Compliance Corner- Reporting concessions on Closed listings



Please note: this article is a snapshot of a message that was posted on the MLS system at some point within the last year.  Things evolve rapidly in our industry, and the information in this article may have changed since it was first published. Compliance Corner articles are not updated after they are published, even if the information contained within has changed.

For the most up-to-date information on this (or any other topic), please visit our SmartDesk.


Compliance Corner #36

April 23, 2021


Reporting Concessions on Closed Listings

Entering seller concessions correctly is an important part of closing your listing. The closed price is used for a variety of statistical purposes in the SmartMLS, the most important of which are CMA comps and appraisals.

When reporting a Closed listing in Matrix, the sales price should match the amount recorded at Town Hall when the title has passed. 

Do not add or subtract the concession amount from your closed price.

Any concessions are to be recorded in the Concessions field:



If you enter a Concessions amount, you can choose to use the adjacent Description of Seller Concessions field to provide a brief explanation of the nature of the concession.



Sale Price recorded at Town Hall: $300,000 (amount entered in Closed Price field)

Concessions to buyer:  $6,000 (amount entered in the Amount of Seller Concessions field when marking the listing Closed).

You can find the amount of seller's concessions (as well as the description of the concessions) on a closed listing in the Marketing History section towards the bottom of the Agent Full display:



If you have any questions about how to enter a concession, please contact SmartMLS at 203-750-6000.



NOW AVAILABLE:  Compliance Corner Archive!

Have you ever wanted to revisit a past Compliance Corner article that is no longer available in Matrix?  Now you can.  Simply click this link or enter compliance corner in the SMARTDESK search bar and you will be able to view all past articles.

As always, please feel free to contact the Compliance Team for additional information.  Send an email to or call us at 203-750-6000.


Was this article helpful?
0 out of 0 found this helpful



Please sign in to leave a comment.

Our support hours:
Mon-Thursday - 8:30 am - 7:00 pm Fridays - 8:30 am - 6:00 pm Saturday/Sunday - 9:00 am - 3:00 pm
About SmartMLS
Working with you to make homeownership happen.
Tell Us How We're Doing
Take a minute, let us know or send us a suggestion