It's critical to stay up to date on regulatory revisions in the ever-changing real estate industry. The following is a summary of the most current HAR (Houston Association of Realtors) regulation revisions that any buyer, seller, or real estate agent should be aware of:

Key Changes:

• Written Agreement Requirement: Either a signed Residential Buyer's Representation Agreement or another written agreement is required before any property is shown, in person or virtually. All parties concerned are protected and clarity is ensured.

• Payment Offers to Buyer's Agent: It is now necessary to notify the Buyer's Agent of any compensation offers outside of the MLS platform. The purpose of this modification is to improve real estate transaction transparency and expedite procedures.

• New MLS Field for Seller Contributions: To convey seller concessions or contributions toward buyer expenses, a new MLS field will be implemented. Buyers have more freedom to choose how to use these perks, though, as their contributions are not linked to broker fees.

Action Steps:

Ensure you’re prepared for these changes by reviewing and updating essential forms and templates:

1. Residential Real Estate Listing Agreement, Exclusive Right to Sell (TXR 1101)

2. Residential Real Estate Listing Agreement, Exclusive Right to Lease (TXR 1102)

3. Farm and Ranch Real Estate Listing Agreement, Exclusive Right to Sell (TXR 1201)

4. Named Exclusions Addendum to Listing (TXR 1402)

5. Exclusive Agency Addendum to Listing (TXR 1403)

6. Amendment to Listing (TXR 1404)

7. Representation Disclosure (TXR 1417)

8. Residential Buyer/Tenant Representation Agreement (TXR 1501)

9. Amendment to Buyer/Tenant Representation Agreement (TXR 1505)

10. General Information and Notice to Buyers and Sellers (TXR 1506)

11. Residential Buyer/Tenant Representation Agreement (TXR 1507)

12. Independent Contractor Agreement for Sales Associate (TXR 2301)

13. Compensation Agreement Between Broker and Owner (TXR 2401)

14. Compensation Agreement Between Brokers (TXR 2402)

15. Referral Agreement Between Brokers (TXR 2405)

16. Addendum Regarding Broker Compensation (TXR 2406)

Conclusion:

Staying informed and proactive is key in navigating these regulatory changes. You may guarantee more seamless transactions and provide your clients with greater service in the ever-changing real estate market by being aware of and responsive to these updates.

For further details and updates, visit har.com/reality.

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