NAR Settlement: New Showing Forms Available
Florida Realtors released three forms – one revised and two new – in response to the NAR settlement agreement effective Aug. 17.
ORLANDO, Fla. – Florida Realtors® released new showing agreement forms on Tuesday. All forms are available in the Form Simplicity library.
NAR Settlement: What You Need to Know
NEW! Property Pre-Touring Agreement (PPTA-1)
There has been high demand from members for a tool that is concise, but satisfies the elements of the settlement. This demand gave rise to the development of the Property Pre-Touring Agreement.
This form provides a way to provide the necessary disclosures of the settlement to a consumer prior to showing property. The form also provides fundamental information regarding broker compensation.
There is educational value in this form regarding compensation but the form does not contain many of the typical contractual provisions that address the rights and responsibilities of the parties, including how compensation disputes are addressed. The form is likely most effective when used at the start of the relationship between the parties and members may want to consider graduating to a more well defined agreement between the parties as the relationship between the broker and consumer unfolds.
Please take the time to ensure that you select the agreement that best meets the needs of your relationship with the customer. The Form Simplicity library offers many options ranging from the simple to the more well defined.
NEW! Modification to Exclusive Buyer Broker Agreement/Showing Agreement (MEBBSA-1)
This newly created form allows the consumer and broker to modify the material terms of the Exclusive Buyer Broker Agreement or the Showing Agreement. It is important that the parties state the date of the agreement that the parties seek to modify. There is no place for the parties to enter a property address because the original agreement may or may not be property specific. If the parties would like to make the modification property specific, they may do so by adding the property address to the other terms section of the modification form. All necessary disclosures to comply with the NAR settlement have been added to the modification form.
FREE Webinars: Understanding Buyer Broker Agreements
Revised Showing Agreement (SA-4)
Click here to see redline, which shows changes required to bring this form in compliance with the terms of the NAR Settlement Agreement.
Have more questions? Join our free webinars
Join the forms update webinars and Q&A with Juana Watkins, Florida Realtors General Counsel
Brokers: Let’s Talk Buyer Broker Agreements
When: July 29, 2024
Time: 2-3:30 pm
Brokers, please join the Florida Realtors legal team for a discussion on the amended Buyer Broker Agreements to help you do business in a post-NAR settlement world.
All members: Let’s Talk Buyer Broker Agreements
When: July 30, 2024
Time: 10-11:30 a.m.
Please join the Florida Realtors legal team for a discussion on the amended Buyer Broker Agreements to help you do business in a post-NAR settlement world.
Check the Florida Realtors® Settlement page for more details.
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