2024 Forms & Revisions

2024 Forms & Revisions

Throughout the year, Missouri REALTORS® carefully monitor changes in the law and feedback from members, Local Boards/Associations, and other Associations of REALTORS® across the country. Our committees constantly review our forms library with legal counsel and revise them as necessary (or create new forms). This process ensures that Missouri REALTORS® standard forms are legally compliant and relevant to current market conditions and practices.

We believe that standardization is a good risk management strategy and continue to work with all local boards to help “level the playing field”, minimize conflicts, and promote a smooth and efficient transaction. We receive a tremendous amount of input (THANK YOU!). Each and every comment is reviewed and considered at our monthly meetings. While not all suggestions are approved, our forms committees approved several proposals for 2024.

We appreciate the leadership exhibited by ALL our volunteer members who dedicate their time to help ensure that Missouri REALTORS® standard forms are:

  1. “Fair & balanced” with reasonable options that work equally well in all parts of the State (and in both good markets & bad);
  2. Clear and easy to use and understand; and
  3. Fairly protect both parties to a transaction, as well as our members.

Forms Revisions/Sunsets

In addition to the form revisions discussed below, our library of “COVID forms” were discontinued for 2024. Those forms (listed below) were created in 2020 and specifically designed to address the huge disruption in normal activities that accompanied the onset of COVID-19. While things have returned to normal a bit, the possibility of exposure to any airborne virus (whether it’s the flu, COVID or any other organism) obviously remains. A new generic “infectious disease clause” was crafted to cover the situation generally, and inserted it into ALL of our (40+) brokerage relationship agreements.

The ”COVID forms” which are no longer published beginning in 2024 include:

    ~ COVID-2001R: COVID-19 Rider/Amendment;
    ~ COVID-2002: COVID-19 Release & Hold Harmless Agreement;
    ~ COVID-19 Showing Flyer; &
    ~ MSC-1031R: Listing Contract COVID-19 Rider/Amendment.

The following Missouri REALTOR® forms were revised for 2024. These changes are also discussed in a recent edition of Keeping it Legal. We also publish a “Master Forms Index”. It lists our entire library of forms and includes a brief description of their intended use. “Live” classroom training provided by Missouri REALTORS® legal staff is also available based on demand.

RES-2000: Residential Sale Contract
(Redline Version)

  • In addition to the inevitable “wordsmithing” (general language clean-up to increase clarity and better conform with terminology used elsewhere in our forms), some of the “bigger” changes include:
    • The Appraisal contingency (at §5B) now includes the defined term “Appraisal Contingency”.  It also clarifies that a complete copy of the subject appraisal must be provided if that contingency is exercised.  Our Appraisal Notice form (MSC-2020N) was also updated to that same effect.  
    • Changes were made at §§6&7 regarding the manner by which certain things related to a subdivision in which a Property might be located may be reviewed.  Essentially, a Buyer can now review any RECORDED subdivision indentures as part of general title review under §6 (like any other recorded document).  Any UNRECORDED matters that may pertain to a subdivision or its operations (e.g., financial reserves, insurance information, and other such information not of record) are covered under §7B regarding “Property Data”.  Accordingly, our “Subdivision Review Rider” (MSC-2060R) was discontinued. 
    • The “Note” At §7A (encouraging that the cost and availability of insurance be determined during the Inspection Period) was relocated from old §7G (which is further discussed below).
    • The “Note” At §7C (encouraging the use of our Buyer’s Inspection Authorization) was relocated from old §7G (which is further discussed below), 
    • At §7E, further language was added (like last year) to make it clear that, while in the “Resolution Period”, the parties are ALWAYS free and able to reach a resolution that THEY find mutually acceptable in order to resolve an Inspection Contingency.  As always, the parties can avoid an automatic termination of the Contract by reaching a mutually acceptable written agreement between them before the stated deadline (regardless of whatever those terms may include). 
    • “Old” §7G dealt with a Broker’s role and responsibility in connection with the inspection process and the use of experts.  That language was expanded and relocated (to §26) to recognize that the same holds true with respect to ALL “Service Providers” involved in a transaction generally (such as title companies & surveyors) and not just w/ respect to inspectors. 

MSC-2020N: Appraisal Notice
(Redline Version)

  • As mentioned above, our Appraisal Notice form was updated to make clear that a complete copy of the subject appraisal must be provided if the Appraisal Contingency is exercised.

MSC-2500: Survey Order Form
(Redline Version)

  • The redline makes it look like there were wholesale changes but essentially, we shortened the caption and improved the layout to make more clear the different types of options that are available to a consumer to choose from when selecting the type of surveying services to be performed (if any).

MSC-1080: Buyer's Exclusive Agency Contract
(Redline Version)

  • In addition to the new generic “infectious disease” clause discussed above, we also added a general “security systems & monitoring” clause to address the fact that a Buyer’s activities at the site may be under surveillance.  We also added language to address the topic of the proper use of any permitted recordings actually made by a Buyer at a listed property.
  • We also made wholesale changes to ALL of our brokerage relationship agreements, to conform with recent changes to the verbiage used in the NAR’s Code of Ethics.  Essentially, any prior reference to the term “handicap” (which is still actually the term used in the underlying applicable laws) was changed to “disability/handicap”. 

RES-1010: Sellers Exclusive Listing (Exclusive Right to Sell)
(Redline Version)

  • In addition to adding the new generic “infectious disease” clause and making the same conforming changes to “disability/handicap” discussed above, in effort to be as clear as possible, language was also added to clarify that brokerage compensation is not set by law (it never has been) but rather, that it is generally negotiable, and that (as always) brokerage compensation and commission rates are independently established by each brokerage company.

MSC-5070: Additional Signature Page
(Redline Version)

  • In April 2024, we approved a new “Additional Signature Page (for Leasing)” form (PM-5070).  It was specifically designed for rental transactions.  Accordingly, since MSC-5070 no longer needed to cover “Landlords” and “Tenants”, those terms were removed.  MSC-5070 now just covers “Sellers” and “Buyers” (and remains available for use in all SALE transactions, if/when needed).

COM-2000: Commercial Sale Contract
(Redline Version)

    • In April of 2024 significant changes were made to essentially conform the terminology and structure of COM-2000 so that it is generally consistent with the terminology and structure of RES-2000 (meaning they now both utilize the same 31 Section titles for ordering and language, where appropriate). The new changes to COM-2000 for 2024 essentially consist of incorporating most of the same new changes that are being made to RES-2000 (discussed above).

    COM-2045: Commercial Inspection Authorization
    (Redline Version)

    • The type & scope of inspections common in commercial practice significantly differs from that which is typical for residential transactions.  Accordingly, the COM Forms Committee created this NEW form (based on MSC-2045, which remains available for use in residential transactions).  COM-2045 is designed specifically for use in connection with COM-2000 to facilitate and confirm a Buyer’s selection of inspection(s) and responsibility for payment of all costs charged by the applicable service provider(s) identified.

    PM-3011: Residential Lease Agreement
    (Redline Version)

    • As part of a larger restructuring, our catalog of “Property Management” forms now includes our residential lease and ALL related forms including (e.g., our “Option to Purchase” Rider ~ formerly RES-3000R; “Option Notice” ~ formerly RES-3000N; & “Pet Addendum” ~ formerly RES-3020).  Our “Residential Lease Amendment” (formerly RES-3015, now PM-3011) was relabeled as part of that effort.  We now have 10 different “Property Management” (or “PM”) forms in our library.

    Notary Acknowledgment Forms
    (Redline Version)

    • For years we’ve made available a set of 7 different forms by which to obtain a proper notarized form of an acknowledged signature.  A notarized signature might be needed in a variety of situations (e.g., when executing a Guaranty).  While we shortened the title on each of them, they remain substantively unchanged.  This is because the actual language of these forms are dictated by statute.  In any event, these forms are all now grouped under a separate category (“NOT”) which is designed just for notaries.



    As always, if you have ANY questions regarding our Standard Forms or any revisions, please call LEGAL LINE at 573-447-5278.