C.A.R. to Release Revised Forms

July 9, 2024—On June 25, C.A.R. released 48 new and revised forms as part of its semi-annual standard forms. We informed you then that C.A.R. would postpone the release date of other forms to ensure that they met higher standards for use by members and consumers in light of the practice changes associated with the NAR settlement.

Tomorrow, on July 10, the remaining forms will be posted on www.car.org. Beginning with the release of these forms and given the significant practice-related changes facing members at this time, C.A.R. will be providing numerous training opportunities to members on the use of these forms. C.A.R. leadership and legal staff will be hosting townhall meetings beginning July 10, with additional training through August as part of an aggressive training schedule. Many of these sessions will be recorded, as well. Additionally, our online class on the new buyer representation form will be made available free of charge to members.

The forms will be released on July 24 in zipForm® and other platforms. To be in full compliance by August 17, when the mandates of the NAR settlement go into effect, it is imperative that C.A.R. members are ready to use the new forms and prepared to discuss the changes with their clients.

While we understand change is difficult, we are also in an environment that continues to shift. As your partner, C.A.R. is fully committed to adapting however necessary and communicating with you, our members, as often as needed.

C.A.R. has taken great care to create new and revised forms that are easy to understand. Standard forms are evolving documents, and we believe that these revisions not only meet the needs of the current moment but also equip our members with the best possible tools to ensure their ongoing success.

 

HELPFUL LINKS:

 

JULY 2024 FORMS RELEASE: LIST OF NEW & REVISED FORMS

(note: items highlighted in red indicate new forms)

  • 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.