Posts Categorized: Executive Insights

Thinking of Retiring in California? Consider This First

There are a lot of things to love about California: the idyllic weather, the incredible landscape, fresh food and rich culture. There are also plenty of things to not love about California, including being expensive, dangerous and overcrowded in many popular areas. If you are retired or thinking of retiring in California, you might want to reassess that move.

“California has become an incredibly expensive place to live,” said Chris Motola, special projects editor at National Business Capital. “When looking through the lens of regional price parity, which compares cost of living to the national average, seven out of 10 of the most expensive metropolitan areas in the U.S. with populations greater than 300,000 are in California.”

“The trend of more retirees leaving for California than choosing to stay or move to the Golden State has been going on for years and will continue to get worse,” added Jason Lindwall, president of Move Concierge.

What’s causing this aversion to the biggest state on the West Coast? A few factors, actually. Here are three key signs you should not retire in California.

High Cost of Living

“Many point to the high cost of taxes on fixed-income households, but this is only a part of the reason as California offers several types of tax relief to seniors,” Lindwall said. “The big one is the astronomical cost of living compared to Texas and Florida, which is a common destination for elderly folks leaving California.”

Lindwall cited a Zillow report that showcased the average price for a home in California is up 3.2% year over year. “Retirees can sell and repurchase a new home in a cheaper state and use the proceeds for the cheaper cost of living they’ll enjoy elsewhere,” Lindwall explained.

“California’s cost of living is 42% above the national average, with housing, utilities and groceries significantly higher than in most states. Retirees on a fixed income may struggle to maintain their desired lifestyle, especially as prices continue rising,” said Yehuda Tropper, CEO of Beca Life Settlements.

Increasing Natural Disaster Threats

Earthquakes. Wildfires. Landslides. The list goes on and on with the natural disasters that California is currently dealing with and will most likely become more extreme in the future.

“More and more, the threat of natural disasters is factoring into where the elderly wish to age in place,” Lindwall said. “They don’t want a place where there is a high likelihood of evacuation.

“The Los Angeles wildfires burned around 35,000 square miles and scared the local population tremendously,” Lindwall added. “We should never underestimate the psychological toll something like this can take on someone who may have less mobility, chronic illness or other age-related ailments that can stress their health.

Tropper highlighted that in light of the recent wildfires, home insurance costs have gone up, as well as the number of policy cancellations.

Expensive Healthcare

While California is known for being a state that loves to embrace healthy living and clean lifestyles, it all comes at a cost. As retirees age and require more medical attention, the price goes up just to maintain a good bill of health, which can be quite costly in California.

“[The] monthly cost of nursing care, which is $11,437 in California versus $7,908 nationally,” Tropper added. “Unless you have a great long-term care insurance policy or a large nest egg that can cover the cost, another state is probably a better choice.”

Read the full article on GOBankingRates.com

Dallas and 4 Other Texas Cities That Retirees Will Flock To Under a Trump Economy

The upcoming presidency will bring plenty of changes to the economy and it can influence where retirees relocate. Some Texas cities are positioned to benefit from the incoming administration, plus the influx of retirees that may come their way. Dallas is one of the big-name cities set to welcome retirees, but there are a few other places to keep on your radar.

Billy Snelson, chief marketing officer of Move Concierge, knows his way around Texas, as he previously worked as the vice president of marketing at Keller Williams Realty and vice president of brand strategy for NFP, an insurance company. 

He grouped the Dallas and Houston Metro areas together when making his recommendation due to their similarities. He also made three additional Texas city recommendations which you’ll hear more about later. 

“A big draw for retiring in major Texas cities is the abundant senior living communities that provide on-site healthcare at an affordable price. These are often located near grocery stores and restaurants if driving is a challenge,” he said. With the question of healthcare and inflation at the center of a Trump economy, this makes these metro areas popular among retirees.

“The cost of living in Texas is lower in most states and there is no state income tax. If you own your own home, additional tax benefits usually come with having your own property,” Snelson added. “Furthermore, the major metro areas of Houston and Dallas have plenty of hospitals nearby in cases of emergencies. Dallas has access to many lakes, while Houston is only an hour from the Gulf of Mexico.”

Read the full article on GOBankingRates.com.

Get to Know Our Team — Jason Lindwall, Move Concierge President

A huge part of what makes Move Concierge so incredible is the people who power it. People fuel our culture, and their ideas inspire new initiatives and creative partnerships that take our services to the next level. Jason Lindwall is no exception. His value to the Move Concierge team as company president is undeniable as a real estate veteran, restaurateur and passionate believer in the future.

While Jason’s extensive real estate industry credentials certainly contribute to his success, his enthusiasm for smart tech is a major influence on the way he approaches his role. A self-proclaimed technologist at heart who loves to “geek out” on the latest gadgets and innovations, Jason is always thinking about how the smart use of emerging technology can elevate our mission to make moving easier for clients nationwide. 

Even his home demonstrates this passion for tech-enabled ease and efficiency. Free of the usual buttons or switches on the walls, everything throughout his house—from the lights to the TV, thermostat and even garage doors—is voice-activated and customized to his family’s routines.

Keenly aware of technology’s power to simplify, Jason is determined to develop more robust tech-enabled services at Move Concierge. Streamlining the complexity of the moving process will maximize satisfaction for our clients, providing greater value to our partners, too. And he knows that gleaning insights from customer data to better understand their needs will yield exceptional experiences for clients and partners alike.

It takes more than just shiny tech to deliver mind-blowing experiences, though. Customers also want to feel treated with care. That emphasis on hospitality is something Jason carries over from his second gig as a restauranter. For more than a decade, he has been an investor in Dallas-area restaurants, supporting local establishments that offer quality service while dishing out everything from Tex-Mex to seafood to classic American fare.

Jason compares running a good restaurant to building a successful team at Move Concierge. Since every customer may have different needs or tastes, he says it’s about creating a team that can quickly and efficiently identify and adapt to these needs to create the best experience possible.

When he’s not working, you’ll either find Jason eagerly toying with the latest gadgets and gizmos or hanging out with his wife and three grown kids. Whether nestled into a diner booth or off traveling the world, you can count on Jason and his family to be searching for their own amazing experiences—in particular, continuing their never-ending hunt for the world’s best burger.

Building a Legacy of Service: Move Concierge’s Path to Reshaping Home Services Support

When Gabe Abshire founded Move Concierge (formerly Utility Concierge) in 2009, he wasn’t just starting another home services company – he was addressing a fundamental challenge he’d discovered firsthand in the real estate industry. After years of running a successful satellite installation business across multiple states, Abshire noticed a recurring issue that was costing his company both time and money: technicians would arrive at homes only to find they couldn’t complete installations because basic utilities weren’t set up or TVs were still in moving trucks.

“That’s when the aha moment happened,” Abshire reflects. “We really understood that there was this little part in the moving process that was stressful as hell, and you really didn’t have someone to help you.”

This revelation led to the creation of a company built on three core principles: operating as a referral-based business focused on real estate professionals, giving customers genuine choices rather than pushing specific products, and maintaining transparent, efficient communication throughout the process.

The company’s streamlined approach begins about two to three weeks before closing, when real estate agents share their clients’ information. A dedicated concierge reaches out on behalf of the agent, immediately establishing trust and continuity in the home-buying process. What follows is a focused 30-minute consultation that covers everything from basic utilities to home security systems.

“We’re going to call you on behalf of that real estate professional,” Abshire explains. “We gush over our referral partners. When we have a conversation with you, we’re like, ‘Hey, Steve referred you over. We’re part of his process. He knows that moving is stressful, and he wants to help you.’”

In markets like Texas, where homeowners might face choices between 45 different electricity providers, this guidance proves essential. The concierge team helps clients navigate these decisions efficiently, presenting clear options based on the client’s specific needs. After the initial consultation, a separate team handles all the necessary connections, freeing the client to focus on other aspects of their move.

This systematic approach saves clients an average of eight hours of phone calls and approximately $1,000 in their first year through optimized service packages. But beyond the tangible savings, it’s the stress reduction that clients seem to value most. “Moving is often a happy experience – you’re moving to the next opportunity, a change in your life,” Abshire notes. “And if it’s not a happy experience, if you’re moving for another reason, we don’t want you to have to worry about this stuff.”

The company’s commitment to customer service has earned them over 20,000 positive reviews. Their approach is refreshingly straightforward: “We tell our concierges to recommend things that you would recommend to your mother, and talk to your clients like you’re your best friend,” Abshire explains. This philosophy has resonated particularly well with first-time homebuyers who may not have established service provider relationships.

Looking ahead, Move Concierge is expanding its service offering while maintaining its core focus on customer care. The company recently brought on Jason Lindwall, former COO of RealPage, as president to help drive growth into the multifamily and property management sectors. They’re also developing a tech-enabled platform to complement their high-touch service model, recognizing that some customers prefer digital solutions.

The company’s “concierge for life” concept represents its next strategic evolution. Through partnerships with premier moving companies and carefully vetted service providers, Move Concierge aims to become the go-to resource for all home-related services, from moving day and beyond. Unlike other platforms that might sell customer information to multiple vendors, Move Concierge maintains its commitment to curated, high-quality recommendations.

“We’re not trying to skip to the post-close services like refinances and insurance – we’re focused on taking care of the customer and getting them into the house first,” Abshire emphasizes. “We’ve mastered that over the last 16 years. We are the best in the world at it.”

For real estate professionals seeking to enhance their client relationships, Move Concierge offers a service that simplifies a traditionally complex part of home buying. By managing utility and home service setups, agents can focus on their core expertise while providing lasting value that extends beyond closing day. The result is an experience that has become indispensable for agents in today’s demanding market.

Read the full article on KeyCrew Journal.

This Is How Much You Should Tip Movers, According to Industry Experts

All kinds of factors influence how much it costs to move, from the distance between your old place and new one to whether you’ll purchase extra moving insurance to what time of year you plan to move. But whatever the sum you end up being charged, you’re likely wondering: How much should you tip your movers for a job well done?

While tipping isn’t required, and you shouldn’t expect it to be included in initial price quotes, it is standard practice to tip your hard-working moving crew: “They move all of your worldly possessions,” says Billy Jack Snelson, chief marketing officer of Move Concierge. “Getting your stuff from point A to point B safely is worth showing a little gratitude.”

The question isn’t so much whether to tip but how much. Here’s more nitty gritty info on tipping movers, including how much you should tip, what factors drive gratuity up (and down), even who you should hand the money over to at the end of a move.

What’s The Standard Tipping Rate For Movers?

Moving is typically billed as an hourly rate or a flat rate, and different services such as unpacking boxes, covering floors with protective materials, and hauling extra-large items can tack on extra costs.

But when it comes to tipping, several experts said it’s most commonplace to tip a percentage that’s based on the total cost of the move. Those experts quoted anywhere from five percent to 20 percent.

Matt Graber, co-owner of Cool Hands Movers in New York City, says those moving should plan to tip between 15 to 20 percent of the total cost of the move, no matter the team size. By that reasoning, if a local move cost you $3,000, the tip amount would be $450 to $600, divided up among the crew members.

In other parts of the country, outside of dense cities, a simple half-day move across town, may warrant a tip on the lower end of the spectrum (between five to ten percent), experts say. That would be in places where there’s little traffic; the move is straightforward, with no elevator reservations or traffic restrictions; and the movers can expect a clear driveway accessing a one-story home.

On the other hand, multi-day moves out of state that are more involved warrant the higher 15 to 20 percent tips, Snelson says.

Read the full article on housebeautiful.com.

Get to Know Our Team – Gabe Abshire, Move Concierge Founder & CEO

Let’s dive into Gabe Abshire’s story and get to know the man behind Move Concierge.

Have you ever felt overwhelmed by all the little details when moving? Gabe’s been there, and he’s made it his mission to take the stress out of your moving experience.

The Birth of Move Concierge

Picture this: You’re about to move, and your mind is racing with questions.

“Who’s got the best internet in my new neighborhood?”

“Which utility providers do I need to switch to?”

“I should look into home security, but which one?”

Sound familiar? These are the exact headaches Gabe set out to solve with an idea he had twenty years ago. He was knee-deep in the satellite TV installation business, constantly dealing with time-consuming hassles on both sides of what should be a simpler setup. Gabe’s entrepreneurial spirit kicked in. He saw an opportunity to help people with their pesky but all-important moving-related tasks, and a few years later in 2009, he founded a company to do just that.

The Secret Sauce: Customer Experience & Talent

Gabe’s vision for Move Concierge (formerly Utility Concierge) has always been about delivering mind-blowing experiences for everyone we work with — from clients to partners alike. The average American moves about 12 times in their life, and Gabe knew he could make those moves easier. By bringing together the right talent with a focus on customer experience, he set out to transform the industry landscape for movers as well as for the real estate professionals who support them. Move Concierge’s dedicated and talented team brings his vision to life each day to “Set up Your Home Services in a Snap”.  

Personal Side: A Man on the Move

Gabe isn’t one to sit still. Whether it’s traveling with his family or pushing his business to new heights, he’s always looking for the next adventure. It was actually a family trip to Italy last year that sparked a whole new vision for Move Concierge.

During that trip, Gabe read the book “10x is Easier Than 2x”, by strategic coach Dan Sullivan and organizational psychologist Dr. Benjamin Hardy. He was struck by their ideas about establishing “breakthrough goals” instead of incremental ones, and it elevated his perspective. Sometimes we all we feel threatened by challenges, limiting our sense of what’s possible. But when we can imagine our way beyond those limitations, we envision futures we might not have even considered before. This in turn allows us to strategize how to achieve them, and commit to big ideas that no longer seem so impossible. Gabe took the 10x mindset to heart and it unlocked his imagination yet again.

Returning from his trip, he realized he was ready for that next big leap. With only a fraction of moving households currently using their services, he saw potential for massive growth. Reimagining Move Concierge’s mission to help movers nationwide, Gabe sharpened his aim to define a new standard in the home service setup landscape. He started making bold moves for the business: a new name and rebrand to reflect the broader vision, an expanded leadership team, new priorities around lead diversification, and a vision to build advanced technology solutions and new product offerings.

The Personal Side

Gabe’s wife Veronica, kids Andrew and Renee, and their Boykin Spaniel, Bruno, are at the heart of everything he does.

When he’s not revolutionizing the moving industry, you might find him spending time with his family and seeking new adventures together. He also enjoys golfing, hunting and snow skiing.

What’s Next?

Gabe’s new strategy is on the move and ready to transform your moving experience with one simple, stress-free call.

So next time you’re facing a move, think of Gabe and the stellar team at Move Concierge. We’re here for more than just setting up your home services — we’re in the business of delivering transformative, mind-blowing experiences. And who couldn’t use more of that?

Inflation edges up slightly, but not enough to cause major concerns

Inflation ticked up in October, but in line with forecasts. And that means a December rate cut by the Federal Reserve could still be in the offing.

The Consumer Price Index (CPI) increased 0.2% in October, the same increase as the previous three months, according to the U.S. Bureau of Labor Statistics. The price of all goods increased 2.6% year over year.

“Both headline CPI and core CPI were right in line with forecasts, potentially supporting an additional 25-basis point federal funds rate cut in December, barring any upside surprises in November payrolls data,” said Sam Williamson, First American’s senior economist, in a statement.

The index for shelter rose 0.4% in October, accounting for over half of the monthly all items increase. The food index also increased over the month, rising 0.2% as the food at home index increased 0.1% and the food away from home index rose 0.2%. The energy index was unchanged over the month, after declining 1.9% in September.

Americans are still feeling the pinch of inflation, but not nearly as much as a year ago, said Gabe Abshire, CEO of Move Concierge, in a statement. With the rate cuts and inflation taming, next year could still be a busy homebuying year.

“As we move into the holiday spending season, we anticipate strong retail sales and a slow winter home buying season,” Abshire said. “However, with an additional interest rate cut expected, more and more people will be looking to move in the first quarter of 2025.”

Read the Scotsman Guide article.

Will October’s inflation increase slow the pace of interest rate cuts?

Inflation increased to 2.6% in October, rising modestly from the previous month, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS).

In October, inflation was above the annual inflation rate of 2.4% in September, and it increased 0.2% on a monthly basis, according to BLS. The cost of housing was the most significant contributor to the monthly increase in October, accounting for over half of the rise of the monthly all-items index. The price of food also increased by 0.2% in October. Energy prices remained unchanged after dropping 1.9% in the previous months. These lower prices are helping to bring down the overall cost of goods and services, offsetting increases in other parts of the economy.

If the pace of price increases continues to mount, it may influence the Federal Reserve’s pace of interest rate cuts. Last week, the Fed announced a highly anticipated quarter of a percentage point cut, lowering interest rates to between 4.5% and 4.75%. However, inflation has moderated substantially over the last two years, from a peak of 7% to 2.6%. Fed Chair Jerome Powell said the Fed remains committed to maintaining the U.S. economy’s strength by supporting maximum employment and returning inflation to its 2% goal. 

“Markets have dialed back expectations for another cut and are currently pricing in somewhat lower ~60% odds of that outcome,” Realtor.com Chief Economist Danielle Hale said. “The November jobs report, due out in early December, is likely to be an important input in that decision alongside the latest inflation reading.”

For now, moderate inflation and the Fed’s dialing back of interest rates are likely to give consumers space to spend as the holiday season approaches, according to Gabe Abshire, CEO of Move Concierge. 

“The average American consumer is still feeling the pinch of inflation, but not to the same extent as last year when it greatly hampered monthly household spending,” Abshire said. “As we move into the holiday spending season, we anticipate strong retail sales and a slow winter homebuying season.”

Read the full article Fox Business article.

Pending home sales tank in July, but the slump is likely short lived

Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July.

That’s according to the July pending home sales index from the National Association of Realtors. On an annual basis, the index fell by 8.5% to the second lowest seasonally adjusted rate in the data’s history, topping only April of 2020 when the market was frozen by the pandemic.

The index fell by 5.5% month over month to 70.2. Anything above 100 is considered to have a higher level of activity relative to 2001.

“A sales recovery did not occur in midsummer,” said NAR Chief Economist Lawrence Yun in a statement. “The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election.”

In addition to the election, there are a number of reasons why buyers might be hesitant to jump back into the market. While rates are falling, they’re still high relative to recent history. With the Federal Reserve almost certain to cut rates in September, buyers might do well to wait a couple months.

Some buyers also are considering the recent rule changes related to the $418 million settlement of antitrust lawsuits signed by NAR. Buyers are accustomed to sellers paying for their agents, so shoppers who’ve bought a home before feel uncertain about how to navigate the new landscape.

Then there’s the obvious — affordability remains incredibly strained, with home prices at or near all-time highs in most markets.

Despite the disappointing numbers for July, economists expect the slump to be short lived as rates drop further, the election passes and shoppers get more accustomed to the new rules.

“With rates set to drop beginning next month and expected to continue declining through the remainder of the year, we expect America to be on the move again soon,” said Move Concierge CEO Gabe Abshire in a statement. “It will take a month or two longer, however, until we see home sales beginning to trend back upward. But we believe the market will turn.”

On a month over month basis, the index fell in all four regions of the country with the midwest (7.8%) and the south (6.5%) falling the most. The west fell by 3.8%, while the northeast dropped by a more modest 1.4%. The south posted the highest index number at 83.5, and the west posted the lowest at 56.2.

However, the numbers are more mixed on a year over year basis, with pending home sales rising in the northeast but falling in the midwest, south and west.

Fine Times: MLS Execs Ponder Penalties for Compliance Culprits

No-nonsense approach taken to ensure no nonsense is attempted by agents considering shortcuts and/or commission no-nos.

Now that the now-famous date of Aug. 17, when complying with the National Association of REALTORS®’ (NAR) settlement became mandatory, has come and gone, the newest question is what happens if and when real estate renegades operate outside the box? What penalties might there be for those who ignore, bend or outright flout the rules, putting themselves and potentially their brokerages at risk?

Michael Ketchmark, the lead attorney for the Burnett plaintiffs, has vowed that there will be eyes everywhere, and any funny business will be met with new, stone-cold serious litigation.

It’s shaping up to potentially be a fine mess, literally.

Sajag Patel is a real estate industry analyst and chief revenue officer of Move Concierge and the former COO of Keller Williams. His advice pre-Burnett differs from post-Burnett, making sure real estate professionals understand what has happened and how things have changed, with much closer scrutiny on buyer agents especially.

“The new rules are intended to create transparency for both homebuyers and homesellers so that it’s clear how much compensation is being provided to each respective agent,” he says. “They reaffirm that all agents are allowing the seller to determine how much compensation, if any, they are willing to pay the buyer’s agent. It also reasserts that buyers’ agents are not telling their buyers that their services are free, but that their services are for a cost, and now that cost must be communicated. 

“This means that agents today must now look for ways to add value to the transaction in order to justify the fee for their expert services, and those who succeed will be the ones who get creative about how they do this. There is some speculation that this ruling may spur some agents to leave the industry, but the past has shown that real estate agents are surprisingly adaptable and often embrace change, and I think this time things will be no different.” 

For those who decide to try and outsmart the system, there will be penalties if caught. RISMedia spoke with major MLSs about plans they have for offenders, finding that fines are the common punishment.

“We are readying fines, but taking a much more benevolent approach with our members,” says Anne Marie DeCatsye, CEO of Canopy REALTOR® Association/Canopy MLS, which encompasses North and South Carolina. “I have said this when I speak, that ‘We’re in this with you.’ We didn’t ask for this any more than they did, but it’s on us to enforce now. We may have already started violation notices, to let our members know that ‘Hey, this is a violation. You need to change it, fix it.’ We’re not going to fine, though, until after the first of the year. 

“We’re hoping that we can really use from now until the end of the year as an education opportunity. I believe the only thing we’re forcing immediately is if we discover that data from the MLS is in any way used to set up a platform for sharing compensation. And if that’s the case, we’ll shut you down immediately until that issue is resolved. Otherwise we’re trying to all learn it at the same time.”

Richard Haggerty is CEO of OneKey® MLS, New York’s largest such organization. He doubles down on those trying for an unfair advantage.

“The enforcement of the new rule prohibiting any mention of compensation in the MLS is structured around two key components,” he says. “First, we are heavily investing in the education of OneKey® MLS participants and subscribers, ensuring they are fully informed of the new rules and requirements, including the mandate for written buyer agreements. Second, enforcement through fines will be implemented when necessary to address willful non-compliance.

“As a REALTOR® association-owned MLS, we are obligated by the terms of the settlement agreement to enforce these rules, and we are committed to doing so with the utmost fairness and transparency. Brokers who seek to circumvent these rules not only put themselves at risk but also endanger the interests of their peers. Therefore, ongoing education, coupled with rigorous enforcement, remains essential.”

The same “get educated and follow the rules” mindset is stressed by Bright MLS EVP of Customer Advocacy Rene Galicia. His is the second-largest MLS in the country, representing mid-Atlantic states.

“Bright, like other MLSs, is tasked with enforcing the terms of the NAR settlement, which prohibits any mention of compensation in the MLS,” he says. “Bright has worked since the settlement all summer to educate our thousands of subscribers and meet them where they are with both virtual and in-person training, live and recorded webinars, weekly communications and a thorough library of information on our website. 

“We have a new tool in our system to help flag any words that would be considered an attempt to convey compensation, giving the subscriber a chance to fix the issue before the listing is completed. If a listing is found to have compensation information included, either directly or by an attempt at a work-around, the information will be pulled, and the subscriber will be issued a fine.”

On the Stellar MLS website, CEO Merri Jo Cowen speaks on several topics via video, including compliance. Stellar is owned by 19 REALTOR® associations and boards representing over 80,000 real estate professionals in Florida and Puerto Rico, and is the third-largest MLS in the U.S. and the largest in Florida.

“The big question is who’s going to enforce this?” she says in the video. “Well, unfortunately, or either way, however you look at it, it is Stellar. We will be enforcing as it relates to the MLS rules and regulations that the buyer broker agreement (BBA) was executed before touring or showing a property. And then we also must enforce that all of those required components are included in the document. 

“So how are we going to enforce this? That’s the biggest question we’re getting. If we receive a notification of a possible non-compliance or violation through one of our reporting systems through metrics or through an email, our compliance team will follow up, contact the showing agent, request a copy of the BBA, and that needs to be submitted into Stellar within one business day. When we get that copy we’ll look at it and make sure it’s compliant.

“Not only must it be complete and meet the requirements of the not open-ended compensation and all of those pieces, but we’ll also be reviewing the form itself. And along those lines we’ll want to be sure that the brokers are being diligent about making sure the form itself is compliant, and that’s how you’ll avoid any penalties.”

Cowen went on to say that Stellar was enforcing the new rule for BBA before showings starting Aug. 6. “We will have a 60-day grace period to give you a chance to get used to it,” she concluded. “We’ll be sending corrections or notices, but there will be no penalties assessed.”

CRMLS is the nation’s largest subscriber-based multiple listing service. It serves more than 110,000 real estate professionals from 41 associations, boards and MLS organizations. On Aug. 13, CRMLS enacted new rules and policies to remain compliant with the regulations set by the commission lawsuit settlement. Most notable of these changes is the removal of Buyer’s Agency Compensation fields. Along with their removal, it is now against CRMLS rules to note offers of compensation in the MLS and doing so will result in a $2,500 fine.

“CRMLS has taken substantive measures to educate our users on the new rules and associated fines,” says CEO Art Carter. “The goal is to ensure compliance and help reduce potential broker liability.

“The CRMLS executive team has attended numerous in-person brokerage and AOR meetings to present the changes that have resulted from the NAR settlement. The Marketing & Communications department also created a robust communication plan consisting of frequent emails, REcenterhub dashboard articles, MLS system pop-ups and social media to help prepare users prior to the changes’ enactment.

Additionally, while in the listing input process, warning messages in bold, red text appear on Private Remarks, Public Remarks and Showing Instructions text fields. Private Remarks may also display a pop-up message titled ‘Private Remark Warnings and Errors,’ which indicates that a prohibited word was entered and the listing may result in a violation. CRMLS has also partnered with ShowingTime to provide prominent alerts to explain that buyer representation agreements are required before showing or touring a home.”