Both REcolorado and IRES made announcements this week on how seller concessions can be shown through their respective platforms. The REcolorado MLS now allows agents to itemize concessions when closing a listing. This can be accomplished by using the provided drop-down menu where agents can specify the type of concession and the associated dollar amount for each concession. The Closed Listing Display will also now show a Net Close Price which is the closed price, minus the concessions.
IRES announced that effective immediately, numerical amounts can be included in the seller concession language for listings. An example of the allowable language is ‘$5,000 carpet allowance’, ‘$10,000 buyer closing cost’, ‘$25,000 in free builder upgrade’, and ‘2-1 buydown available.
Both of these changes are due to feedback from MLS users.
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