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 29th 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
