ROAM is making changes to how concessions are being recorded in Paragon on April 17th
ROAM is changing how concessions are recorded so that more details are available for users. Four new Concessions fields will be added to the Sold information when closing a listing. The fields are listed below. The system will auto sum the four fields to populate the Concessions Amount Field.
- Concessions Closing Costs – The total seller-paid costs related to the transfer of ownership. Ex attorney’s fees for the title search, closing, and title insurance
- Concessions Property Improvement costs – The total seller-paid costs related to improving or repairing the property. Ex costs for a new roof or carpet
- Concessions Financing Costs – The total seller-paid costs assisting the buyer in obtaining financing. Ex origination fees, discount fees (points) to get a lower rate
- Concessions Other Costs – The total other seller-paid costs are not for closing costs, improvement costs, or financing costs. Buyer’s agent compensation SHOULD NOT be included in Concessions Other Costs. Buyer agent compensation should not be included in any aspect of the MLS listing.
Field Rules: 1) If Concessions = Yes/Y, then the sum of the four fields cannot be 0 2) The sum of the four fields must be less than the List Price.
Action Required: None. If an office admin or personal assistant closes out your listings be sure to provide information for the four new fields.
