I want to say a few words about the new broker compensation disclosure law that we published on February 5, 2021.
We know you will receive calls and emails about this new law, please use the following bullet points to discuss, or send them to @Misty Baker or @David Mordo
· The law will take effect on December 27, 2021
· Final regulations, or the real rules, of the new law have not yet been written, this will take months to happen. We don't expect a first draft until summer 2021.
· We will consistently monitor and comment on the proposed rules as they transpire in Washington, DC.
· This new disclosure requirement will impact most of our agents across the country.
· We will provide templets, sample letters, a how to guide and any other documents that will help our agents be successful with this new law.
If you have any questions about this new law, please do not hesitate to reach out to Mordo or myself and we will be happy to discuss the details that we currently know.