Stay Ahead of New Regulations with SkySlope’s Simplified Buyer Agreements
The National Association of Realtors (NAR) is mandating written Buyer Agreements before home tours starting in August 2024. This change impacts all MLS participants, making it essential for agents to have a Buyer Agreement on file for every buyer.
To ensure compliance, many agents are turning to SkySlope for its streamlined Buyer Agreement solutions available in both SkySlope Suite and SkySlope Forms. These new workflows make it easy for agents to complete agreements and for brokers and administrators to review and audit them.
Why It Matters
MLSs will enforce the new rule, and non-compliance could result in penalties, including loss of MLS access, which is crucial for marketing properties. SkySlope’s Buyer Agreement solutions help mitigate legal risks by simplifying the process.
What’s Required in a Buyer Agreement?
According to NAR, a Buyer Agreement must:
- Clearly display the exact compensation for the buyer’s agent.
- Specify the compensation amount without open-ended terms.
- Include a clause preventing additional compensation beyond the agreed amount.
- State that broker fees and commissions are negotiable.
SkySlope’s New Features
For Agents in SkySlope Suite:
Buyer Agreement Improvements
Agents have the ability to include buyer agreements in checklists for auditor review and approval.
Your hub for pre-transaction document organization
Collect your pre-transaction documents — such as buyer agreements and rejected offers — all within SkySlope.
Get a head start on transactions
Link and sync Forms files to pre-transaction files, and easily transform them into transaction files within SkySlope.
For Agents in Forms:
Condensed Buyer Agreement Creation
We have added a “Start Buyer Agreement” button directly on the SkySlope Forms homepage. This addition is designed to assist agents in swiftly initiating and securing signatures for buyer agreements, thereby streamlining the process and saving valuable time.
This new button has already helped over 32,000 agents save time, with an average prep and send time of less than 4 minutes for Buyer Agreements.
Mobile App Buyer Agreement Initiation
Condensed buyer agreement flows are also available on your iOS device. This ensures agents can handle agreements from anywhere, enabling quicker turnaround and response-time.
For iOS, download here
Buyer Agreement Voice Commands
Exclusive to California & North Carolina, this feature enables voice-activated agreements, allowing agents to activate the process hands-free, significantly speeding up their workflow and enabling agents to dedicate more time to client interactions rather than paperwork.
Early Integrations with CRMs
SkySlope is partnering with industry leading CRMs so buyer agreements initiated are automatically synced to SkySlope Forms. With this powerful integration, agents can activate agreements without toggling between platforms.
For Brokers and Admins in Forms:
Brokerage-wide Buyer Agreement Visibility
Designed exclusively for brokers, this new view gives you early insight into agent activities, enhancing your ability to manage agreements and internal processes quickly and efficiently. This centralized feature ensures your brokerage remains compliant with relevant regulations, independent of transaction closures.
Simplify Compliance with SkySlope
Want to see how SkySlope can support your brokerage through these changes? Book a demo or explore our new features today:
- Sign up for live training session.
- Visit our Knowledge Base.
- Download the SkySlope Mobile app.
Stay compliant and efficient with SkySlope’s Buyer Agreement solutions.
