Exciting news! Florida Realtors® has released four new buyer compensation forms and shared updates related to the NAR settlement.
The newly introduced forms aim at providing flexibility in compensation arrangements during real estate transactions:
- Compensation Agreement - Seller to Buyer's Broker (CASB-1): This form allows the seller to compensate the buyer's broker for procuring a buyer for a listed property. Preview CASB-1
- Compensation Agreement - Seller's Broker to Buyer's Broker (CABB-1): This agreement outlines the compensation arrangement between the listing broker and the buyer's broker, specific to the listed property. Preview CABB-1
- Modification to Compensation Agreement - Seller to Buyer's Broker (MCA-2): This form is used to modify any material terms of the existing compensation agreement between the seller and the buyer's broker. Preview MCA-2
- Modification to Compensation Agreement - Seller's Broker to Buyer's Broker (MCA-1): Preview MCA-1
These forms are now available for download on Form Simplicity (login required).
For more details and to access these forms, please click here.
NAR Settlement: What You Need to Know
The National Association of Realtors® (NAR) has announced a proposed $418 million settlement agreement to resolve claims related to broker commissions from the Sitzer-Burnett verdict. This settlement includes NAR, its members, local Realtor® associations, association-owned MLSs, and brokerages with a transaction volume in 2022 of $2 billion or below. Agents affiliated with HomeServices of America and its related companies are not included in this settlement. Read the full news article.
If you have any questions, please contact the Legal Hotline at 407-438-1409.
We encourage you to stay informed and utilize these resources to navigate the latest changes in our industry.
