Debunking Misinformation: New Criteria for Seller Contracts
Debunking Misinformation: New Criteria for Seller Contracts | Tom Ferry Podcast Experience
The Consumer Federation of America just proposed a new set of criteria for evaluating seller contracts and forms.
Here’s the problem it aims to address: half the states we work in haven’t given us new paperwork, and the other half have given us ambiguous, confusing paperwork. With the new offer rules surrounding the NAR settlement about to take effect, there’s a lot of misunderstanding (and misinformation) surrounding what you can and can’t do regarding contracts and offers.
In this vitally important episode of the Tom Ferry Show, I’m talking with one Leo Pareja, the new CEO of eXp Realty, who helped to create the proposed new contract criteria, on what it means and how to understand all the changes taking place. He’ll help you cut through the misinformation and get a full grasp on how to conduct business in the new world of real estate.
The new commission rule changes DO affect you, and Leo and I can help you understand how to navigate them, so watch or listen now.
If you haven't read these articles referenced in the video yet, be sure to check them out with the links below:
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You are advised that any Information provided on this podcast is not legal advice. Ferry International assumes no responsibility for consequences resulting from the use of the Information. Some of the Information may be outdated or not consistent with current law.
Thank you eXp, Leo, for having our backs and creating this forms!
We LOVE having Leo in our Leadership!
Thank you! Mr. Leo, very clear, I love eXp! Gracias!
Thank you for the smart leadership & conversation.
Thank you Leo for your leadership.
Since 8/1 when asked – my text says the following to buyer agents “Yes it is available. The seller is open to concessions towards a buyer agents fee. He has requested that a form 220 be submitted with offers with fee you are requesting. Please mark from seller on form 220 not from listing brokerage “
Thank you Tom for bringing on Leo Pareja. Thank you Leo for your overall leadership. #eXpProud
New Mexico’s forms specifically say that any seller concessions offered in MLS cannot be later applied towards buyer brokerage compensation.
That is so unfortunate! The whole premise behind decoupling commissions is to put the seller in the driver seat. That MLS is ignoring the seller and that is so very unfortunate.
Thank you Leo. We appreciate your leadership.
Legal, Ethical & Enforceable! Love the mindset !!! Thank you Leo!
Awesome work Leo! We are so fortunate to have you as one of our team leaders!
Leo is amazing thank you Leo for the go near Tom Ferry (The best Coach ever had) with this important info about the NAR.
Show this to everyone who is questioning our leadership. eXp is leading the way. Period.
So happy to be at a company that leads by example.. Consumate professionals
Thank you, Tom & Leo, for putting this video together. I am tempted to share a link to this video with every one of my prospective buyer and seller customers as mandatory viewing prior to a scheduling a meeting or an appointment.
The world may be changing, but we’re ahead of it. At Tom Ferry’s Success Summit, you’ll spend three days learning the expert strategies for navigating the NAR settlement, attracting more listings, and charging through the storm on uncertainty. It’s happening August 27-29 in Dallas, TX. Get your tickets now!
https://www.tomferry.com/summit/
Leo and our Brokers at eXp have been in the lead with new legal docs, knowledge and guidance. I am so happy to be here at this time in real estate.
Love that an attorney convinced a group of sellers to sue the real estate industry for price fixing and many thought, the buyer wil now have to pay compensation and here we are pushing for the seller to continue to pay just like before except there is a negotiation piece to it. Just a matter of semantics. Great job Leo!
Nobody, even the government, should be telling a seller how to sell their property.
This is why I listen to these podcast…. fantastic information…
Thanks for listening!
The fact that exp is releasing forms that are understandable and fair is a win for the industry. It shows that they’re listening to agents’ needs and working to create a better experience.