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| California Association of REALTORS(R) Standard Forms Adopted by Market Leaders in Key San Francisco Bay Area Real Estate Market |
LOS ANGELES, Sept. 23 /PRNewswire/ -- The California Association of
REALTORS(R) (C.A.R.) today announced that its standard forms have been adopted
by Marin County's leading real estate brokerages in the north San Francisco
Bay Area market.
Marin County REALTORS(R) now will use C.A.R.'s Residential Purchase
Agreement (RPA) and related forms that already are used in nearly 90 percent
of all residential real estate transactions in California.
"We're pleased that Marin County REALTORS(R) will enjoy the benefits of
using C.A.R.'s standard forms and the legal resources that go with it," said
C.A.R. President Toby Bradley. "C.A.R. is partnering with the Marin
Association of REALTORS(R) to distribute the forms to San Francisco Bay Area
REALTORS(R).
"In addition to the benefits inherent in using the real estate industry's
standard, all C.A.R. standard forms are backed by C.A.R.'s User Protection
Agreement," she said.
C.A.R.'s legal staff began training Marin County REALTORS(R) on use of the
new form in August.
"The new C.A.R. deposit receipt reflects terms and conditions that
actually occur in the practice of real estate in 2003, rather than those that
are obsolete," said Timothy Murray, president of Pacific Union Real Estate
Group Ltd. "The entire buy/sell transaction will become easier for
REALTORS(R), homebuyers and sellers to understand and manage.
"Brokers will be able to better, more easily, and more effectively train
their agents to use, understand and communicate the terms in one deposit
receipt, instead of having to learn the nuances of several different deposit
receipts," she said. "Most important, the C.A.R. deposit receipt treats
homebuyers and sellers equally, contrary to some documents currently being
used in the real estate marketplace."
The California Association of REALTORS(R) ( http://www.car.org ) is one of
the largest state trade organizations in the United States, with more than
130,000 members dedicated to the advancement of professionalism in real
estate. C.A.R. is headquartered in Los Angeles.
SOURCE California Association of REALTORS
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CONTACT:
Mark Giberson of California Association of
REALTORS, +1-213-739-8304, markg@car.org
