NEW Compensation Forms REQD when listing brokerage pays co-op broker

In this video I demonstrate how to fill out 2 new required forms in Texas regarding compensation. Compensation Agreement Between Brokers (TXR-2402) and Addendum Regarding Broker's Fees (TXR-2406) You will need these to comply with the NAR settlement and to get paid by the title company.

[@lennycavazos8473]

This is so helpful Bradley . I attend many MANY classes and they never are this clear as to which forms are mandatory. THANK YOU for posting.

[@gatuvela2003]

Happy to see a new video from you !!😇
This video deserves a million likes ! Thank you so much 🙏😇🙏😇🙏

[@bradleyanderson2817]

@@gatuvela2003 thanks Cindy.

[@bradleyanderson2817]

@@gatuvela2003 that is so kind. Glad it was helpful. It’s overwhelming these days.

[@GenHomeTeamTXRealty]

Per legal hotline compensation agreement between brokers is never a required form only used if listing brokerage paying other brokerage

[@pmanezes]

Thanks Bradley! I enjoy watching your videos 🤓

[@bradleyanderson2817]

@@pmanezes thank you. Hope it helped.

[@MoChaRealEstate]

Very helpful! Thanks Bradley!

[@hollymahler8213]

On 2402 why wouldn't you put 180 days or as long as your buyers agreement is?

[@kellywhite174]

Thank you ❤

[@neera3147]

Thank you Brad!!

[@AmlakUSA]

thanks for the video

[@HectorHidalgo-tu9vi]

Is this required for contracts that were executed before the rule change?

[@bradleyanderson2817]

Yes, because since the BAC is now removed from the MLS, the only way to get paid is to put it in writing. Hope this helps

[@ModernRealtyTX]

Its actually not required in all cases.

[@97.0TheDon]

Can you expand on the cases it wouldn’t be needed. For my educational purposes, thanks

[@stevesimmons7031]

Not required for farm and ranch contract. Page 10 specifically states who pays who and how much. It CAN be used in lieu but not required if page 10 specifies.
It's not required in cases where the listing broker isn't offering the BAC, but the seller is. In this case you would use the agreement for compensation between broker and owner. Meaning the owner is paying the BAC directly. It isn't coming from the listing brokeri.
In fact I am incorporating this strategy in my brokerage as it makes the BAC directly negotiable with the seller and the buyer agent. So, I don't offer compensation to another broker. The seller does. I just tell agents to submit their offer and send what they expect to receive and we will go from there

[@theclosingone]

Thank you!

[@genevievegarrison4794]

Thank you so much.

[@bradleyanderson2817]

@@genevievegarrison4794 you bet. Hope it helped.