Video Tutorial & steps to Adding Seller Concessions Offered
A Seller Concessions Offered field is now available in the Realtracs platform. Why make this small addition? We’ve added this field in part due to the required Practice Changes in the recent antitrust settlement agreement with the National Association of REALTORS® and our CONTINUED desire to provide clean, accurate data in the marketplace.
What Are Seller Concessions?
- An arrangement in a real estate transaction where the seller covers certain costs or fees associated with purchasing a home.
- Seller concessions are generally negotiated as part of the buyer's and seller's purchase agreement.
- They can take various forms, such as covering part of the buyer's closing costs or other expenses involved in the purchase.
Click the link below for guidance and resources:
Understanding Realtracs Seller Concessions- While composing or editing their listing, the listing agent can toggle on the Advertise an offer of Seller Concessions and then enter in a dollar amount in the Seller Concessions Amount field in the Listing Details section of their listing.
- Once the listing is published as Coming Soon or Active, the seller concessions are viewable on the full Property Report, by Realtracs users and consumers under the list price.
Scroll down in the report to the Contract Information section, to view it under the Original List Price.
- When the listing agent changes the status to Closed in Realtracs, they can enter the ACTUAL dollar amount paid in concessions in the Total Seller Concession Paid field.
- Once the listing is closed, brokers and agents can view the Total Seller Concessions Paid on the closed Property Report under the Contract Information section, under Sales Price.
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