Slides 1-5

The updates to the residential agreement to buy or sell were discussed, focusing on specific changes. The removal of fields for firm names, clarifying date references, and updating the electronic notice authorization were highlighted. The changes aim to streamline the form, clarify language, and ensure clarity in electronic communication and document handling. Removing unnecessary wording and clarifying terms benefit both licensees and clients in understanding the contract. Now that we've talked about why these updates matter for your practice, let's shift our focus to the contract itself. In this next section, we'll walk through the specific changes to the residential agreement to buy or sell and highlight where you'll see the difference from prior versions. As we go through the form, remember to always verify that you're using the most current version by checking the revision date at the bottom of each page. Even small updates, such as sections being moved or added, can affect how a contract is explained and how your clients understand it. Slide one, you'll notice that the fields for the listing firm name and selling firm name have been removed from the residential agreement to buy or sell. This is a formatting change to the form itself and does not change any agency relationships or how representation is established. On slide two, you'll notice that the word day has been removed from the date reference in the agreement. While this is a small change, it helps clarify how dates and timeframes are calculated within the contract. On slide three, we're looking at updates to the electronic notice authorization section. In the buyer authorization portion, the words and the seller's agent have been added. In the seller authorization section, the words the buyer's agent has been added. All other wording has been removed, making this paragraph more concise and easier to read. The section now clearly instructs that all notices and communications are to be delivered electronically. It also provides notice that electronic signatures and electronic documents will be treated as original, including any addenda or modifications. Slide four gives us a clean version of the electronic notice authorization. This streamline version makes it easier for licensees and clients to understand how electronic notices, signatures, and documents will be handled throughout the transaction. On slide five, you'll notice that on line 16, the words associated hardware have been removed and the language now reads all installer hardware. This clarifies what items are included and helps reduce misunderstandings between buyers and sellers.