To comply with the practice changes required by the National Association of REALTORS’® Settlement Agreement, your NNRMLS team is hard at work preparing the technical changes that will need to be implemented on August 15, 2024. These changes and updates will primarily impact Paragon MLS and TransactionDesk. Below is an outline of the changes you can expect to see.
What Will Change in Paragon?
All fields and other areas that include the word “compensation” or “commission” will be removed from Paragon MLS on August 15, 2024 in compliance with the practice changes required by NAR’s Settlement Agreement.
The following fields will be removed from the Paragon MLS system on August 15, 2024, and will be unavailable thereafter:
- “CBB $ or %”
- “Comm to BB”
- “Variable Rate”
- “Sliding Scale”
- “CBB Of” (applies to the rental-only class)
FAQ:
Q: When the compensation fields are removed, will I still be able to view historical compensation data?
A: No. When the compensation fields are removed, the historical compensation data will not be available.
Q: On or after August 15 can I enter compensation information in remarks, an associated document, or into another field?
A: No. Beginning August 15, it will be prohibited to enter compensation information in the remarks, in an associated document, or in another field.
Notwithstanding the updates outlined above, no other changes will be made at this time and Paragon MLS will operate as normal after August 15, 2024.
What Will Change in TransactionDesk?
NNRMLS will update forms in TransactionDesk on August 15, 2024. The form updates comply with the practice changes required by NAR’s Settlement Agreement.
Following is a list of those updates:
- All NNRMLS Listing Input Forms for all eight listing classes will be updated.
- The NNRMLS Status Change Form will be updated.
- The temporary Status Change Report Form added to TransactionDesk in July will be removed on August 15, 2024.
TIP: When forms change, check your Templates in TransactionDesk.
The NNRMLS Settlement Agreement Toolkit is Now Available
Our team has been working behind the scenes for weeks creating resources for the new Settlement Agreement Toolkit section on the MLS Rule Book page.
The page includes:
- Training, including in-person classes and webinars
- On-demand videos
- An MLS Policy Change Guide
- An MLS Form Change Guide
- A link to this blog that explains Tech Changes to Paragon and TransactionDesk
- An FAQ with links to NAR’s Facts.REALTOR page
Click the button below to view NAR’s Settlement Agreement Toolkit.
NAR Resources on Facts.REALTOR
The National Association of REALTORS® has provided a comprehensive webpage called FACTS.REALTOR providing members with valuable information about the Settlement Agreement and how to navigate the changes. Click the button below to view that page.
NNRMLS Training Schedule for NAR Settlement Agreement
8/5 – 9:30 am – Webinar
8/5 – 2 pm – In-Person Class, SNR Reno
8/6 – 10 am – In-Person Class, Fallon
8/7 – 10 am – In-Person Class, SNR Carson
8/7 – 3:00 pm – In-Person Class, SNR Reno
8/8 – 11 am – Virtual Town Hall for Brokers, Zoom (email amied@nnrmls.com for an invite)
8/9 – 11 am – In-Person Class, Gardnerville
8/12 – 2 pm – In-Person Class, SNR Reno
8/14 – 2 pm – In-Person Class, SNR Carson
8/15 – 10 am – In-Person Class, SNR Reno
8/15 – 2 pm – Webinar
Click the button below to register for all (except for Broker Town Hall) classes.
All classes are scheduled for 1 hour.
Director of Marketing at Northern Nevada Regional Multiple Listing Service
