Texas REALTORS® revised forms and created new forms to comply with rule changes related to the NAR settlement. Last week, the association updated and added many FAQs about these changes in the following categories:
- Addendum Regarding Brokers’ Fees (TXR 2406)
- Buyer/Tenant Representation Agreements
- Compensation Agreement Between Broker and Owner (TXR 2401)
- Compensation Agreement Between Brokers (TXR 2402)
- Intermediary & Unrepresented Buyers
- Listing Agreements
- NAR & MLS Rule Changes
You can also visit the NAR Settlement & Your Business page for more resources related to settlement.
Why not just issue revised forms providing for blanks to fill in the appropriate arrangement? All these various suggestions are sure to confuse lots of brokers.
Why aren’t the forms in this e-mail?
What if buyer refuses to sign showing agreement?
Then they aren’t worth working with
Under Intermediary there is absolutely no representation. If one agent is assigned to both seller and buyer, all the agent can do is convey messages between the two parties. If one agent is assigned to the seller and another to the buyer, the agent may give opinions and advice, but the agents may not provide any negotiating assistance for either party. There are approximately eight states that do not permit intermediary or dual agency. Texas needs to no longer allow intermediary. Many agencies like intermediary because it helps them keep both sides of the commission. One TAR attorney, at one… Read more »