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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 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 Upcoming Changes

Other Resources

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

NAR Resource Center

ShowingTime Resources

Latest News:

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

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:

  1. 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.
  2. If you are a REALTOR MLS participant, you will need a written agreement when representing a buyer.

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  

For more information from NAR on the proposed settlement:

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.”

New CiP Fields No Logo

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