The reason for the recent change stems from the escalating commission disputes between agents when the commission reflected on the former “Broker Information and Ratification of Fee” page differed from that offered in MLS.  If both agents signed the page, there was an argument that the MLS offer of commission had been changed by written agreement between the Brokers.  This was an unintended consequence of the use of that page.  If the Brokers to a transaction are in agreement to adjust the commission from that offered in MLS, a separate document must be used.

One more piece of information is now required by the new page. The name of the Licensed Supervisor of the Associate and their telephone number is required.  The Licensed Supervisor is the person who manages over the respective Listing Associate or Associate under the contract. The Licensed Supervisor is not the Designated Broker, unless, the Designated Broker also acts as the day to day manager of the associate.  Remember, this line is simply a “fill in the blank”. The signature of the Licensed Supervisor is not required.

In the past, lenders have required the agents to sign the Broker Information page as a condition to the loan. In order to sale their loans, lenders must have a loan package that shows the loan was underwritten to specific standards and  closed according to a fully executed, completed agreement between the parties. I believe that the lenders viewed this page as having a signature line not yet completed; and therefore, the agents signatures were required.  It is my opinion that when the form changes to clearly reflect that this page is for information purposes only, the lenders will not require signatures.