Agency Law Resources

New Class! Change is Hard... Unless You're Prepared: Forms and Practice Changes for Summer 2024

You have been through a lot of changes lately, and more change is coming. On August 17, every REALTOR®-owned MLS will cease publishing offers of compensation in the MLS. Moreover, the listing agreements used by brokers who list property in a REALTOR®-owned MLS will change substantially.

FAQ: Preliminary Approval of NAR Settlement

New Class Regarding NAR's Proposed Settlement

Dive deep into the implications of industry changes including NAR's proposed settlement and Agency Law revisions with our brand-new clock-hour class, 'At the Intersection of NAR’s Settlement, Escrow Closings and Residential Lending', led by Annie Fitzsimmons.

WASHINGTON REALTORS® TOP TAKEAWAYS FROM THE NAR SETTLEMENT

The proposed settlement of a class-action lawsuit against the National Association of REALTORS® (NAR) was announced Friday, March 15 but the settlement must be approved by the court before it will be final.

DBrief Episode 06: Agency Substitutions and Team Scenarios

There are significant legal changes impacting real estate transactions: the mandatory naming of brokers in brokerage service agreements. Annie Fitzsimmons delves into which forms to use when handling broker absences and asks for feedback regarding team scenarios.

DBrief Episode 05: Listing Brokers and Real Estate Agency Law Changes

DBrief Episode 05 is out and in this episode, Annie Fitzsimmons, your Washington REALTORS® Legal Hotline Lawyer, addresses how listing brokers should approach conversations around the 2024 Agency Law Changes...

Statement from Washington REALTORS® President Alisha Harrison on the Burnett v. NAR et al Jury Verdict

Following the Burnett v. NAR verdict, Washington REALTORS® highlights its proactive approach to industry changes, emphasizing the forthcoming transparency-focused Agency Law effective January 1, 2024. The association provides resources and educational tools to assist brokers with the transition. Washington REALTORS® President, Alisha Harrison, expresses gratitude to members and reaffirms the organization's commitment to excellence.

At the Intersection of the 2023 Forms Revisions and Best Practices

On July 11, 2023, 31 of the statewide forms were revised and half a dozen new forms were introduced. All of the revisions and new forms are important but none of the changes are likely to cause a huge change in the way you do business or the way you draft offers and counteroffers.

Industry Evolution: A Better Future for Consumers & Brokers

The theme of the Bill is transparency. The revisions to the Act suggested by the association will increase transparency for buyers with respect to the services and compensation of the buyer's broker; increase transparency for buyers and sellers who work with a dual agent regarding the limitations of a dual agent's advocacy; and improve understanding of brokerage relationships for consumers and brokers alike with a rewriting and simplification of the Agency Law pamphlet (the "Pamphlet")...

Real Estate Agency Law Reforms – Bill Summary

Washington State’s real estate agency law, Chapter 18.86 RCW, has not been updated since its adoption in the 1990s. Existing law does not require certain basic consumer protections, and does not reflect modern industry best practices. This legislation will both protect consumers and avoid litigation seen in other states.

Agency Law: The Good, The Bad and The What-Could-Be-Better

This is the second article in a three-part series considering industry evolutions related to the Washington State Agency Law. The first article discussed the changing industry environment that is being pushed by legal, regulatory, market and other conditions. This article will take a closer look at our state’s existing Agency Law and discuss what it does well and where it needs to evolve in light of industry pressures....

Industry Evolution: EMBRACING THE CHANGE

Within the real estate industry, we stand on the cusp of imminent evolution. Unlike the evolution described above, that all of us can now study as historical events, evolution in the real estate industry is about to unfold...