Brokerage Relationships #110491-Disclosure in Current Forms

Disclosure in Current Forms

Pdf Summary

Brokers and agents are reminded of the disclosure requirement set forth by the NAR settlement and related practice changes for listing and buyer agreements signed before August 17. A sample compensation disclosure statement is provided for agreements lacking this disclosure. For agreements made on or after August 17, MLS participants must conspicuously disclose that compensation is negotiable and not fixed by law in all agreements. Additional information on the settlement agreement and practice changes can be found at facts.realtor. The Compensation Disclosure Statement is to be dated and included in all listing and buyer agreements post-SETTLEMENT DATE. The disclosure states that a buyer agent's or seller agent's compensation is open to negotiation and not mandated by law.

Keywords

NAR settlement

disclosure requirement

compensation disclosure

listing agreements

buyer agreements

MLS participants

negotiable compensation

practice changes

settlement agreement

facts.realtor