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hi everybody dana sparks broker of maximum one grader atlanta realtors and continuing on with the 2021 changes to the georgia association of realtors car contract package i just want to finish up with the listing agreement they're excited and uh just you know there's a there are a lot of changes please watch the other videos that i have done and i do welcome your comments um but the remaining uh changes i think i want to just finish up in this one video so um and again we do have ce classes uh on the 2021 gar contract changes i'll link the calendar below they are virtual they are free and they are open to all agents throughout the whole state of georgia um but let's continue on um again i am on the exclusive seller brokerage engagement agreement f101 and a lot of the changes are universal changes throughout the brokerage engagements so um one of the things that they added is under the marketing paragraph they added a section that basically states uh the seller acknowledges that the buyers and other brokers may actually take pictures or videos inside the property are they supposed to no especially if you are an agent do not take inside photos of somebody else's listing you do not have written permission to do that nevertheless it occurs especially right now with a lot of the virtual showings that we're having so under the paragraph b3 under marketing uh there is a disclosure that says seller acknowledges that buyers and other brokers may take photographs videos and other technology to capture images of the property to assist in marketing the property and helping buyers remember different properties seller agrees to remove any personal property prior to listing the property with this that the seller does not want those images captured so just wanted to bring that to your attention um they've rearranged some of the paragraphs regarding uh commission and default so there's nothing new content-wise just a rearrangement of those things um uh dual agency everywhere that it talks about dual agency it is made more uh it it's gar has attempted to make it more prevalent uh where it talks about dual agency under the agency brokerage section under what kind of um agency that a broker allows under no adverse agency relationships the intent is that when the public signs these documents they are actually giving informed consent to dual agency rather than implied consent to dual agency so again that is a universal change um throughout all the documents where it talks about dual agency then under there is a brand new paragraph b8 negotiation in the listing agreement and it states that while the broker may assist the seller in negotiating terms of a contract to sell if the seller has elected to have the broker assist in this role all decisions all decisions regarding price terms and other conditions in a contract to sell shall still be made by the seller in other words it is the seller that still has full control over the negotiations even if they're allowing the agent or the broker to assist in those negotiations um they've added under the limit to the broker's authority and responsibility they've added again in the brokerage engagements and in the purchase and sale agreement a sentence about uh it is the public's responsibility to determine if the property has a propensity to flooding and if there are any flood zone certifications we had for whatever reason we had a lot of issues this year with uh buyers purchasing properties and not finding out until they're at the closing table that the property is in a flood zone and that does impact the premium that they pay for their hazard insurance um so their lender should have found that out um and their homeowners insurance should have found that out but it was discovered at the closing table with the title um so you agents working with buyers make sure even if you don't think the property is in a flood zone make sure that the buyer checks that out before the end of the due diligence period uh so that the buyer if they want to terminate based on that will be able to get their earnest money back because they'll still be within due diligence um under paragraph c6 the miscellaneous section uh just a few changes here first they alphabetize everything um so that that makes it a little bit easier to read uh they have added the section under attorney's fees that basically if there is a dispute uh regarding the agreement in and of itself and it goes to court the winner has to pay the losers attorney's fees um so that is now disclosed in the agreement um and this was under definitions but they they've changed it around but anywhere in the gar contract package when it uses the term broker by extension it also means you the agent it means the broker's affiliated licensee as well um and then there's a whole section under the gar forms that says no party is required nobody is ever required to use a gar form at georgia association realtors form uh the the parties can use whichever forms they choose to use and then this is really interesting um this it they've added a whole sentence that talks about provisions in the gar forms this is paragraph c g provisions in the gar forms are subject to differing interpretations by our courts other than what the parties may have intended at times the courts may strike down or not enforce provisions in our car forms as written no representation is made that the guard forms will protect uh the interests of any particular party or will be fit for any specific purpose uh the uh so just want to basically that's any lawsuit any case that goes in front of a judge the judge is the final authority on the interpretation of uh whatever is written whatever contract there is whatever the judge feels the intent of the parties are and so gar is just putting that out there that regardless of the intent of the parties there are times when the court in georgia and the judge could rule in opposition to what is written and what you think and what the buyer and the seller think that means um another section they have added uh this is a really a great section under again c6 miscellaneous um there is a section under third party vendors as a broker i always inform all agents i don't care who your broker is but as a broker in general to all affiliated licensees you always want to give more than one name of any particular service provider and you're doing that as a courtesy but the ultimate decision to select is your public person so gar has actually made that disclosure in writing in the brokerage agreements and it does specifically state in paragraph oh third-party vendors broker may provide seller this is the listing agreement or the seller brokerage agreement uh with the names of vendors to perform services on behalf of the seller relative to real estate transactions involving the seller broker does not warrant or endorse the performance of any such vendor and the names of vendors are provided solely as a courtesy and as a starting point for the seller to identify possible vendors to perform services on behalf of the seller the seller agrees to do his or her own due diligence regarding the skills expertise and reputation of all such vendors performing services for seller and the terms of all contracts with vendors including whether there is a limitation of liability in such contracts all decisions regarding which vendor to hire shall be solely that of the seller and again same verbiage in the buyer brokerage agreement only it says buyer um uh there's another section they added under seller default so this contract is a bilateral contract meaning the buyer and the i'm sorry the seller and the broker must sign the brokerage engagement and therefore it creates a contract if the seller unilaterally terminates the contract then it is it does constitute prior to the expiration of the contract of the listing agreement it does constitute a default um so what gar has added under the default section paragraph c8 and again this used to be in a different place it states that uh if the the seller agrees that termination of the agreement prior to the end of this agreement without prior written agreement of the broker in other words it's a unilateral termination uh by the seller that the broker or agent removing the signs removing the listing from mls services uh or ceasing to market the property in any way does not constitute evidence of the broker's agreement to mutually terminate in other words it's still a unilateral termination even if the broker stops the marketing that is not a that is not a sign of a mutual termination and that would still constitute a seller default um and again they're just some other uh uh changes regarding where where various uh uh information is located they've rearranged some of the paragraphs and so forth and so on and then one other universal change that gar has made above every signature line in all of the in the listing agreements the fire brokerage agreements purchase and sale agreements leases counter offers everything is this new verbiage above the signature line and it says by signing this agreement seller acknowledges and obviously it's going to say buyer or parties whatever depending on what the form is but in this we're talking about f-101 the exclusive seller brokerage engagement agreement by signing this agreement seller acknowledges that number one the seller has read all the provisions and disclosures made herein number two the seller understands that all provisions and disclosures and has entered into this agreement voluntarily and number three the seller is not subject to a current seller brokerage engagement agreement with any other broker so this is specific again to the listing agreement you will read in the other ones it has similar verbiage for the buyer brokerage and in the purchase and sale and in the counter offer it basically says the parties have read the agreement understand the agreement and acknowledge and agree to what they're signing um so that's it for the changes in the listing agreement uh there might be a few other changes as well as the terminology which i've addressed in a previous video that um universal change throughout all of the contracts for simplicity or clarity sake is um instead of referring to the broker working with the seller as the listing broker it now says seller's broker and instead of referring to the broker working with the buyer as the selling broker it does now say buyer's broker uh so that those changes are also made universally throughout all of the forms so we'll continue on there are a few more changes to address but that's it for the listing agreement or i'm sorry old habits are hard to break the seller brokerage engagement agreement thank you guys so much for watching i welcome your comments below uh dana sparks broker of maximum one grader atlanta realtors satisfying your needs with service innovation and education you