Changes made to three C/I forms this year
Ed Carr, Chair
C/I Standard Forms Committee
Why
To provide each CBR/CI member with forms that are developed by the CBR/CI Standard Forms Committee that have been reviewed and approved by two committees. Members can rely on some standardization of contract language between other members as they cooperate on real estate transactions. The objective of the CBR/CI Committee is to make CI forms useful and beneficial to CBR/CI Members.
The Process
Annually we review each form for accuracy, relevancy, and ease of use. If we feel a form needs to be updated, we assign committee members to review and make recommendations to the full committee. We also may develop new forms as necessary to serve our CI members.
Any changes or new forms must be approved by the full committee. All contractual forms (listing, purchase and representation contracts) are reviewed by CBR’s legal counsel. The approved form then goes to the CI Steering Committee for review and approval. Once approved it then goes before the CBR Board of Directors for approval. Only then does a form become available for membership use.
What's Happening
This year we have made changes to the CI Property Listing Agreement and Buyer Broker/Tenant Representation Agreements. The Buyer Broker/Tenant Representation Agreements have been reduced from 6 forms to 2 forms. We are developing a new form to register prospects to owners for the protection period in listing agreements.
We are continually reviewing the CBR “On-line Forms” for cost, benefit and how to attract more members to use the service.
We are coordinating with the CI Education Committee to provide a CE credit course on how to use the forms and benefits of the “On-line Forms”. This course will be conducted in early 2005.
Rules
The use of the CBR/CI standard forms does not replace each broker’s due diligence in both preparation and appropriateness of any of the language as it relates to each transaction. The fact that CBR’s legal counsel has approved the standard contractual form does not substitute the use of individual legal counsel’s review and advice by any of the parties to the contract. Unlike the CBR residential standard purchase contract, CBR’s CI purchase contract forms are not approved by the Columbus Bar Association.
Members may not alter the standard form language. The forms are copyrighted. If a change is necessary for your particular situation you can use an addendum so it is clear to all parties that a change has been made.
Suggestions or Comments
The committee would welcome your ideas, comments, or suggestions. Just put them in writing and send to CBR attn: CBR/CI Standard Forms Committee.
Where to find the forms
You can purchase printed forms from the CBR Member Service Center.
You can sign up for “On-line Forms” on the CBR website. There is a free one day trial period for new users.
Committee Members
Ed Carr, Chairman; Bob Stern, Vice Chairman; Patrick Dwyer; Jeff Gregg; Andy Madison; Scott Pickett; Robert Stewart; Jay Zollers and Fil Line (CI Steering Comm. Liaison)
Calendar