Your subscription gives you exclusive access to forms that you can use at any time and that are updated each year. In addition, you have access to a comprehensive list of more than 300 commercial and residential clauses. In the hope of resolving this issue, the Committee revised the text of Sections 3 A ( 1) and 3 (b) (1). An order request has been added to the empty part of the form in which the commission is inserted – “Commission as stated in MLS® information.” The first relates to the e-mail notification clause. When the FIRST introduction by the OREA, the clause entitled “Sending documents and communications by e-mail” could be included in Schedule A of standard purchase and sale agreements. This is no longer necessary because the following forms now contain this clause: Get even more file management features with the standard OREA form via RealtiWeb. You can save the information with your files, return it, reproduce forms and insert clauses more easily into calendars. The information can then be used in other parts of the RealtiWeb file. Please be careful if you use e-mails to distribute documents and messages. For more information, see www.oreablog.com/2011/09/youve-got-e-mail.
A second issue that was addressed by the committee concerns the ownership of information, such as brochures and other documents that are listed and distributed in a list. These documents may have been prepared by other parties. The real estate authorities have expressed doubts about the authority or authorization to distribute this material. As a result, the Committee revised the “Use and Dissemination of Information” clause in the following forms: the revised 2012 standard forms addressed several important issues raised by REALTORS® and real estate managers. The forms are published in the “Members” section on the OREA website (www.orea.com). There have been anomalies. The list agreement stipulates, for example, that cooperating brokerage receives XX%. If Form 320 is completed, another amount is added. No one notices the discrepancy until it is time to pay the commission. A third edition concerns Form 320: confirmation of cooperation and representation, which confirms the amount of commission to be paid by the brokerage company to the co-operated brokerage company. All you need to do is sign up for LDD and pay the annual subscription fee of $80.00 plus taxes. You can then frequently access standard forms for the remainder of the calendar year in which you paid the fee.
Find out more here. Finally, due to data protection requirements, the Committee added a disclaimer in the form of 260: Resident Market Comparison Guide. Stay tuned for a future blog where we`ll check the standard clauses.