The Risk Management Committee of the Greater Baton Rouge Association of REALTORS® has been working diligently to make amendments to many of the forms in our library to bring those into compliance with the requirements of the NAR Settlement. These forms are NOT required forms, nor is there any obligation that these specific forms be used moving forward. You may use any forms you like, provided that those forms are compliant with the terms of the settlement and state law. For more specific details on those requirements, please see our Guide to NAR Settlement and the MLS 7.1.24, or consult https://facts.realtor
You will also see in the list below a several forms that are in the process of being updated or typeset. When completed, links to those forms will be activated here as well.
Released:
- Exclusive Buyer Brokerage Services Agreement
This agreement is largely based on the Sample Buyer Broker Agreement released by LR in 11/23 and may appear substantially similar. There are however some significant differences. This version contains disclosures necessary to ensure compliance that are absent in the 11/23 version. It also includes an expanded compensation section that creates more transparency for buyer -clients around what precisely their obligations are under the agreement given the different possible scenarios or outcomes around a “Buyer Agent Payment” or “BAP” which may or may not be available in any given transaction. It also includes further acknowledgements and disclosures as well as some modifications that the committee felt were important to make with regard to usability of the form. Additional sample Buyer agreements from Louisiana REALTORS are provided below. - Amendment to the Exclusive Buyer Brokerage Service Agreement
This amendment to the Buyer Brokerage Services Agreement allows for modifications of terms to the above agreement. - GBRAR Listing and Marketing Agreement 08-2024
This agreement updates sections relating to cooperative offers of compensation to provide greater clareity around the amounts of compensation that are guaranteed to the Listing Broker while addressing several options available from the seller regarding “BAP” or Buyer Agent Payments.
- Amendment to the (Pre-Settlement) Listing and Marketing Agreement
If you have listings that are still using the old listing agreement, you may continue to do so, however you are required to make additional disclosures to that agreement that “Commisions are fully negotiable and not set by law . . .” This amendment allows you to either a) keep the original terms the same and provide the disclosure or b) update the compensation section of the agreement to mirror the terms in the new Listing and Marketing Agreement (above).- Do you have to amend your listing agreement? If you were using the previous GBRAR Listing Agreement it is NOT REQUIRED that you amend the listing agreement, but you MUST make the additional disclosure that “Commissions are negotiable and not set by law.” MLS Participants MUST make this disclosure. Active agreements can either be amended or a separate disclosure can be provided to satisfy the requirement. You should check with your Broker on their recommended practice for handling their listing agreeements.
- Termination of the Residential Listing And Marketing Agreement
This document provides for termination of a listing agreement. - Compensation Agreement Between Listing and Selling Broker
This agreement can be used to document the agreement between a Listing Broker who is offering to pay cooperative compensation to a Buyer’s Broker.
Additional Sample Buyer Broker Agreements are also available from the Louisiana REALTORS® Association including a “short form.” Click here to acces those forms
In Legal Review:
In Layout:
- Amendment to the Residential Listing And Marketing Agreement
Still In Queue:
- Unrepresented Buyer Disclosures
- Single Client Listing of Property
- Residential Lease Listing Agreement
- Residential Lease Agreement
- Short-Form Buyer Rep Agreements (This and some additional forms are currently scheduled for release by Louisiana REALTORS® sometime in Mid-July)
