Commercial Forms: Feedback Requested

PAR is gathering member feedback on revisions made to four commercial standard forms. The recommended revisions are the result of PAR’s Commercial Forms Task Force, which was appointed last fall to provide an opportunity for members who engage in commercial transactions to review those forms to ensure they reflect today’s marketplace. While there have been some updates to commercial forms over the years, the full forms library has not had a comprehensive review in years, so the intent of the current task force is to systematically look at all of the commercial forms. 

The task force divided the forms into two batches: one focused on sales-related forms and the other on leasing, property management and miscellaneous. The task force members reviewed the forms line by line during their nearly 15 meetings. 

The task force is gathering feedback on the revised sales-related forms prior to PAR’s Spring Business Meetings in June, so they can review those suggestions and make any changes that they believe are necessary before presenting the finalized draft forms to the Standard Forms Committee for approval. They will review other commercial forms later.  

Task force members want to ensure that input is received from commercial practitioners throughout the state. There have been substantial changes made to the forms since it has been a while since they were reviewed. 

The forms available in draft form are: 

1. Agreement of Sale for Commercial Real Estate – Form ASC
2. Commercial Buyer/Tenant Agency Contract – Form CBAC 
3. Commercial Property Information Sheet – Form CPI 
4. Listing Contract – Exclusive Right to Sell and/or Lease Commercial Property – Form XLSC

Commercial practitioners can log into PARealtors.org and view the draft forms here. Feedback can be submitted in the form at the bottom of the webpage and it’s encouraged to submit feedback by May 20 for the task force to consider before the Spring Business Meetings. 

Readers will see different colors throughout the forms. Red text is new language that has been added to the forms. Blue text is language that already existed in the form and has been moved. The task force is asking for feedback on the substance of the changes or for comments on things that readers believe should have been changed. There’s no need to provide feedback on things like typos, formatting and line number errors, as those will be addressed in the final reviews prior to publication. 

PAR member Dominic Janidas, CCIM, is chairing the Commercial Forms Task Force. He brings an extensive background in both residential and commercial real estate and served as 2022 president of the Certified Commercial Investment Member (CCIM) PA/NJ/DE Chapter. 

Members selected to serve on the task force represent the 10 districts and have experience in different markets, brokerage models and levels of commercial experience to represent every perspective. 

The Commercial Forms Task Force members have worked incredibly hard and accomplished an impressive amount of work in the past several months.  

“I’m incredibly proud of this group. The amount of time, detail and thought that’s gone into these forms, line by line, has been nothing short of impressive, and certainly a showcase of the dedication our task force members have to our membership at large. This wasn’t surface-level work, this was roll-your-sleeves-up and get it right, work,” Janidas says. 

He adds that the task force volunteers are helping create clarity, consistency and better tools for commercial practitioners across the commonwealth, stressing the importance of moving the industry forward. Prioritizing commercial real estate is important to both commercial Realtors® and to the industry as a whole.