ZOOM: The *NEW* Forms You Need to Know
Monday, July 29, 2024 (1:00 PM - 4:00 PM) (CDT)
Description
* This is a VIRTUAL course held via ZOOM *
*IF THERE IS NOT A REGISTER BUTTON, COURSE IS FULL*
Course #: 46627 Provider # : #1, TXR Hours: 3 CE
Instructor: Melissa Hailey
Cost: $0 for CCAR Members; $50 for Non CCAR Members
Monday July 29, 2024 1:00PM-4:00PM
CCAR Cancellation and Attendance Policy: https://www.ccar.net/pd-attendance-policy/
Guidelines for Zoom Classes: https://www.ccar.net/zoomguidelines/
To comply with NAR’s upcoming MLS rules changes, the Texas REALTORS® Legal Department and Residential Forms Task Force updated 16 forms and created 3 new ones. While the forms will not be available for use until June 24, drafts are available for review.
See drafts of the updated forms.
All MLSs must be in compliance with NAR’s rule changes by August 17. Making the forms available June 24 will allow you to use them while MLSs are transitioning their platforms. Any updated and new forms can be used with an MLS that has not changed its rules or fields.
Updated or New Forms:
Updated Forms
- TXR 1101 Residential Real Estate Listing Agreement, Exclusive Right to Sell
- TXR 1102 Residential Real Estate Listing Agreement, Exclusive Right to Lease
- TXR 1201 Farm and Ranch Real Estate Listing Agreement, Exclusive Right to Sell
- TXR 1402 Named Exclusions Addendum to Listing
- TXR 1403 Exclusive Agency Addendum to Listing
- TXR 1404 Amendment to Listing
- TXR 1412 Seller’s Authorization to Disclose and Advertise Certain Information (updated name)
- TXR 1417 Representation Disclosure
- TXR 1501 Residential Buyer/Tenant Representation Agreement – Long Form (updated name)
- TXR 1505 Amendment to Buyer/Tenant Representation Agreement
- TXR 1506 General Information and Notice to Buyers and Sellers
- TXR 2201 Residential Leasing and Property Management Agreement
- TXR 2301 Independent Contractor Agreement for Sales Associate
- TXR 2401 Compensation Agreement Between Broker and Owner (updated name)
- TXR 2402 Compensation Agreement Between Brokers (updated name)
- TXR 2405 Referral Agreement Between Brokers
New Forms
- TXR 1507 Residential Buyer/Tenant Representation Agreement – Short Form. A one-page version of TXR 1501, this form can be used for full or showing service only representation of a buyer or tenant in residential transactions.
- TXR 2406 Addendum Regarding Broker Compensation. This form is designed to be used as an addendum to the TREC residential contracts (except the Farm and Ranch Contract) to record payment of buyer’s broker’s fees, including from a seller.
- TXR 2701 Amendment to Representation Agreement (temporary). This amendment can be used with listing and buyer/tenant representation agreements to allow brokers under a current representation agreement to meet the requirements of the NAR settlement—including the required disclosures and authorizations—that are required beginning August 17. This form is temporary and will be pulled down at the appropriate time.
This course reviews the most widely used TREC and TAR forms needed to conduct real estate transactions. Included are various sales contracts and a wide range of addendum. This course teaches the proper use and completion of these forms and provides a comprehensive view of the types of contracts available for use in real estate transactions. It will also cover how to handle updates and changes to contract forms, along with other related documents and addenda. The intent of tis course is to provide insight on the importance of using correct form(s) to ensure a successful transaction for the agent and client. |
* This course fulfills the Texas Real Estate Commission contract course requirement
An email containing the Zoom link will be provided a day before the class. Prior to class, attendees will receive an email with information on setting up a Zoom account and links to class materials, if applicable. To participate in class, a functioning Web camera is necessary.
Class
Mandatory CE