On May 29, CRMLS is launching new Concessions in Price (CiP) fields that users will have the option to fill out during the listing input process. These fields allow Listing Agents to market their clients’ willingness to consider concessions.
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’s Agents
will be able to better serve their clients with up-front information about which listings have sellers who will consider concessions to assist in transaction fees. - Homebuyers
will have more transparency about which listings have sellers who are willing to consider concessions to assist with the Homebuyers’ financial needs.
The new fields will be titled:
- Concessions in Price: a text box for numerical input only. This amount should include any and all potential concessions in a single total amount
- Concessions in Price Type: classify the number in the “Concessions in Price” field as either a dollar amount ($) or percentage (%)
- Seller Consider Concessions? Y/N (MATRIX AND FLEX)
- If “Y” a text box will appear with the following auto-populated copy: A Seller may consider a buyer concession if made in an offer.
- Seller Consider Concessions? Y/N (PARAGON)
- If “Y” the following will appear when hovering your cursor over the help (?) icon: A Seller may consider a buyer concession if made in an offer.
Note: A user does not need to specify a $ or % amount to select Y in the “Seller Consider Concessions?” field
The new fields in your system will appear here:
Flexmls
Concession fields are in the Main Fields tab.
Matrix
The Concession fields are in the Basics tab.
Paragon
The Concession fields are in the Listing Facts section.
Additional CiP Resources
FAQs
The Facts on Concessions Infographic
Concessions in Price Infographic
