CAR Listing Agreement Revision Under RealPro Case and Legal Webinar
CAR released revised standard form listing agreements and other standard forms on Monday, April 29, 2013. The newly revised listing agreements will condition the listing broker’s entitlement to compensation on both the procurement of a buyer and completion of the transaction (unless the seller prevents completion). Adding the completion of the transaction as a new requirement may appear at first glance to limit a listing broker’s rights. However, when read in context with the entire contract, it may turn out to be business as usual for most listing agents. CAR’s Standard Forms Advisory... Read more »
New California Laws for 2013 Affecting REALTORS®
The ink may not yet be dry on some of the legislative bills that Governor Brown signed into law yesterday as the 2011-12 legislative session drew to an end, but already a summary of over 60 new laws that may be of interest to REALTORS® is available to our members in the 2013 Laws section on the legal page of our website. The full text of each legislative bill is available at www.leginfo.ca.gov. Many of the significant upcoming laws are in the landlord-tenant arena, but other new laws involve foreclosures, HOAs, settlement agreements, smoke alarms, mobilehome parks, and much more. Some of the... Read more »
AB 1718 Signed Into Law
Late last month, Gov. Jerry Brown signed AB 1718, a C.A.R.-sponsored bill that closes an important loophole in an applicant’s experience requirements for a real estate broker’s license. Typically, in addition to meeting stringent educational requirements and passing a brokers’ exam, an applicant for a real estate broker’s license must first become a salesperson and acquire at least two years of full time experience in real estate, working under the supervision of a broker, before one can become a broker. Existing law allows an exception to the experience requirement for a college degree,... Read more »
New Law Revamps Workers’ Compensation
Last week, Governor Brown signed into California law extensive changes to the workers’ compensation system which protects employees injured while at work. The new law aims to reduce costs to employers, increase benefits to disabled workers, and eliminate inefficiencies and waste in the system. The Governor’s office estimates that the law will reduce the costs of workers’ compensation losses by close to $1 billion. The full text of this new law, Senate Bill 863, is available at http://www.leginfo.ca.gov/. As a reminder, real estate brokers are highly encouraged to provide workers’ compensation... Read more »
New Laws on Degree Brokers, Vacant REOs, and Military Servicemembers
On August 27, Governor Brown signed three significant legislative bills into law that may be of interest to REALTORS®. The full text of each law is available at www.leginfo.ca.gov. Restricting New Degree Brokers: Under a C.A.R.-sponsored law that comes into effect on January 1, 2013, the education exemption to the experience requirement for applying for a new real estate broker’s license is more stringent. Under existing law, an applicant must, among other things, be actively engaged in the business of a real estate salesperson for at least two of the last five years. The applicant, however,... Read more »
