How to Communicate Seller Concessions in the MLS

Communicating seller concessions within the MLS is allowed and remains a valuable marketing tool following the NAR settlement changes that will be implemented on August 16th.  Here are the directives to follow to maximize transparency and correctly communicate seller concessions within the MLS:

• Concessions vs. Compensation: Concessions are not a replacement for communicating offers of compensation or commission. Concessions cannot be included in the MLS if they are limited to or conditioned on payment to a cooperating/buyer broker. Concessions are a separate line item under the Marketing section of the listing contract. Anything identified under the Commission or Compensation to Others sections is not a concession, and may not be referenced in the MLS.
• MLS Remarks Fields: Concessions can be offered in the public or private MLS remarks fields. We recommend including any concessions within the public MLS remarks to maximize visibility and transparency.
• Provide Clarity & Conciseness: Specify what the concession is for (i.e. roof repair, carpet allowance, buyer closing costs, etc.).
• Use Dollar Amounts: When entering a concession amount, it must be a dollar amount. Percentages are not allowed in the MLS.

As SCWMLS is responsible for ensuring compliance with the NAR settlement, we reserve the right to add further direction on concessions, including “zero-tolerance” policy adjustments for misuse or creative interpretations. Anyone, including individual agents, can be sued if the settlement requirements are not followed. Remember: We are all in this together! 😊

Visit the NAR Settlement News & Updates page for Q&As on concessions and more.