A Concessions field has been added to Matrix listings. Details on proper usage are below.
WHAT TO KNOW:
A new field called “CONCESSIONS” will be added to Matrix Input Screens and Reports on July 9th. It is NOT a required field. Please Watch this 50 second video.
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There will be three choices for the seller’s willingness to offer concessions, such as assistance with buyers’ closing costs: Yes – Contact List Agent, No, or Negotiable.
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Keep in mind it is always negotiable and subject to the final purchase agreement; it does not indicate compensation or commission, which are prohibited in the MLS per NAR policy.
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Seller concessions are not limited to or conditioned upon the retention of or payment to a cooperating broker, buyer broker, or other buyer representative.
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WHAT TO DO:
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On the Matrix Input - Listing/Contract tab you will see the Concessions field when entering new listings.
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You have the OPTION to go back to any existing listings you have On Market and update the Concessions field.
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Please read the NAR information on requirements and concession limits (based on the type of buyer mortgage loan) - What Are Seller Concessions? (nar.realtor)
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WHO TO CONTACT:
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Email Help@MLSNow.com or call MLS Now Help Desk at 216-485-4100 x 1480.