These new forms aim to provide maximum flexibility to compensation arrangements in the transaction and are designed to allow the participants in a real estate transaction to memorialize compensation arrangements.
Form 1: Compensation Agreement – Seller to Buyer’s Broker (CASB-1). This new form is a compensation arrangement in which the seller agrees to compensate the buyer’s broker for procuring a buyer for a listed property. CLICK HERE TO PREVIEW CASB-1
Form 2: Compensation Agreement – Seller’s Broker to Buyer’s Broker (CABB-1). This agreement memorializes any agreement between the brokers. The seller’s broker, also known as the listing broker, to compensate the buyer’s broker for the listed property. This agreement is property specific, and the arrangement between the brokers should relate to the listed property, not serve as a blanket agreement between the brokerages. CLICK HERE TO PREVIEW CABB-1
Form 3: Modification to Compensation Agreement – Seller to Buyer’s Broker. This form allows the parties to make changes to any material terms of the underlying compensation agreement between the seller and the buyer’s broker. CLICK HERE TO PREVIEW MCA-2
Form 4: Modification to Compensation Agreement – Seller’s Broker to Buyer’s Broker. CLICK HERE TO PREVIEW MCA-1
NOTE: Once all our forms vendors have uploaded/published the new forms, these forms will no longer be available on the Florida Realtors website.
Questions? Call the Florida Realtors Legal Hotline, 407-438-1409
What’s next:
Coming in July:
- Amended Buyer Broker Agreement
- Amended Showing Agreement
- Amended Retainer Agreement
- Modification to Buyer Broker Agreement
- Release of amended Listing Agreements and several other forms. One of those forms will address what you do with listings and buyer broker agreements that are in effect on August 17 that do not have the required language for settlement compliance.
Coming in October: Condo riders will change October 1, not July 1.
