Dear Alabama REALTORS®,

We hope you are having a great summer. We are writing to provide you with an update regarding the midyear release of the updated Alabama REALTORS® (AAR) Statewide Legal Forms. AAR’s legal team has spent the last few months evaluating and enacting revisions to the legal forms in order to provide the best possible forms for our brokers, members, and consumers in light of the National Association of REALTORS® (NAR) Seller Class Action Settlement (Settlement). NAR’s new rules will take effect on August 17. 

In the development of the AAR Forms updates, AAR’s team of in-house and external real estate attorneys from across the state have taken great care to ensure the forms are both compliant with the terms of the NAR Settlement and offer improved readability for members and consumers. 

The updated AAR Statewide Legal Forms will be released Monday, July 22, 2024. The forms will be available for download and use from the AAR website and our partner document management platforms. As a reminder, to be in full compliance by August 17, members’ agreements with consumers, including existing consumers, must comply with NAR’s new rules. Therefore, it is imperative that AAR members are ready to use the updated AAR Forms and prepared to discuss the changes with their clients. When the forms are released, Alabama REALTORS® members will receive an email with more details.

AAR will be providing several training opportunities for the new AAR Forms with AAR’s attorneys.

AAR has created several training videos regarding the major changes made to AAR’s Forms. Those videos will be available on AAR’s website when the updated forms are released on July 22.

AAR’s legal team will be conducting several webinars to train members about the use of the updated AAR Forms. Registration is now open! Each session covers unique topics, so we encourage you to register for all three. Links to the trainings, along with topic descriptions, are provided below and are on our website. The training webinars will also be recorded and available to members on the AAR website following each session.

Webinar Training 1:  Listing Agents & Brokers - July 30 at 10am
In this session, we will discuss AAR’s Exclusive Right to Sell Listing Agreements, a new Transaction Brokerage Agreement for Sellers, an updated Addendum to those Agreements, and the Compensation Agreement Between Alabama Brokers.

Webinar Training 2: Buyers' Agents & Brokers - August 1 at 10am
In this session, we will discuss AAR’s Buyer Agency Agreement, a new Transaction Brokerage Agreement for Buyers, and the Compensation Agreement Between Alabama Brokers.

Webinar Training 3: Purchase Agreements - August 7 at 10am
In this session, we will discuss AAR’s Purchase Agreements.

AAR will have additional in-person trainings available for the AAR Forms in the immediate 30-60 days after the rules change on August 17. AAR will have in-person training sessions in as many locations as possible throughout the state into the fall. More information to come.

While numerous changes have been made to AAR’s Forms to comply with the NAR Settlement, AAR’s legal team has also been closely monitoring all available information and ongoing developments regarding the U.S. Department of Justice’s (DOJ) investigation of NAR. As part of this analysis, AAR’s legal team has tried to proactively address known areas of potential concern, to the extent possible, in the AAR Forms.  We understand there is uncertainty, confusion, and competing opinions about where the DOJ may be headed. These legal developments will continue to evolve. We anticipate this will be an ongoing analysis and we expect additional changes to AAR’s Forms may be necessary later.

We know that change is difficult, but we know AAR members will adapt and emerge from these practice changes even stronger. During this period of change and disruption, there is an opportunity to improve as a profession and provide even better, more transparent services to clients. Thank you for your ongoing commitment to professionalism and your tireless work to advance the dream of home and property ownership for so many.

Please reach out to us if you have any questions, comments, or suggestions. 

Warm regards,

Senia Johnson
2024 President
Alabama Association of REALTORS®

Jeremy Walker
Chief Executive Officer
Alabama Association of REALTORS®