C.A.R. UPDATES | NAR UPDATES | CRMLS UPDATES
Be prepared for major changes in Real Estate transactions and buyer representation that roll out this summer.
Updated July 31st, 2024.
Why will the Practice Change on August 17, 2024?
PSAR, CAR, and NAR offer educational resources to Realtors that target their need to quickly learn about policy and procedural changes and how to conduct business in the real estate marketplace after August 17 of this year. (Note: NAR or CAR login is required to access many of these member benefits)
The post-settlement contracts are finalized and Michael Shenkman is conducting a series of classes to explain the use of the new contracts from both sides of a transaction.
In this three-part series, Mr. Shenkman explains how the post-settlement changes integrate with the form groups (BRBC, RLA, RPA) in different stages of the real estate process. Classes will be held at PSAR's Central Office. August 13th: BRBC | August 15th: RLA | August 20th: RPA
Get up to speed on C.A.R. forms updates and how to utilize the revised versions in your business transactions.
CAR Town Hall Meetings (Recording Available)
CAR Form Training Free for members use code FORMS49 (Register Here)
C.A.R. New Forms & Business Practice Resources (Updated August 9, 2024)
- Forms and resources
- News and Statements
- Legal Presentations & Townhalls
- Courses & Training Video
- Designated Email Address for Forms Questions: july2024forms@car.org
July 10, 2024 Forms release List of new & revised FORMS RELEASE:
(note: items with an asterisk indicate new forms)
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- Broker Compensation Advisory (BCA)
- Buyer Financial and Personal Information (BFPI)*
- Buyer Identification of Preferences and Priorities (BIPP)*
- Buyer Material Issues for a Specific Property (BMI-SP)*
- Buyer Representation and Broker Compensation Agreement (BRBC)
- Cancellation of Buyer Representation (COBR)
- Modification of Terms – Buyer Representation Agreement (MT-BR)*
- Modification of Terms – Listing Agreement (MT-LA)*
- Multiple Listing Service Addendum (MLS)*
- Notice of Broker Involved Properties (NBIP)
- Open House Visitor Non-Agency Disclosure and Sign-In (OHNA-SI)*
- Property Showing and Representation Agreement (PSRA)*
- Residential Listing Agreement (RLA)
- Residential Purchase Agreement (RPA)
- Seller Payment to Buyer’s Broker (SPBB)
- Tenant Representation and Broker Compensation Agreement (TRBC)*
- Other listing agreements and purchase agreements have also been conformed to the changes to the RLA and RPA, respectively.
Latest updates from NAR
Fine-tune your knowledge and skill set by attending a FREE Accredited Buyer's Representative (ABR) class.
If you missed the live PSAR l ABR class, the NAR offers two free alternatives:
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- Schedule a live instructor-led online ABR class. Select <ABR Designation> as the course title, and <Instructor Led> as the Delivery Format here. This usually paid-for class is FREE until the end of 2024; the cost returns to $110 in 2025.
- Take a Free self-paced 12-hour online course. Access it here.
Latest updates from CRMLS
- CRMLS resources, policy changes, Concessions Field, and a video from the CRMLS General Counsel: More info.
- Compensation is to be removed from CRMLS on August 13th.
- A summary of information about the NEW CRMLS Concessions Field from PSAR is here.
- CiP Field
- As of 7/30, the Concessions in Price (CiP) fields containing the ($) and (%) options have been removed from all CRMLS systems. The only field that remains is the "Seller Consider Concessions? Y/N", and this field will continue to be an option for listing input going forward.
- SUPER IMPORTANT FAQ
- It’s a one-stop shop for tying a lot of the floating pieces together. Some scenarios are included! HERE
Live Webinar with Art Carter & Ed Zorn - CRMLS Industry Updates & MLS Changes
Join CRMLS CEO Art Carter and VP & General Counsel Ed Zorn for a special update about the new world of real estate. Registration is free but space is limited, so sign up now!
- Tuesday, August 20th | 2:30pm-3:30pm | REGISTER
These topics and more:
-Important rule changes effective 8/13
-New violations and fines
-Use of new/revised C.A.R. forms
-How to navigate common transaction scenarios