Legal Guidance
We have engaged multiple legal teams at national level to ensure
full compliance with the NAR settlement terms.
Under the new NAR rules, realtors are prohibited from disclosing commissions on the MLS.
As a result, the co-broke commission must be disclosed and found either through
cumbersome, inconvenient, and scattered methods or by using our streamlined service.
The good news is that on Cobrokenow.com it only takes seconds
to quickly input the information and share it with your fellow realtors.
About Cobrokenow.com
®
Cobrokenow.com is the top nationwide directory for agents
to disclose and search for co-broke commissions on listings.
Cobrokenow.com aims to support the real estate industry by offering a powerful realtor-to-realtor networking platform for disclosing and viewing commission structures for cooperative transactions.
This transparency will streamline negotiations and foster greater cooperation among agents.
Made by realtors
for realtors
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Is this compliant with the new NAR rules?Yes, at Cobrokenow.com we have been working directly with multiple legal teams at a national level and we are fully compliant according to the NAR settlement terms. Here are some essential key points highlighting our compliance: - Not connected to the MLS in any way. - Not connected to any Real Estate websites. - Can't search by commission. Cobrokenow.com is compliant and you can hear it straight from the Real Estate Attorney.
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Will my broker allow me to do this?Check with your brokerage. However, the broker has every reason to support you to join. Invite them to visit Cobrokenow.com and check our FAQ.
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Is this a binding offer of compensation?Yes, when an agent inputs a listing they are confirming that this is a binding offer of compensation. Please consult your broker for any additional forms they may require.
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I am a listing agent do I really need to input my listings in another place?With the new NAR rules you cannot disclose the commission on the MLS, so unfortunately you have to disclose the co-broke either verbally every time you receive an inquiry OR you can use our service. The good news is it takes 2 minutes to quickly input the information to upload to the directory.
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What if NAR changes the rules?We are aware that all legislation is fluid and we are committed to working within the legal guidelines if and when they change. We also made access to the directory very inexpensive at $29.99 (limited time offer). Which covers every user for a year of access both as a listing or buyers agent.
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I am a buyer agent and don’t list properties, do I need access to this?Absolutely, even if you are not listing properties access to this private directory will allow you to search for properties by address and quickly find out the co-broke commission being offered.
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Are there ever any other fees?No, When you pay the $29.99 account fee you will have access for a full year to do unlimited searches and upload unlimited listings..... No other fees ever. Should you decide to renew your service you will pay another annual fee upon renewal.
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Is the subscription valid for a calendar year or for a full 12 months from the date of purchase?The subscription is valid for a full 12 months from the date of purchase. It can be renewed at the end of your subscription period, and you will receive an email asking if you'd like to renew at that time.
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I heard that brokerages can list the commission on their website. Why can’t I just look on their websites or just call or text the listing agents?It is true that Brokerages can list the commissions but ONLY on their office listings and only if they scrape those listings from an IDX feed and not directly from the MLS. However, the individual listings CANNOT have a direct link to that properties listing page with the commission listed, it has to be a MINIMUM of 2 clicks away from the MLS. Also as an agent, time is so important. When you are making dozens of appointments, do you want to be scouring through potentially multiple broker sites trying to navigate to the correct property and find the co-broker commission? Or would you rather go into a one stop directory that you simply type the address and it takes you directly to the information you need? Saving you valuable time and effort while providing ease of use and convenience. Regarding calling/texting an agent: this can be very time consuming and listing agents aren’t always available to respond right away, leaving you waiting sometimes hours for the information you can get in seconds from our directory. It also saves listing agents time responding to inquiries from multiple agents when all they need to do is input the info into their portal.
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What if I don't have any listings?You will still want to use the search when you are working with buyers to quickly find all the listings in your area and find the co-broke now!
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Will the public be able to access this directory?Yes, they would need to register and pay the annual fee. We are not exclusive to Realtors, anyone who wants an account may sign up for this service. For example, a for sale by owner seller may opt to create an account and list their home in the directory.
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How does Cobrokenow.com align with NAR's goal of protecting consumers?Cobrokenow.com not only streamlines the process for busy real estate agents, but it also provides significant benefits to both sellers and buyers. Sellers typically want their listing agents to share the co-broke commission details with as many of their colleagues as possible. This incentivizes other agents to bring potential buyers, ultimately helping to sell the property for the best possible price in the shortest time frame. It’s important to note that commissions are negotiable, but maximizing exposure through co-broke offers, benefits sellers significantly. For buyers, recent changes require them to enter into a legal agreement with a buyer's agent, which may place the responsibility of paying the agent's commission on the buyer, if the seller is not offering a co-broke. Many buyers plan their budget around down payments and closing costs, so knowing whether the seller is offering a co-broke commission before viewing a property is essential to making informed financial decisions.
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Are there any search features so I can exclude properties that pay less than 3%?No, our service can only search by property address so when you find a listing in your MLS that your customer wants to see, you simply type the property address into our search and you will find the co-broke for that listing. We also strongly encourage that any agent abides by the realtor code of ethics and the level of commission received should never be a deciding factor whether you show or don’t show a property to a client.
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Does this service mean I do not need to enter into a buyer-broker agreement?No, per NAR and local board guidelines, a Realtor must enter into a buyer broker agreement with any potential client prior to viewing any properties. Consult your local board, brokers, and office managers to determine the correct legal forms you need to use to execute this agreement.
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Should I ask my seller if they are ok with me listing the co-broke commission being offered on their home?Yes, you should get written consent from your seller that they want you to disclose in a legal and ethical way, the amount of commission being offered to potential buyers agents.
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Is this an MLS?No, we are not an MLS nor do we procure any data directly or indirectly from any MLS.
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Is the directory live now?Yes, it is live, and agents nationwide are signing up everyday.
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Will every property listed on every MLS be listed in this directory?We will not be connected to any IDX feeds therefore we require an agent to setup an account and manually input their listings and co-broker offering. The good news is because this isn’t an MLS, we require minimal information for the directory and it can be uploaded in 2 minutes. Simply log into your portal, click add listing, and follow the prompts to type or copy/paste address, price, co-broke commission.... click save and you are done. If you know any realtors who could benefit from simplifying the process of listing & finding co-broke commissions, feel free to mention CobrokeNow.com The more agents who join, the more powerful our platform becomes for everyone involved.