Dishin' Dirt on New SC REALTORs Forms and are Commission Rates Going Down? скачать в хорошем качестве

Dishin' Dirt on New SC REALTORs Forms and are Commission Rates Going Down?

South Carolina REALTORs Association has issued new compensation forms with not one but two Form 120s and updated agency agreements in Form 130, 135 and 136. Today I examine those changes and what they mean for you. Also, a new study by the Federal Reserve shines light on whether or not commissions have gone up or down since implementation of the Sitzer settlement. Takeaways The South Carolina Realty Association has released new compensation documents. Form 120 is now essential for compensation agreements post-Sitzer Burnett settlement. There are two versions of Form 120: one for broker-to-broker compensation and one for seller-to-buyer broker compensation. The requirement for buyer representation agreements is now nationwide, but its impact on commission rates is minimal. Form 130 has clarified that contracts cannot be unilaterally terminated by either party. The average commission rates have not significantly changed since the Sitzer Burnett settlement. The podcast has been recognized as the number one real estate podcast in South Carolina. Gary expresses concerns about the implications of commission structures on agents' fiduciary duties. The discussion includes a critique of the legal arguments surrounding commission rates post-settlement. Overall, the changes aim to simplify and clarify real estate transactions in South Carolina. Chapters 00:00 Introduction and Overview of Changes 05:12 In-Depth Analysis of Form 120 Changes 17:33 Exploring Form 130 and Its Implications 26:29 Impact of Sitzer-Burnett Settlement on Commissions Don't forget to like us and share us! Gary Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.