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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.
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.
August 15, 2024
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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.
Real Estate Professional, Budge Huskey, does a solid job at defining the truth behind common media misconceptions in this timely article.
No, NAR has been discussing settlement options since before the trial began.
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.
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.
As of now, NAR has announced these pending rules changes:
The process will take months, but we anticipate final approval by the end of the year.
NAR will not be changing the membership dues for 2024 or 2025.
No, the settlement does not restrict advertising off of the MLS
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: