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As our industry undergoes major shifts, C.A.R. has prepared several resources designed to provide you with answers to some commonly asked questions and guidance on the latest updates to how you do business.
 

Updated Business Practices

REALTOR® Value

An Important Message on Forms Release (updated June 24, 2024)

Every June, C.A.R. updates its standard forms to reflect the latest legal requirements and best practices in real estate transactions. This year, of the 67 new and revised forms to be released on June 25, 21 of them are related to the changes in business practices required by the NAR settlement. I’m writing to inform you that most new and revised C.A.R. standard forms will be available on June 25. Out of an abundance of caution, C.A.R. has postponed the release of some forms relating to practice changes under the NAR settlement pending the receipt of additional information, and C.A.R. will be releasing those additional forms and providing relevant forms education prior to August 17.

C.A.R. is continuing to review not just the NAR settlement but also Department of Justice (DOJ) statements to the industry, as well as feedback from our members, and this decision is being made from an abundance of caution. C.A.R. has received a formal inquiry about these forms from the DOJ, and the organization requires additional time to consider the DOJ’s concerns.

C.A.R. forms have been the gold standard for conducting California real estate transactions in a systematized, ethical, and transparent way for decades, and we are working diligently to create the next set of forms that will continue to protect our members and serve consumers.

 

We are in the midst of significant changes within our industry and, as such, there will be times when we have to adjust our plans, our timeframes, and even our expectations. As we’ve done, we will continue to keep you, our valued members, informed every step of the way.

 

Melanie Barker
C.A.R. President



Legal Resources​​

Webinars

Legal Live Webinars​​

  • C.A.R.’s Legal Live Webinars are online presentations conducted by C.A.R. attorneys typically on the second Tuesday of every month. Hear about legal developments and answers to common questions. Watch live or from a recorded post. Legal Live Webinars are offered as a free member benefit. (Continually updated) - (must be signed in to access)

Training

Latest Updates 

May 10, 2024

In anticipation of the upcoming practice changes resulting from the NAR settlement, C.A.R. is releasing a series of short articles about C.A.R.’s Buyer Representation and Broker Compensation Agreement (C.A.R. Form BRBC). In this article, we discuss the differences between exclusivity and non-exclusivity when using the BRBC. See The BRBC: Exclusive or Non-exclusive article.

 

May 3, 2024

NAR today shared key details of the required practice changes under the industry Settlement Agreement. These practice changes result in revisions to the MLS policy handbook which are summarized below. The revised policies will go into effect on August 17, 2024. A more detailed explanation of each practice change is available on facts.realtor

The settlement requires NAR to implement the practice changes no later than the date of class notice. Through the preliminary settlement approval process, it’s been determined the earliest date of class notice is August 17, 2024. NAR is announcing these important changes now to ensure NAR members and MLSs have ample time to prepare.

MLSs that have opted into the settlement agreement have until September 16, 2024 to implement the necessary policy changes and to be considered released parties, as provided in the relevant appendices they executed. However, NAR’s accelerated rule change process gives MLSs three months to adapt. In accordance with mandatory NAR policy, REALTOR® MLSs must implement the practice changes by August 17, 2024. NAR recommends all opting-in MLSs implement the practice changes by this date.

 

Over the coming days, NAR will discuss these changes in more detail and look for members’ questions and feedback. In the interim, NAR’s FAQ has been updated to reflect the effective date and provide additional detail on implementation. NAR is committed to working together to navigate these adjustments and providing as much guidance to its members as possible. As further details emerge, additional materials will be shared and posted to facts.realtor.

 

May 1, 2024

4 Things to Know About the New Broker Compensation Advisory Form

 

In mid-May, C.A.R. will release a new form, the Broker Compensation Advisory (C.A.R. Form BCA). This form was created to help agents have transparent discussions with their clients about broker compensation. See the form below under Resources.

Additional Support 

Buyer's Agent Resources

As real estate brokerage models change, there is more reason now than ever before for a real estate licensee working with a buyer to document that relationship, including the possibility of payment. Learn about buyer representation agreements including the Buyer Representation and Broker Compensation Agreement (C.A.R. Form BRBC) and their use in real estate transactions.

Visit the Buyer's Agent Resources page for more.


National Association of REALTORS® Competition.Realtor Website

For a comprehensive overview of and many resources for how REALTORS® and local MLS broker marketplaces benefit consumers, NAR prepared a collection of FAQs, videos, and other guidance as well as updates on the Burnett v. NAR et al verdict and ongoing lawsuits.

Please visit Competiton.Realtor to access these resources.  

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