As the commercial real estate business grows and evolves, CBA remains dedicated to ensuring that our members benefit to the fullest extent from cooperating with the rules and regulations of our association.
In connection with revisions to the Washington State Agency Law that go into effect on January 1, 2024, CBA’s Board of Directors has voted to update a number of CBA’s Member Rules, including an update to RULE X. COMPENSATION.
To summarize for you, these rule changes:
- Clarify that CBA has no rule mandating offers of compensation
-
Change legacy terminology from "Commission" to "Compensation" and from “Selling Office” to “Buyer Brokerage Firm” and “Buyer Broker”
- Decouple buyer brokerage compensation from listing brokerage compensation, thus discontinuing the legacy compensation practices from the era and practice of sub-agency
- Permit CBA and CBA Members to publish buyer-broker compensation publicly
For a complete set of CBA’s Member Rules, click below.
|