Recording (4)

The presentation discusses buyer brokerage compensation, emphasizing the importance of completing all blanks in the agreement, even if no compensation is to be paid. The amount is to be disbursed to the buyer's broker from the seller's sale proceeds, with any shortfall covered at closing. It also highlights that commission is negotiable, and the buyer's broker cannot receive more than agreed upon. Various sections have been relocated in the agreement for better organization and clarity. Licensees are reminded of their role in guiding clients through the agreement to ensure understanding, compliance, and risk reduction. Slide 17 introduces a new paragraph addressing buyer brokerage compensation. Compensation may be stated as either a dollar amount or a percentage of the sales price and there's a blank provided in the agreement that must be completed. It's important that no blanks are left open. Even if no buyer brokerage compensation is to be paid, a zero should be entered into the blank to clearly reflect that's the intent. Any buyer brokerage compensation is to be disbursed to the buyer's broker at closing from the seller's sale proceeds. If the amount paid from the sale proceeds is insufficient, any additional funds must be provided at closing. This paragraph also reinforces that commission is negotiable and that the buyer's broker may not receive compensation from any source that exceeds the amount or rate agreed upon in the buyer agreement. Slide 18 shows us a clean version of the buyer brokerage compensation paragraph as it appears in the agreement. Slide 19 reflects that the deposit addendum has been moved into the list of the addenda to be attached, improving organization consistency. Slide 20 shows the mold-related hazard notice, offender notification, flood hazard, and choice of law sections have been relocated from page 9 to page 10 with updated website references. Slide 21 shows the deadline section has been relocated from page 9 to page 11 with no substantive changes. To wrap up this section, it's important to remember while many of these changes to the residential agreement, to buyer-seller organization, or clarifying in nature, they still have a real impact on licensee practice. As licensees, your role is not to just complete the agreement, but to guide your clients through it in a way that supports understanding, compliance, and risk reduction. Taking the time to recognize and explain these changes helps protect your clients and your license.