This cheat sheet is your guide to effortlessly navigating the vital Florida Forms. Our goal is to make understanding these new forms a breeze by providing clear summaries of their importance and purpose. With this knowledge, you can confidently transact in this new environment!
Please Note: We will continue to update this form as additional forms become available.
FORM UPDATES ANNOUNCEMENTS
2024
November
NEW! Compensation/Concession Addendum Related to Buyer’s Broker (CARB-1)
This form is not a requirement.
New form to allow the parties to agree to concessions or contingency that relates to the Buyer’s broker being compensated. This form can be used with the Contract for Residential Sale and Purchase (CRSP16xxx), Vacant Land Contract(VAC-14xxx) and the Commercial Contract (CC-5xx).
Updated Forms:
Commission Agreement (CA-8)
Updated with the required compensation disclosure language for NAR settlement compliance. Also, replaced the term “Prospect” with the term “Consumer” throughout the form to keep consistent with the Showing Agreement and Exclusive Buyer Brokerage Agreements.
This form is not a requirement.
Vacant Land Listing Agreement (VLLA-5)
Updated with the compensation section and added the compensation disclosure language for the NAR settlement compliance.
Limited Service Listing Agreement (LSLA-4)
Updated with the compensation section and added the compensation disclosure language for the NAR settlement compliance
Exclusive Right of Sale Listing Agreement - Commercial (ERS-9cp)
Even though not required by the NAR settlement, the compensation section added the compensation disclosure language to remain consistent with all Florida Realtor listing agreements.
Florida Flood Disclosure Update
October 14
NEW Flood Disclosure (FD-1)
This form is a new requirement for all residential transactions.
The new flood disclosure law, effective October 1, requires sellers to disclose prior flood insurance claims, federal flood assistance, and the property’s flood history, ensuring buyers have crucial information before signing a sales contract, though FEMA limits access to flood history to current policyholders, and homeowners’ insurance typically excludes flood damage.
Filled out by the seller at time of listing; given to the buyer prior to submission of offer or at time of offer
Condo Association Addendum (CRSP-16)
This form is only required when the subject property is a condominium.
Florida's condo market has seen a significant update since October 1. Sellers must now disclose special assessments, reserve studies, insurance details, and flood zone status. This ensures buyers have a clearer picture of potential costs and risks before purchasing.
Filled out by the seller and signed by both parties
Condominium Rider (CR-6)
This form is only required when the subject property is a condominium.
Florida's condo market has seen a significant update since October 1. Sellers must now disclose special assessments, reserve studies, insurance details, and flood zone status. This ensures buyers have a clearer picture of potential costs and risks before purchasing.
Filled out by the seller and signed by both parties
September 9
Credit Related to Buyer’s Broker Compensation (CR-6 FF)
This form may be used when a seller agrees to give a credit to the buyer in a transaction when the buyer has entered into a separate buyer’s brokerage agreement and elects to apply the credit towards buyer brokerage compensation.
Seller’s Agreement with Respect to Buyer’s Broker Compensation (CR-6 GG)
This form may be used by the buyer to make the contract contingent on the seller or seller’s broker executing a separate compensation agreement with the buyer’s broker, with terms acceptable to the buyer. This form gives the buyer the ability to cancel the contract if no separate agreement is reached, or the terms of the separate agreement are unacceptable.
August 6
Compensation Disclosure Statement (CDS-1)
This form does not require signatures, only proof of delivery, and is required to be provided to all existing customers that signed a representation agreement prior to August 6th, 2024
Modification to Listing Agreement (MLA-6)
July 30
Exclusive Right of Sale Listing Agreements:
Exclusive Right of Sale Listing Agreement Single Agent (ERS-19sa)
Exclusive Right of Sale Listing Agreement Consent To Transition To Transaction Broker (ERS-20tn)
Exclusive Right of Sale Listing Agreement No Brokerage (ERS-17nr)
Exclusive Right of Sale Listing Agreement Transaction Broker (ERS-20tb)
Exclusive Brokerage Listing Agreement (EBLA-12)
July 23
Property Pre-Touring Agreement (PPTA-1)
Although not recommended, this form can be used for touring purposes
Modification to Exclusive Buyer Brokerage Agreement/Showing Agreement (MEBBSA-1)
Revised Showing Agreement (SA-4)
July 9
Exclusive Buyer Broker Agreements
Exclusive Buyer Brokerage Agreement - Transaction Broker (EBBA-7tb)
This will be a requirement on all purchase checklists (Buyer rep)
Exclusive Buyer Brokerage Agreement - Consent To Transition To Transaction Broker (EBBA-7tn)
Exclusive Buyer Brokerage Agreement - No Brokerage Relationship (EBBA-7nr)
Exclusive Buyer Brokerage Agreement - Single Agent (EBBA-7sa)
June 21
Compensation Agreements:
Seller To Buyers Broker (CASB-1)
This will be a requirement in all purchase checklists (Buyer rep)
Seller's Broker To Buyers Broker (CABB-1)
Owner-Listing Broker To Tenants Broker (CAOT-1)
Modification to Compensation Agreement - Seller to Buyer's Broker
Modification to Compensation Agreement - Seller's Broker to Buyer's Broker
RESOURCES
June - August 2024 Resources
RADIUS ROOMS
August 14th, 2024
July 9th 2024
NAR Settlement: What You Need to Know: https://www.floridarealtors.org/law-ethics/nar-settlement-sitzer-burnett-lawsuit
NAR Settlement FAQs: https://www.nar.realtor/the-facts/nar-settlement-faqs
Florida Realtors Legal Hotline: # 407-438-1409
Questions or suggestions to Forms@FloridaRealtors.org