In real estate’s rapidly-evolving landscape, the National Association of Realtors (NAR) settlement signifies a dramatic turning point for buyer agents. With new rules and regulations emerging, there’s a pressing need for efficiency and innovation as it pertains to buyer agreement contracts. At SkySlope, we’re closely monitoring these changes, deciphering their implications, and developing solutions to address new challenges.
Understanding the NAR Settlement:
The NAR settlement seeks to make the real estate transaction process more transparent, resulting in buyer agents navigating more structured rules around disclosures, compliance, and buyer agreements.
Implications for Real Estate Professionals:
Immediate implications include increased administrative work, a stronger emphasis on liability, and the need for quicker buyer agreement processing. Failing to adapt to these changes create compliance risks. The recent mandate also underscores a unique challenge: the need for clearer communication with clients. Without the right tools, buyer agents might struggle to maintain a comprehensive record of transactions, making it difficult to effectively highlight their expertise and validate their fees, potentially impacting the perceived value of their services.
The Challenges Facing Agents:
The new requirement for buyer agents to enter into agreements before showing properties highlights the importance of clear communication early, often before establishing a relationship. Leveraging technology equips buyer agents with the tools necessary to reduce liability by maintaining a detailed record of their representation agreements. Brokerages will benefit from providing their agents with frictionless solutions that reduce liability, thus enabling their people to prioritize showcasing their strengths, validating their commission, and enhancing the overall value of their services.
SkySlope Forms – The Solution:
Addressing these challenges, SkySlope is introducing new features that allow buyer agents to create and send buyer agreements directly from SkySlope Forms. By simplifying the creation process, we’re reducing liability and administrative burden, while accelerating the buyer agreement process.
Available Now:
- 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.
- 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.
- 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.
- Mobile App Buyer Agreement Initiation
Condensed buyer agreement flows will also be available on your Android and iOS device. This ensures agents can handle agreements from anywhere, enabling quicker turnaround and response time.
- 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.
Leading with Innovation:
The NAR settlement has introduced new challenges for real estate professionals, but with SkySlope Forms, navigating these changes becomes simple. Our dedication to innovation, user-friendliness, and safeguarding our customers from litigation ensures you’re equipped to thrive in today’s evolving landscape.
SkySlope Forms is included in nearly all subscriptions of SkySlope Suite — Contact our sales team today to book a demo and learn more.
*Please note when SkySlope Forms is included in a SkySlope subscription, SkySlope DigiSign is typically an additional cost.
