Friday Video Update

Following up on last week’s video, Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons discusses what happens when a Buyer Broker is unavailable to show their clients property within a certain timeframe and the broker they choose to step in works at a different firm. Annie explains why a Buyer Brokerage Service Agreement (BBSA) is needed for each broker in this situation and how this situation can affect broker compensation.

In this week's video, Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons talks about what happens when a Buyer Broker goes on vacation or is just plain unavailable to show their clients property in a certain timeframe. She answers questions about having another broker show your client properties and how having another broker show listings to your clients can affect your Buyer Brokerage Service Agreement (BBSA) with that client.

Tune in today as Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons discusses the disclosures that Brokers need to provide their clients in different scenarios where a Broker is sharing a portion of their compensation with the broker or firm on the other side of the transaction. Tune in to learn what you need to let your clients know in the event your team leader is on the other side or a Finder’s fee is being paid to a Listing Broker when they refer a previously unrepresented buyer to a Buyer Broker and other situations involving cross-transaction disclosures.

Today, Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons discusses questions that have come up on the Legal Hotline: What does it mean if the seller in a transaction offers compensation to a buyer broker? Does that mean that the seller is locked into that offer of compensation? Suppose the buyer in the transaction submits a request for inspection concessions. Can the seller counter the buyer's request for concessions by modifying the prior agreement to pay compensation to the buyer’s broker? Tune in and get these questions answered.

Tune in today as Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons talks about a question she's encountered on the Legal Hotline since the new agency laws have gone into effect in Washington State; “As a Listing Broker, does my liability increase if the buyer in a transaction is unrepresented?”

Tune in today as Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons discusses a question that has come up on the Legal Hotline since the new rules regarding Buyer Brokerage Service Agreements (BBSA) have gone into effect; “Do Listing Brokers need a BBSA in place before showing property to unrepresented buyers?” and how to avoid becoming an accidental Dual Agent.

Tune in today as Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons and our 2024 President Jeff Smart discuss how to navigate a scenario where a buyer is asking their broker to share a portion of the broker's compensation with them to cover the buyer's closing costs. Learn how this situation affects your Buyer Brokerage Service Agreements (BBSA) and how to make sure that you, as a broker, don't leave a shared compensation transaction empty-handed.

In this episode of DBrief, Washington REALTORS® replays our informational webinar that was recorded live on November 21, 2024, a discussion on the increasing challenges in the residential insurance market.

In the wake of Hurricane Helene, communities across six states face massive devastation. Washington REALTORS® recently donated $25,000 to the REALTOR® Relief Foundation (RRF)—and more help is needed. State and local REALTOR® associations, like Florida, Georgia, and NC REALTORS®, are stepping up with disaster relief funds and local efforts. Northeast Tennessee REALTORS® have opened their office to collect supplies for flood victims. We urge you to make a personal donation to the RRF. Washington homeowners have benefited from RRF aid before—now is our chance to pay it forward. 100% of donations go to relief, and you can designate funds for Hurricane Helene through October 11. To donate, visit https://payment.apps.realtor/RRF/, text HeleneRelief24 to 71777

And... We're back! Join us this week for the start of a brand-new batch of legal hotline videos! Tune in today as Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons and our 2024 President Jeff Smart discuss the pitfalls that arise when the updated Form 21: Purchase and Sale Agreement (PSA) isn’t properly completed and the monetary repercussions when Form 41: Buyer Brokerage Service Agreement (BBSA) is missing, that cause brokers not to get paid in a real estate transaction.

Welcome to another installment of our Designated Broker Video Series: DBrief! This series is dedicated to keeping our Designated Broker/ Owners and industry leaders well-informed and providing you with ongoing support from the association. Tune in today as WR's Government Affairs Director, Mary Hull-Drury, and our 2024 Washington REALTORS® president, Jeff Smart, provide our legislative preview for the 2025 session. Learn about our association’s legislative goals, challenges, and opportunities in the upcoming session and get the inside scoop on our legislative agenda for 2025.

In this episode, Annie discusses the changes to Forms 40 and 40A: Commission Disbursement Agreement. These changes are important, even if you do not specifically use these forms. She also explains why you need to ensure they are correct before submitting them to escrow. Tune in to stay confident and informed!

This week, Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons continues the latest legal hotline series about implementing the revised Forms that are in place as of August 1, 2024. In this episode, Annie discusses the fact that REALTORS® are no longer allowed to filter the listings that are shown to their clients based on the compensation offered. Listen while Annie discusses what brokers can do to empower their clients to make decisions about listings without filtering.

This week, Washington REALTORS® Legal Hotline Lawyer Annie Fitzsimmons continues the latest legal hotline series about implementing the revised Forms that are in place as of August 1, 2024. In this episode, Annie discusses the changes to Form 41: The Buyer Brokerage Services Agreement (BBSA), specifically paragraph five, and how the changes to this form affect broker compensation. Listen while Annie discusses the dos and don'ts of paragraph five on the newly revised Form 41.

This week Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, continues our new legal hotline series about implementing the revised Forms in place as of August 1, 2024. In this episode, Annie discusses best practices for property listings and the importance of communication and cooperation between brokers in a transaction.

This week Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, kicks off a new legal hotline series about implementing the revised Forms that are in place as of August 1, 2024. In this episode, Annie discusses the changes to Form 41 and why brokers may need to replace Form 41 with the revised version for current clients now! Tune in to stay confident and stay informed!

This week Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, discusses the newly revised Form 21, Paragraph 17, the Addendum for Buyer Credit, and what to do when a seller offers more compensation than Buyer Broker is owed. Annie also provides some best practices in this situation so that listing brokers can ensure sellers aren’t paying more compensation than expected.

This week Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, discusses the newly revised Form 21. This newest version of Form 21 has a revision date of August 2024 and should be used by brokers immediately. There are some major changes to this form centered around documenting broker's compensation. But, not to worry, Annie and Washington REALTORS® have you covered!

Join Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, as she dispels a recent rumor circulating around the recent NAR settlement and it's ramifications for REALTOR® members who use independent MLSs like NWMLS.

This week Washington REALTORS® Legal Hotline Lawyer, Annie Fitzsimmons, talks about brokers who are members of NWMLS and an NAR MLS that want to list a listing in both MLSs and how the implementation of the NAR settlement agreement effective August of 2024 will affect this process.