MLS Update: Improved Reporting of Seller Concessions

Based on member feedback, we’ve made updates to improve the clarity and ease of reporting seller concessions, both during listing entry and after closing.

Offering Seller Concessions (Active Listings)

During listing entry, there are two related fields used to offer seller concessions:

• Seller Concessions – Select Yes or No
• Seller Concessions Amount – If Yes is selected, enter the dollar amount of the concessions. If No is selected, this field will not populate.

To avoid confusion and make the purpose of each field clearer:

• The amount field has been renamed from Seller Concessions to Seller Concessions Amount
• A new hint has been added to clearly indicate that a $ amount is required.

These fields work together to offer seller concessions to potential buyers during the active listing period and are separate from the Seller Concessions fields used when reporting post-closing details.

Reporting Seller Concessions Post-Closing

When reporting a listing as Sold, two additional fields become available to capture seller concessions paid:

• Seller Concessions Description
  Select a predefined description, like Home Warranty or Closing costs. Or you may choose Other to add additional remarks or select None if no concessions were paid.
• Total Amount Paid by Seller
  Enter the total dollar amount the seller paid toward concessions after closing. A new $ prompt now appears to reinforce that a monetary value is required.

To prevent confusion after closing, the Seller Concessions field used during the active listing period is now greyed out once you go to update the listing status to Sold. No entry is needed in that field post-closing. If changes are required, use the ✎ Edit icon.