“In 2023, nearly 40% of CRMLS’s Closed listings included concessions, i.e., monetary payments that a seller agrees to contribute towards the buyer’s expenses and other costs a buyer is responsible for in the transaction. Historically, concessions were only included in Closed listings. The new CiP fields will provide concession information at the listing level and be directly available in the MLS, so seller agents can fill them out when adding a listing. CiP fields will benefit all parties as those on the selling side can more easily market listings while those on the buying side receive a clearer idea of financial options.”
CRMLS
CRMLS has taken the leadership position on these “CiP” fields. Very smart of them to launch prior to the deadline. This will give them some real world experience on implementation and make necessary adjustments if need be.
