OREA’s popular standard forms webinar series is returning at 1:00pm on June 21st to address the topic of Creating and Using Standard Clauses. Hosts Cassandra Agnew Walker and John Burnet will once again team up to provide members with an update and refresher on the topic. Clause writing can be frustrating and clause drafting errors can … Continued
OREA has released a new four-minute tutorial to introduce members to Form #109, “Offer Presentation – Acknowledgement”. Form #109 was created to assist Realtors in confirming that an unsuccessful offer was presented. It can be used for offers for purchase and sale, as well as offers for leases or rentals. Members who value hands-on, step-by-step … Continued
In last week’s blog, we asked you how much you knew about OREA’s standard forms and invited you to take the quiz (without first referring to the actual forms, of course). The answers are noted below. How many did you answer correctly? 1. Your buyer representation agreement states 2 ½ per cent commission. The property … Continued
It can be said that standard forms are a REALTOR’S® bread and butter. There are standard forms for nearly all manner of real estate transactions, from the Agreement of Purchase and Sale (Form 100) to the Seller Customer Service Agreement (Form 201). The proper use of these forms may help prevent future litigation. How … Continued
Every year, the OREA Standard Forms Committee reviews requests and recommendations from REALTORS®, real estate boards, and other interested stakeholders regarding OREA standard forms and clauses. Based on this feedback and to keep current with the dynamic nature of real estate, the Committee has created several new forms and clauses, and revised existing forms and … Continued
The revised 2012 standard forms addressed several important issues brought forward by REALTORS® and the real estate boards. The first involves the email notices clause. When first introduced by OREA, the clause, entitled “Email Delivery of Documents and Notices,” could be included in Schedule A of the standard agreements of purchase and sale. This is … Continued
Okay, not exactly right off the presses… Revising standard forms is not an overnight process. The Standard Forms Committee met several times throughout the year to review requests and recommendations from REALTORS®, real estate boards, and other interested stakeholders. The results have been impressive. Based on the feedback and to keep current with the dynamic … Continued
The co-operating brokerage does not represent the seller, even though the brokerage may have direct contact with the seller. To ensure that members understand the legislative requirement to obtain written authority from the listing brokerage before having direct contact with the listing brokerage’s client, OREA developed Form 202, Seller Commission Agreement with Co-operating Brokerage for … Continued