Section 3-4 of the REALTOR® Code of Ethics defines a variable rate commission arrangement as follows: A listing in which one amount of commission is payable if the listing broker’s firm is the procuring cause of sale and a different amount of commission is payable if the sale results from the efforts of the seller or a cooperating broker.
Variable rate commissions are also known as dual rate commissions. The terms are used interchangeably.
When entering or modifying a listing in Matrix, there is now a separate field on the Contract tab for identifying if your listing is subject to a Dual or Variable Rate Commission:
The Dual/Variable Rate Commission field used to be one of the options within the Listing Contract Type field, but we have removed it and made it a separate Y/N field.
The Dual/Variable Rate Commission field is required when entering new listings.