Do WE Have to Get

Brokerage Agreements Signed?

Not just a handshake… Get a pen in that prospects hand!

Yes!  the changes to the Law of Agency require that you get a Brokerage Services Agreement signed!  No assuming who represents who… Get a pen in that prospects hand… not just a handshake!

There have been changes made to the Law of Agency that go into effect January 1, 2024.  Many brokers have been working with Brokerage Agreements, but now it is the law.  An agreement must be signed by both parties “as soon as reasonably practicable.”

The new law requires written brokerage services agreements, improves consumer disclosures, and provides that certain legal duties of brokers apply to all parties in the transaction.

The DOL and legislature are working on an amendment to the Law of Agency already!  There are unscrupulous brokers … Really???  There are?… That may try to have buyers sign agreements that bind them to that broker for a longer than comfortable term on the buyer brokerage agreements for buyers AND sellers.  So watch for that bill to get signed.

The 5 clockhour Class When are you an Agent covers the issues regarding the new law.  It also includes the pamphlet that is required to provide to the consumers. This is more interst

Here is a a copy of the Pamphlet that you can download.

Agency Law Pamphlet effective Jan 24  click to download

Here is the new law as signed by the legislature.  You can see where the changes have been made and additions made.

Changes to the Law of Agency detailed Click to download