Important Memo from Saul Klein, CEO, SDMLS (May 28, 2024)

To all our valued SDMLS Subscribers and Participants, 

As you are aware, these are times of uncertainty for our Industry and I wanted to update you on some important developments regarding MLS changes in response to the NAR Settlement, which is currently on everyone’s mind. While the Settlement has yet to be finalized, we are closely monitoring the situation and the adjustments being implemented by other MLSs across the country, and especially those being implemented by the other MLS in San Diego County. 

After consultation with Industry and legal experts, SDMLS believes it is prudent to err on the side of caution, and not make any bold moves before we are required to do so by the Settlement. 

Therefore, we will not be adding more Seller Concessions Fields at this time. The current Seller Concession Fields after a transaction closes, will remain. Our reason for not following CRMLS and its addition of new fields is that there are some important dates coming up, and we want to make sure that when we do make changes to SDMLS fields, we are doing so having done as much due diligence as possible, and considering any new information that we may see coming from the Department of Justice in the next month or so. 

It is for this reason that we are going to leave the "CBB Field" until at least August 1, and that we are NOT going to add a "Concessions Field" at this time. It is our opinion that moving too quickly to add a “Seller Concessions” field could add to the confusion around the Settlement compliance requirements for our Users and their clients. We will continue to monitor the actions of other MLSs and will revisit the need for a "Seller Concessions Field" in 60 days, or sooner if warranted by evolving circumstances. 

We believe that our approach will not only benefit and protect you but will also ensure that your business operations continue smoothly without any unnecessary, premature disruptions. The Settlement deadline for removing the "CBB Field" is August 17, and we have every intention of fully complying with the Settlement and providing you with the tools and information to allow you to continue to conduct your business. 

We appreciate your patience and understanding during this period of uncertainty. We understand the recent Settlement has brought about significant changes to our Industry. Here at SDMLS, we are dedicated to keeping you informed every step of the way. We want to assure you that we are here to serve as your trusted resource for Industry updates and a valuable partner for your business. Your satisfaction and success remain our top priorities. 

For more information on the Settlement and the cases that brought it about, take a look at the links provided when you log into Paragon. 

Please let us know if you have any questions about the Settlement, and our strategy moving forward. 

Thank you for your continued trust and support. 

Sincerely, 

Saul Klein 

CEO, SDMLS