A message from CRMLS CEO Art Carter
I want to thank you all for persevering with us through 2020. Last year was an incredibly difficult one. It’s thanks to the hard work of professionals such as yourself that we were all able to keep the real estate market moving – even during a deadly pandemic, political uncertainty, and personal challenges.
Now that 2020 is in the rear view, we can push forward into 2021 with a renewed commitment to what we do best. For you, that’s helping people fulfill the dream of homeownership; for CRMLS, it’s facilitating the business of real estate in every way we can.
We must be sure to keep our sights on these goals. It’s our job as your MLS to serve you, our participants and subscribers. Whenever we launch a new tech product or initiative, we hope we make it clear that we’re doing what we’re doing to make your lives easier. Working in real estate at a time like this is difficult enough. Let us be your trusted partner in bringing about a better 2021.
We have some great things planned this year. Let’s bring them about together.
-Art Carter, CEO, CRMLS
New consumer protection rules will soon affect real estate
On November 19, 2020, the National Association of REALTORS® (NAR) and the U.S. Department of Justice (DOJ) announced that they are in the process of coming to an agreement that will affect how you use CRMLS products and services.
Please note that this agreement is not yet final. As of this writing, they are in the middle of a communication period that will determine the exact rule changes. We will share the information we have so far, but some specifics may change.
Visit CRMLS.org/NewRules to keep up to date on how CRMLS will implement these rules.
What This Means
Please visit NAR’s official FAQ to learn more and watch a video explaining the agreement. Below is a condensed summary of proposed changes.
- Public display of buyer broker compensation
“…[The] amount of compensation offered to buyers’ agents for each MLS listing will be made publicly available. Publicly accessible MLS data feeds will include offers of compensation, and buyers’ agents will have an affirmative obligation to provide such information to their clients for homes of interest.” - Consumer access to all properties that fit their criteria
“…MLSs and brokerages, as always, must provide consumers all properties that fit their criteria regardless of compensation offered or the name of the listing brokerage.” - Forbidding buyers’ agents from representing services as “free”
“While NAR has long encouraged buyers’ agents to explain how they expect to be paid, typically through offers of cooperative compensation from sellers’ agents, there will be a rule that more definitively states that buyers’ agents cannot represent that their services are free to clients.” - Lockboxes and licensed agents
“[With] the seller’s prior approval, a licensed real estate agent will have access to the lockboxes of properties listed on an MLS even if the agent does not subscribe to the MLS.”
What Happens Next
From 11/19/2020, NAR and the DOJ will have a period of days or weeks to agree on exact rule changes. The NAR Board of Directors and DOJ will both have to approve the new rules. Per NAR, the “Court overseeing the settlement must formally approve the agreement, at which point [NAR anticipates] that the new rules will take effect.”
CRMLS plans to fully comply with the terms of this government-mandated agreement, once finalized.
Please continue to read communications from CRMLS, NAR, and your local Association or Board on these changes, and let us know if you have any feedback or questions.
Fair Housing Resources
Zillow’s 2021 transition to IDX
- Your CRMLS listing distribution options with Zillow changed on January 12. Please review our blog post regarding how Zillow’s transition to IDX affects you.
- View our FAQ to learn about IDX and how it’s available for you and your website as a CRMLS benefit.
- Zillow Listing Distribution FAQs
Education Corner
- Register for Managing Listings in i-Tech on 1/26 @ 2pm.
- What’s New in CRMLS i-Tech Rapattoni? on 2/1
- Rapattoni: Agent Essentials on 2/5
- Rapattoni: Searching 101 on 2/10
- What’s New in CRMLS i-Tech Rapattoni? on 2/10
- Engaging Clients with Rapattoni on 2/16
- Creating a CMA in Rapattoni on 2/22
Product Corner
- Rapattoni Enhancements are now live.
- View your Solutions page to see all MLS products available to you
