Broker Preview: Standard Forms Update

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 Letters	Form Name	Release Date
Guidelines	2024 Forms Update Comprehensive Guidelines	July 1, 2024
ASC	Agreement of Sale for Commercial Real Estate	Aug. 1, 2024
ASR	Standard Agreement for the Sale of Real Estate	Aug. 1, 2024
ASMH	Standard Agreement of Sale for a Manufactured Home on Leased Land	Aug. 1, 2024
ASNC	Standard Agreement for the Sale of New Construction	Aug. 1, 2024
ASVL	Standard Agreement forthe Sale of Vacant Land	Aug. 1, 2024
BAC	Buyer Agency Contract	Aug. 1, 2024
BFA	Broker’s Fee Agreement	Aug. 1, 2024
CAS	Compensation Addendum to Agreement of Sale	Removed from library on Aug. 1, 2024
CBAC	Commercial Buyer/Tenant Agency Contract	Aug. 1, 2024
CBC	Cooperating Broker Compensation Agreement	Aug. 1, 2024
CBCR	Cooperating Broker Compensation Agreement for Rentals	Aug. 1, 2024
CLC	Change to Listing Contract	Aug. 1, 2024
CTA	Change in Terms Addendum to Agreement of Sale	Aug. 1, 2024
MOS	Multiple Offer Worksheet	Aug. 1, 2024
NBA	Non-Exclusive Buyer Agency Contract	Aug. 1, 2024
NPC	Notice of 2024 Policy Changes	Aug. 1, 2024 (new)
SEC	Seller’s Estimated Costs	Aug. 1, 2024
SRP	Seller’s Reply to Purchase Offer	Aug. 1, 2024
TAC	Exclusive Tenant Agency Contract	Aug. 1, 2024 (new)
TLC	Transaction Licensee Contract	Aug. 1, 2024
XLR	Exclusive Right to Rent Real Property	Aug. 1, 2024
XLS	Exclusive Right to Sell Real Estate	Aug. 1, 2024
XLSC	Exclusive Right to Sell and/or Lease Commercial Property	Aug. 1, 2024

Other Resources

• 2024 Forms Update Comprehensive Guidelines
• facts.Realtor
• JustListed: Rules for Using PAR Standard Forms