As of August 13th, 2024, several MLS fields were removed or added to Matrix and Flexmls to comply with the NAR settlement. The changes are as follows.
Matrix Field Changes
Fields that will be removed
Compensation Trans Broker
Compensation Buyers Agent
Compensation Representative
Variable/Dual Rate
Commission Description
Renewal Commission
Seller Concessions Comments
Buyer Contributions Comments
Fields that will be added
Negotiable Seller Concessions YN
Lookup Values that will be removed from Specified Fields
Seller Concessions Type
Commissions
Doc Stamps
Prepaid Expenses
See Seller Concessions Comments
Title Fees
Buyer Contributions Type
Commissions
Doc Stamps
Prepaid Expenses
See Buyer Contributions Comments
Title Fees
Lookup Values that will be added to Specified Fields
Seller Concessions Type
Home Warranty
Interest Rate Buydown
Special Assessments
Other
Buyer Contributions Type
Home Warranty
Interest Rate Buydown
Special Assessments
Other
Flexmls Field Changes
Fields that will be removed
Comm/Non-Rep
Comm/Buyer Agent
Comm/Trans Brk
Bonus
Var/Dual Rate
Comm Renewable
Commission Description
Seller Concessions Comments
Buyer Contribution Comments
Fields that will be added
Negotiable Seller Concessions YN
Lookup Values that will be removed from Concessions: Seller Concessions
Commissions
Doc Stamps
Prepaid Expenses
See Concession Comments
Title Fees
Lookup Values that will be removed from Contributions: Buyer Contributions
Commissions
Doc Stamps
Prepaid Expenses
See Concession Comments
Title Fees
Lookup Values that will be added to Concessions: Seller Concessions
Home Warranty
Interest Rate Buydown
Special Assessments
Other
Lookup Values that will be added to Contributions: Buyer Contributions
Home Warranty
Interest Rate Buydown
Special Assessments
Other
Note: When selecting the value of Closing Costs in Seller Concessions or Buyer Contributions, please note that it covers compensation, Inspection, property tax credits, prepaid expenses, title fees, and doc stamps.