We encourage you to consult your client, Broker, the Realtor representing the other party, and legal counsel, as appropriate, to determine whether to incorporate the Addendum into your existing contract. As always, the parties may execute a mutual Release at any time.
The most important thing to do right now is keep lines of communication open with your clients, fellow Realtors®, inspectors, appraisers, lenders and settlement agents. Realtors® have the obligations under the Code of Ethics to protect and promote the interests of their client while cooperating with other brokers except when cooperation is not in your client’s best interest. Essential business update from NVAR.
The situation is changing daily and NVAR may revisit the Addendum for necessary updates throughout the pandemic. As always, contact the Legal Hotline if you any additional questions.
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