission outside of the transaction to satisfy their agreement to pay the procuring cause of sale made in the MLS.