A Message to Our Subscribers
Over the past 12 to 18 months, the real estate industry has experienced significant changes, directly impacting how you, our valued subscribers, conduct business. In response to this evolving landscape, OREF has decided to simplify this year’s mid-year release. Instead of our standard suite of updates, we’re introducing a select group of new forms and a few minor revisions to existing forms.
Below, you’ll find a summary of what’s new and updated, along with links to downloadable handouts and short videos to help you confidently implement these changes.
We hope these resources support your continued success. If you have any questions or feedback you’d like the committee to consider, please feel free to contact us at customerservice@orefonline.com.
The form updates will be available for use on all OREF approved platforms on May 29th 2025. To view a sample and learn more about these updates, visit the buttons below!
Please visit our events page to sign up for an upcoming class: https://orefonline.com/events/
New Forms
Listing Bundle OREF 015, 016 & 017
Simplify your listing process with one essential bundle. This release includes:
OREF 015 – Listing Agreement
OREF 016 – Listing Agreement Addendum
OREF 017 – Listing Agreement – Early Termination
Designed to work together seamlessly, these forms set clear expectations, enable smooth updates, and establish a defined process if a listing ends early. For the first time, all listing and transactional documents are available in the OREF Library, making it easier than ever to stay organized and efficient.
OREF 113 & 114 – Buyer & Seller Agent Instructions to Escrow
Avoid commission confusion by communicating clearly (and early!) with escrow.
OREF 113 – Instructions for Buyer’s Agents
OREF 114 – Instructions for Seller’s Agents
These forms let you specify exactly how much your firm expects to be paid and who is responsible for payment. Representing both sides? Complete both forms. And if commission terms change mid-transaction, simply update and resend. It’s a quick and easy way to keep deals on track and closings stress-free.
Ensure clarity when co-owners aren’t on the loan.
This new advisory form guides buyers, sellers, and agents through important considerations when adding a co-owner who isn’t signing the mortgage. From lender approvals to title adjustments, OREF 115 helps prevent confusion and last-minute delays—because no one likes surprises (unless it’s a housewarming party!).
Form Update
Stay organized and accountable in association-managed transactions.
OREF 023 helps sellers track what documents they’ve delivered and allows buyers to confirm receipt, reducing confusion and delays. Sellers remain responsible for documenting delivery and explaining missing items, creating a clear, accountable process.
What’s new?
- Page count requirement removed for simpler completion
- Changed “Attached” to “Delivered”
- Now available in SkySlope Breeze for seamless seller use
Used proactively, this form can help agents streamline transactions and protect clients—one small step with a big impact.
Most updates to these agreements involve formatting for easier reading. Section 6, titled Early Termination, has also been revised to offer clearer guidance on how the agreement may be terminated and what buyers should understand about the process.
Updates to Section 6 – Early Termination:
- Clarified Scope of Termination: The introductory paragraph now specifies that the agreement “will not be terminated before the end of the Term if the Buyer enters into an Acquisition agreement due to the efforts of Buyer’s Agent that has not yet terminated or closed.” This language clarifies that termination is permitted only when the buyer is not actively involved in a transaction.
- New Subsection (c): A new provision has been added stating that termination becomes effective upon delivery of written notice. It also affirms that any obligation to pay a fee under Section 6(b) will survive the termination.
These changes will help clarify and address any questions regarding how termination is properly handled.
Revisions to the Early Termination form (OREF 050B) are closely aligned with the recent updates to Section 6 of the Buyer Representation Agreements. These changes are designed to enhance clarity and ensure buyers fully understand how the termination process is managed.
Updates to Early Termination Form:
- Section 2: The language has been simplified to clearly state that the buyer or the buyer’s agent is terminating the agreement before the end of its term.
- Section 3, New Subsection (a):A new clause has been added to remind buyers that they may still be responsible for paying any agreed-upon fee if they close on a property after the agreement has been terminated, as long as the transaction results from the agent’s prior efforts and takes place within the timeframe specified in Section 4 of the Buyer Representation Agreement.
These updates are intended to provide clearer guidance and reinforce transparency for buyers and agents regarding their obligations after termination.
