Compensation fields were removed from Matrix and Paragon New CRMLS Rules & Policy changes went into effect The current required Concessions field at Close includes a category list Warning messages were added to listing input to assist users with awareness of compensation no longer being allowed Fines will be enforced for all listings trying to indicate forms of compensation NOTE – The dollar values entered into the 5 concessions fields will be automatically added up in the Concessions Amount field that appears on displays and reports.

CRMLS Resources:
NAR Post Settlement

CRMLS is committed to helping our user navigate this evolving landscape

It remains our highest priority to ensure CRMLS users adapt to thrive in our rapidly evolving environment. With a forward-thinking approach, CRMLS has been preparing for the upcoming changes resulting from the NAR settlement for quite some time. Rest assured, we’re here to make certain you are fully aware of what’s to come.

Important Past Dates:

On August 8th:

Compensation fields were removed from Flexmls

On August 13th:

Compensation fields were removed from Matrix and Paragon
New CRMLS Rules & Policy changes went into effect
The current required Concessions field at Close includes a category list
Warning messages were added to listing input to assist users with awareness of compensation no longer being allowed
Fines will be enforced for all listings trying to indicate forms of compensation

NOTE – The dollar values entered into the 5 concessions fields will be automatically added up in the Concessions Amount field that appears on displays and reports.

CRMLS Resources

NAR Settlement FAQs (by CRMLS)

Concessions in Price (CiP) FAQs

CRMLS Rules and Policy Changes (Effective 8/13/24)

Overview of New Fines

(Effective 8/13/24)

CRMLS Citation Policy

(Effective 8/13/24)

Your Most Common Settlement Questions

Updated Concessions at Closing Fields

(Effective 8/13/24)

Understanding the
New/Revised C.A.R. Forms

Do’s and Don’ts of Public Remarks

Your New World August 13th and Beyond

Video Guides on the Past Changes

Benefits of CRMLS Compliance

Other Resources

C.A.R. Resource Center
(note: login required)

NAR Resource Center

ShowingTime Resources

Latest News:

IMPORTANT: How Your MLS Changed This Week

August 15, 2024

Changes to Your Listings as of August 13

August 10, 2024

Violations to Be Aware of Starting August 13

August 6, 2024

Did you attend Thrive?

CRMLS hosted Thrive Broker Summit on September 16 & 17 to assist brokerages to thrive in transition and leverage adaptive strategies to enhance profitability.

Stay tuned for information on Thrive Broker Summit 2025.

Updates:

Concessions vs. Compensation – Differences Explained

New Benchmarks & Important Dates

Common Misconceptions

Real Estate Professional, Budge Huskey, does a solid job at defining the truth behind common media misconceptions in this timely article.

3/21/24

Kevin Sears, NAR President

Discussing Settlement Considerations and Ongoing Advocacy Efforts

3/22/24

Settlement Briefing

Learn the latest from this settlement briefing from NAR President Kevin Sears and Chief Legal Officer Katie Johnson

Summary of Q/A from Kevin Sear's Updates

Was this settlement a surprise development?

No, NAR has been discussing settlement options since before the trial began.

Why didn't NAR appeal?

To appeal would have required NAR to post a $5.4 billion bond, which they did not have the resources to provide, and could lead them to Chapter 11 bankruptcy. It also would’ve left all MLSs and brokerages named in copycat lawsuits to fend for themselves.

What is the financial component of the settlement?

NAR will pay $418 million over the next four years and is working on how to remit that payment without interrupting the tools, resources, and advocacy its members depend on.

What rules changes are coming from NAR?

As of now, NAR has announced these pending rules changes:

There will be no more cooperating compensation on the MLS. Agents will still be able to offer compensation to a buyer broker, but it just cannot be conveyed on the MLS.
If you are a REALTOR MLS participant, you will need a written agreement when representing a buyer.

How quickly will the settlement be reviewed/approved by the court?

The process will take months, but we anticipate final approval by the end of the year.

Will NAR raise dues to fund the settlement?

NAR will not be changing the membership dues for 2024 or 2025.

Outside of the MLS, does the agreement affect how agents can advertise?

No, the settlement does not restrict advertising off of the MLS

For more information from NAR on the proposed settlement:

Concessions in Price (CiP) fields have arrived

It is our top priority to ensure we begin planning to adapt to all necessary changes that would stem from the final settlement. As part of this process, CRMLS executives and the Board of Directors met on March 25 to discuss how to accommodate final settlement requirements.

As of May 29^th CRMLS added three new “Concessions in Price” (CiP) fields at the listing level in Matrix, Paragon and Flexmls.

These are optional fields.

Field names and details

Concessions in Price
A text box for numerical input only. This amount should include any and all potential concessions in a single total amount.

Concession in Price Type
Classify the number above as either $ or %.

Seller Consider Concessions?
Either Yes or No. If Yes, then the listing will include the phrase “A Seller may consider a Buyer concession if made in an offer.”

The new fields benefit all parties:

Listing agents and sellers
Will gain a dedicated space to advertise/market their willingness to consider concessions at the listing input level
Buyer agents
Will be able to better serve their clients with up-front information on which listings are considering concessions to assist with transaction fees
Buyers
Enhanced transparency on which listings are willing to consider concessions to assist with their financial needs

CRMLS Resources: NAR Post Settlement

Important Past Dates:

CRMLS Resources

NAR Settlement FAQs (by CRMLS)

Concessions in Price (CiP) FAQs

CRMLS Rules and Policy Changes (Effective 8/13/24)

Overview of New Fines

(Effective 8/13/24)

CRMLS Citation Policy

(Effective 8/13/24)

Your Most Common Settlement Questions

Updated Concessions at Closing Fields

(Effective 8/13/24)

Understanding theNew/Revised C.A.R. Forms

Do’s and Don’ts of Public Remarks

Your New World August 13th and Beyond

Video Guides on the Past Changes

Benefits of CRMLS Compliance

Other Resources

C.A.R. Resource Center(note: login required)

NAR Resource Center

ShowingTime Resources

Latest News:

Did you attend Thrive?

Updates:

Concessions vs. Compensation – Differences Explained

New Benchmarks & Important Dates

Common Misconceptions

3/21/24

Kevin Sears, NAR President

Discussing Settlement Considerations and Ongoing Advocacy Efforts

3/22/24

Settlement Briefing

Learn the latest from this settlement briefing from NAR President Kevin Sears and Chief Legal Officer Katie Johnson

Summary of Q/A from Kevin Sear's Updates

For more information from NAR on the proposed settlement:

CRMLS Resources:
NAR Post Settlement

Understanding the
New/Revised C.A.R. Forms

C.A.R. Resource Center
(note: login required)