Forms Updates April 2023

May 2, 2023

- By The MAR Legal Team

The MAR Forms Content Advisory Committee kicked off 2023 with some important updates to the MassForms™ library. Be sure to confirm you are using the latest versions.*  

Concrete Foundation Advisory & Disclosure 

As the issue of pyrrhotite-impacted concrete continues to grow throughout the Western and Central regions of Massachusetts, the needs of MAR’s members and their clients necessitated separating this form into two forms, one aimed at buyers and the other towards sellers. You can now find the Concrete Foundation Advisory for Buyers in the library as Form #306 and the Concrete Foundation Advisory and Disclosure as Form #307. These forms are not mandatory, but MAR does recommend that REALTORS® educate themselves on this issue and speak with their buyers and sellers in impacted areas.  

Tenant Representation Agreement 

MAR has added a representation agreement to the library for REALTORS® working with tenants. Similar to a buyer representation agreement, this new form lays out the responsibilities of each party to the agreement, the term of the representation, and the compensation due, among other important provisions. This can be found as Form #704.  

Extension of Time Agreement 

With the addition of the new Extension of Time of Representation Agreement (#697) which addresses the Exclusive Right to Sell Listing Agreement, Buyer Agency Agreement, Right to Lease Agreement, and the Tenant Representation Agreement, Forms #694 and #698 will be retired. 

Short Term Rental 14-Day Exemption Form 

Due to popular demand, MAR is bringing back this form for our members’ use. REALTORS® engaged in the business of short-term rentals may use this form when working with owners who rent their properties for 14 or fewer days per calendar year. 

***************************************************************************** 

We welcome member feedback on the forms we provide. If you have questions or concerns regarding any of MAR’s forms or these new changes, do not hesitate to contact Catherine Taylor, ctaylor@marealtor.com.  

*Due to the variability in processing times of each forms provider, these updates may be available at different times on the varying platforms.