Broker Preview: Settlement-Related Changes

Understand and comply with new rules being implemented as a result of the NAR settlement. PAR Chief Legal Officer Hank Lerner and Associate Counsel Kacy Clouser discuss the terms of the settlement agreement, changes to PAR standard forms and how to implement the revised forms in your daily business.

This webinar recording is for brokers only. Encourage agents and non-broker colleagues to register for one of our all-member standard forms webinars.

Watch the Recording

Use the chapters in the video window to navigate through sections of the video.

Resources

The 2024 Forms Update Comprehensive Guidelines document is referenced throughout the webinar. It explains changes to several forms that were made as a result of the NAR settlement agreement and answers many frequently asked questions. Please review these guidelines thoroughly BEFORE contacting the PAR Legal Hotline with any questions.

Standard Forms Updates

Call LettersForm NameRelease Date
Guidelines2024 Forms Update Comprehensive GuidelinesJuly 1, 2024
ASCAgreement of Sale for Commercial Real EstateAug. 1, 2024
ASRStandard Agreement for the Sale of Real EstateAug. 1, 2024
ASMHStandard Agreement of Sale for a Manufactured Home on Leased LandAug. 1, 2024
ASNCStandard Agreement for the Sale of New ConstructionAug. 1, 2024
ASVLStandard Agreement forthe Sale of Vacant LandAug. 1, 2024
BACBuyer Agency ContractAug. 1, 2024
BFABroker's Fee AgreementAug. 1, 2024
CASCompensation Addendum to Agreement of SaleTo be removed Aug. 1, 2024
CBACCommercial Buyer/Tenant Agency ContractAug. 1, 2024
CBCCooperating Broker Compensation AgreementAug. 1, 2024
CBCRCooperating Broker Compensation Agreement for RentalsAug. 1, 2024
CLCChange to Listing ContractAug. 1, 2024
CTAChange in Terms Addendum to Agreement of SaleAug. 1, 2024
MOSMultiple Offer WorksheetAug. 1, 2024
NBANon-Exclusive Buyer Agency ContractAug. 1, 2024
NPCNotice of 2024 Policy ChangesAug. 1, 2024 (new)
SECSeller's Estimated CostsAug. 1, 2024
SRPSeller's Reply to Purchase OfferAug. 1, 2024
TACExclusive Tenant Agency ContractAug. 1, 2024 (new)
TLCTransaction Licensee ContractAug. 1, 2024
XLRExclusive Right to Rent Real PropertyAug. 1, 2024
XLSExclusive Right to Sell Real EstateAug. 1, 2024
XLSCExclusive Right to Sell and/or Lease Commercial PropertyAug. 1, 2024

Other Resources