REsides, Inc. an equity ownership MLS, Plans to Opt-Out,
Expand Options, and Implement Changes Ahead of NAR
Settlement
HILTON
HEAD ISLAND, S.C., June 24,
2024 /PRNewswire/ -- In a move to support its
subscribers, REsides MLS has announced it will not be opting into
the National Association of Realtors (NAR) settlement. Instead,
REsides will implement its own changes, beginning in late August.
This decision is part of REsides' ongoing commitment to being a
strategic partner for Brokers with expanded opportunities and
support to manage their business into the future.
REsides has not participated in the field requirements that are
the issue at the center of the NAR settlement. "We are very
proactive in our rule making and normally make changes before they
become issues in the marketplace. Even so, transformation can
sometimes be the best thing," said Colette
Stevenson, CEO of REsides. "By rolling out additional
changes, we are helping our subscribers prepare for advancement by
providing more options for them and their clients while providing
increased transparency."
Being Proactive is Key
With the NAR settlement changes coming soon, REsides is
preparing initiatives to ensure a smooth transition for its
subscribers. The organization launched its new REsides University
this week - featuring webinars and classes over the coming months
to empower agents with tools to propel them into the next era of
Real Estate.
New Features for Subscriber Success
The platform used by REsides has expanded Broker options with
several new features in response to the upcoming changes. These
include new fields where sellers can list potential concessions,
allowances, listing media, documentation, and more. Other rollouts
include flexible new buyer agreements, listing agreements, listing
addendums, and input forms.
Stevenson emphasized the importance of the decision, stating,
"Our goal is to provide subscribers with the information they need
to do their jobs effectively, efficiently, and with the least
amount of friction. This is an ongoing and fluid process, but we
are committed to supporting our subscribers to fulfill their goals.
By empowering our Brokers with choice, we enable them to evaluate
the options independently to determine what is best for them."
explained Stevenson.
New Forms
A listing Addendum will be issued in early July to make it
easier for agents to maintain long-standing relationships with
their clients and address any potential issues that may arise.
"Our state law allows for compensation to be offered," noted
Stevenson. "Agents need to be able to communicate options to buyers
and sellers in a clear and concise manner. It's understandable that
change can be frustrating, but we are encouraging our subscribers
to embrace forward-thinking strategies to improve conversations
with their clients. The highest level of communication and
transparency is essential for one of the most important financial
transactions a consumer can make."
Much like Northwest MLS in Washington
State, REsides is taking an independent approach to these
industry changes. Northwest MLS, which is broker-owned, also opted
out of joining the NAR settlement, noting its compensation field
offers greater transparency for consumers.
While acknowledging that agents question the basis for the
settlement decisions, Stevenson remains positive "Our industry is
so adaptive and resilient, hundreds of brokers are already making
smart decisions and strategic changes. The path may be a little
rocky, but we believe that moving into 2025 will be much smoother
than anticipated. REsides' course and purpose remain the same for
our subscribers – which is to provide the best professional
advisory services to homebuyers and sellers. REsides is committed
to working closely with our brokers to provide the most flexible
and supportive environment possible."
About REsides
REsides is a groundbreaking, independent, and borderless MLS
with a unique equity-ownership model. With a focus on innovation
and modernization, REsides puts the power of listing data back in
the hands of brokers, providing strategies that break traditional
barriers, expand business, and provide unprecedented access to a
diversified avenue of compensation. Headquartered on Hilton Head Island, SC, REsides is ranked in
the top 25% of all MLSs in the United
States, serving Real Estate professionals across the
Southeast. For more information, visit www.joinresides.com or
www.resides.io
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SOURCE REsides