With recent changes in 2024, both to Real Estate Industry practices, and NJ Law with the passing of the NJ Real Estate Consumer Protection Enhancement Act - there’s been a large number of new real estate agreements created by associations and brokerages. But they are far from the same.

eXp Realty has led the way, to not only create new nation-wide forms, but they focused on being clear, easy to understand, and work in the benefit of the consumer AND the real estate agent.

For example, the eXp Realty buyer agreements do not contain waivers of buyers rights to legal action. Nor do they threaten placing a lien on a buyer’s new home for unpaid compensation.

Similarly, the eXp agreement with sellers, is simple, easy to read, and straight forward. It does not include the practice of “Cooperative Compensation” (a/k/a Broker-to-Broker Commission). Though a legal and compliant practice, it was the heart of recent lawsuits, is overall problematic, and clouds the transparency owed to consumers.

Above all, especially with a renewed focus on transparency, there’s nothing to hid. Please contact Nick at 856-430-0240 or Nick@NickNowakTeam.com for any questions on eXp client-broker agreements, and feel free to preview the agreements here:

See the eXp Listing Agreement Here

see the eXp Buyer Broker Agreement Here

As the industry evolves with the change, a number of Consumer Advocacy Groups and media outlets have had a lot of praise for the eXp agreements, which no other firm has received:

"Obviously eXp has made some pretty good movements towards a better industry, but we haven’t seen that with other ones. Some of them seem to have the opposite direction." - Consumer Advocates in American Real Estate

"eXp Realty’s forms leave the choice to offer buyer broker compensation to sellers" - Housing wire

"eXp, a leading national real estate company, just released a “Buyer-Broker Representation Agreement” that is much simpler, clearer, and pro-consumer than [another] agreement. This agreement can serve as a model for how Realtor organizations and brokerages can craft an agreement that is much more understandable and fairer to everyday buyers." - The Consumer Federation of America

“The eXp contract is written with the buyer in mind. [Another] contract is written with the interests of the Realtor in mind.” - The Consumer Federation of America

"Consumer watchdog holds up new eXp seller contract as model" - Inman News

"A new seller contract “Exclusive Authorization and Right to Sell” – that was prepared by eXp.... Like a buyer contract form eXp released earlier, the new seller form is understandable and fair to consumers." - The Consumer Federation of America