October 2024 Broker Report

October Adapt to Thrive

IN THIS ISSUE
Trigger Words for Open Text Fields
Rayse Recording
MLS Stats
Broker Compliance Helpline
Compliance
Enhancements & Products


Know the Trigger Words for Open Text Fields 

As part of the new policies resulting from the NAR commissions settlement, there can be no insinuation of compensation in listing fields such as Public Remarks. Read our list of the most common keywords that will prompt a system warning.


James Dwiggins: “Unlocking the True Value of a Realtor” Recording

We recently hosted James Dwiggins, CEO of NextHome, for a webinar on how agents and brokers can adapt to new commission settlement policies. Watch the recording to learn how brokers can navigate these changes while helping agents innovate and educate their clients.

During the webinar, James introduces a new product called Rayse. In today’s market, it’s crucial to demonstrate your agents’ value in every real estate transaction. CRMLS proudly supports Rayse, a unique productivity platform that highlights agents’ contributions—from open houses to escrow—ensuring clients see their full value at every step.


Stats


Broker Compliance Helpline

You can contact the Broker Compliance Helpline in three simple steps:

  1. Make sure your MLS ID is ready (note that only active Brokers, Office Managers, and Personal/Office Assistants connected to a Broker or Office Manager can use the Helpline). To learn if your ID has the correct MLS user class, please email brokers@crmls.org.
  2. Call 909-859-2043.
  3. Press 3 to speak directly to a Compliance Analyst for assistance.

You can reach us Monday – Friday from 8:30 AM – 4:00 PM PT. Please do NOT share this phone number with agents. 

If you have questions regarding your user class or Personal Assistant/Office Assistant accounts, please email us at brokers@crmls.org.


Compliance

Question of the Month

“You might remember that CRMLS has rules about “branding” or the way you market yourself/your brokerage when promoting a listing. Which of the following does CRMLS consider branding?” 

  1. A photo showing an entrance marquee with the name of the community
  2. Agent contact information at the end of a virtual tour
  3. Agent’s yard sign in the photo
  4. Both (b) and (c)

Answer: D

Branding includes, but is not limited to: signs, contact information, identifiable person, logos, slogans, catchphrases, external links or references, team names, or any other items related to the broker, agent, or brokerage. Uploading photos to the MLS with branding violates CRMLS Rule 11.5 (e).

Additional resources are available here: 


Enhancements & Products

Refine Your Financing with CRMLS Products

If your clients have reservations about how to plan and secure their mortgage, or if all the numbers and percentages are making their heads spin, CRMLS has tools to help calm their concerns and make financing less intimidating.

RatePlug

When a listing only advertises the asking price, a client only sees a huge number without any concept of how or if they can afford it. RatePlug helps market the real cost of the property, with mortgage information that plans out monthly payments and can provide answers to common “what if?” scenarios. Embedding RatePlug info on your listings helps turn homeownership from passive fantasy into active reality, as potential clients can get a better picture of real costs and see what lending options are available to them. It can also be an incredible time saver for agents, as RatePlug can research a property’s eligibility for financing programs like FHA, VA, or USDA, thereby increasing the potential buyer pool. It’s the customizable financing tool that makes your listings all the more accessible.

RatePlug is available at no additional cost to all CRMLS users, and you can learn more about its features in our Knowledgebase.

Down Payment Resource (DPR)

While getting a good mortgage rate is important, the biggest hurdle for some clients will be the initial down payment, as it’s a lot of money to part with all at once. That’s why CRMLS offers DPR, which tracks hundreds of California homeownership programs (and thousands nationwide) through its finance agency partners. DPR can then automatically match these programs with eligible buyers, offering them crucial assistance for their financial planning. You can also easily enable DPR on your IDX sites, so potential buyers can see how accessible financing options can be. It’s a dynamic tool that helps ease your clients into homeownership and relieve them of the anxiety and burden of their down payment.

DPR is a core product available at no cost, and you can find guides on how to use it in our Knowledgebase.

Mortgage Calculators
Whether you’re on the go with your clients or are taking questions from prospective buyers at an open house, sometimes you need to do some quick calculations while you’re in the field. Many of our mobile-friendly apps can help you with the nitty gritty of providing payment figures in just a few clicks. You’ll find mortgage calculators in MLS-Touch, Paragon Connect, and, of course, the ever-useful CRMLS App. Don’t get caught off guard with financing questions, and make sure to always keep a mortgage calculator handy.

Money issues are never fun to discuss, and the anxiety around putting so much money down or signing up for a long-term loan can stop your client’s home buying journey in its tracks. Ensure that they feel safe and secure in your capable hands with all the CRMLS tools available to you. You’ll be a financing hero there to save the day while saving your clients’ money.

Matrix

Paragon

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