REE Processes
Please check the MLS for current forms, these are given as examples and not meant to be used as they may be dated and not up to compliance.
NAR Updates
Have you checked out the changes to the BBA?
We want to make sure you get paid!
As we all know, there have been changes to the way things will operate in the Real Estate Industry, these changes are now in effect. Because of this, we now have to add updated addendums to any active ERS or BBA that you have. Agents have to do this with every active transaction.
*This does not include transactions that are currently under contract.*
– In SkySlope you can find the FILLABLE versions of these addendums.
1. Go to SkySlope “Forms”
2. Click ” Browse Libraries” at the top left of the page
3. Select your needed addendum.
You don’t need to search for them; they are near the top of the list of options.
They are titled:
” Addendum to Exclusive Buyer Broker Agreement & Agency Disclosure – UAR”
“Addendum to Exclusive Right to Sell Listing Agreement and Agency Disclosure – UAR”
4. Click “add” next to the form, then “add to file” at the bottom right of the screen
5. Add to existing file
– When starting brand new transactions, you will NOT need these ADDENDUMS, but you will need to make sure you’re using the NEW ERS or BBA. They are all up to date in SkySlope.
– The MLS will automatically remove the section in your listing that offers a buyer’s agent commission. Although, If you have any mention of BAC in your captions you need to remove it IMMEDIATELY! The fine is hefty!
Here are links to Forms that have now been updated, there are also videos explaining the changes made.
- Updated Form: Exclusive Buyer-Broker Agreement and Agency Disclosure
- Updated Form: Exclusive Right to Sell Listing Agreement & Agency Disclosure
- Updated Form: Real Estate Brokerage Payment Addendum
- New Replacement Form: Real Estate Brokerage Compensation Agreement (replaces escrow instructions form)
- New Form: Addendum to Exclusive Right to Sell Listing Agreement (this addendum modifies an existing listing agreement to be compliant with the settlement after Aug. 17.)
- New Form: Addendum to Exclusive Buyer-Broker Agreement (this addendum modifies an existing buyer-broker agreement to be compliant with the settlement after Aug. 17.)
- Proposed REPC Change: The video below highlights the proposed change to the REPC. This language has been approved by the Real Estate Commission and is awaiting approval from the Attorney General’s Office.