Are You Ready for the Aug. 17 NAR Changes?
Here’s a recap of what’s available from Florida Realtors – from new and revised forms to free educational webinars – to help you with the upcoming changes.
ORLANDO, Fla. – Your interactions with buyers and the terms of compensation between buyer and seller brokers change in 31 days. Here’s a recap of what’s available from Florida Realtors to help with the new requirements.
NAR Settlement: What You Need to Know
New & updated forms
There are four new forms:
- Compensation Agreement - Seller to Buyer's Broker
- Compensation Agreement - Seller's Broker to Buyer's Broker
- Modification to Compensation Agreement - Seller to Buyer's Broker
- Modification to Compensation Agreement - Seller's Broker to Buyer's Broker
Watch this video with Juana Watkins, Florida Realtors General Counsel, that explains the new commission forms.
Plus, four Exclusive Buyer Brokerage Agreements have been revised and simplified to improve their usability and bring them into compliance with the National Association of Realtors® settlement agreement.
- Exclusive Buyer Brokerage Agreement, Consent to Transition to Transaction Broker (Click to see redline version)
- Exclusive Buyer Brokerage Agreement, No Brokerage Relationship (Click to see redline version)
- Exclusive Buyer Brokerage Agreement, Single Agent (Click to see redline version)
- Exclusive Buyer Brokerage Agreement, Transaction Broker (Click to see redline version)
These eight forms are available on Form Simplicity.
Learning resources
Free webinar: "Buyer Representation – What You Need to Know" (No CE)
Date: Tuesday, August 6, 2024
Time: 1-2:30 p.m. ET
CLICK HERE TO REGISTER
Date: Tuesday, September 17, 2024
Time: 9:30-11 a.m. ET
Registration information will be available soon at floridarealtors.org/NAR-Settlement
In this webinar you will learn:
- How we got to where we are and why
- What is required as of 8/17
- Understand Florida “agency relationships” and Buyer Representation
- Forms: Buyer Broker Agreements, New Compensation Agreements, Showing Agreements
Free Webinar: Understanding Buyer Broker Agreements and How to Implement Them (3 CE hours)
Date: Tuesday, October 22, 2024
Time: 9 a.m.-noon ET
CLICK HERE TO REGISTER
Date: Tuesday, November 5, 2024
Time: 9 a.m.-noon ET
CLICK HERE TO REGISTER
After taking this class students will be able to:
- Explain the importance of working exclusively with a buyer
- Determine which agreement is appropriate when
- Understand how written agreements protect both the customer and the brokerage
- Recognize what an exclusive representation means when working with a buyer
- Comprehend what types of agency relationships are authorized with an exclusive buyer-broker agreement
- Clarify to a buyer the importance of the agreement and how to present it
Save the date
Forms Update webinar and Live Q&A with Juana Watkins, Florida Realtors General Counsel
Date: Tuesday, July 30, 2024
Time: 10-11:30 a.m. ET
Registration information will be available soon at floridarealtors.org/NAR-Settlement