2005 Standard Forms Committee Report

Dotting our is and crossing our ts

by Louise Potter, Chair 2005 Standard Forms Committee What a busy few years it has been for the Standard Forms committee. Members of this extremely hard working group have shared traits: a strong passion for the industry and a fierce commitment to detail.

Master Forms List

This is the committee that updates all standard forms for the Columbus Board of REALTORS® outside of those provided by the MLS Committee or those required by the State of Ohio. These include the Real Estate Purchase Contract released last year and all of its supporting documentation, such as the Buyer Request to Remedy, and other forms used everyday in our industry (see sidebar for a complete list of all forms).

New Exclusive Buyer Representation Agreement

Our first task this year was to examine and improve the Exclusive Right to Represent Buyer form. The revised document, now called the Exclusive Buyer Representation Agreement, is more extensive and comprehensive than its predecessor. We have at this point completed the content, gained the approval of the Columbus Bar Association and our Board of Directors. It is in the process of formatting at this time and should be available at the time this article goes to press. I believe that all of you representing buyers will be very pleased with the revisions.

Survey on the Purchase Contract _ 481 responses!!!

Our second major project this year has been to examine usage and effectiveness of the Purchase Contract released January 2005. Members were invited to participate in the survey from July 25 to August 30 via the MLS Welcome Screen. We received 481 responses full of comments and suggestions! Although we're thrilled with the tremendous response from all of you, we're also a bit overwhelmed with the amount of commentary we now must examine. So, we divided the survey into parts and created subcommittees to study your feedback to ensure we give proper attention to each and every one. The results from this process will be the basis upon which future modifications to the Purchase Contract will be made.

Standard Clauses _ Updated and `Clickable'

Our next assignment is to update our standard clauses and incorporate them into our auto-fill forms program. First, we'll need to review/revise our current standard clauses. Then they'll need to be approved by the bar association and CBR leadership. Then we'll need to get them integrated into the forms program _ probably in some form of drop down `pick & click' format. Look for this to be available in 2006!

Want to help?

If you are looking for a committee to sink your teeth into _ one that is challenging and rewarding, Standard Forms is the one to pick. And you can sign up right now via the 2006 Committee Registration Form in this magazine. But even if you don't want to commit to serving on our committee, we welcome your input. Please contact us with any questions, suggestions or ideas you may have for improvement. We are always willing to listen.