Legal Blog

 
2015-03-04-legislative-trip-realtors-meet-with-image-house-chamber
The Legal Blog brought to you by NVAR's Professional Standards department helps you stay on top of the latest rules and regulations in the industry.

Check back often to keep up with latest information.
  • Sep 30, 2016

    Disclose Accepted Offers with Unresolved Contingencies

  • Sep 30, 2016

    Counting Bedrooms and Kitchens

    A legal bedroom must have two ways to exit: one that leads to the rest of the home and one that leads directly to the outside.
  • Sep 27, 2016

    Do Not Call List

    The general rule is that you, as a real estate professional, cannot call a person on the Do Not Call Registry unless you have an existing business relationship with the person.
  • Sep 27, 2016

    Steps to Take if a Listing is a Potential Short Sale

    First and fore most, in this market, before accepting a listing, an agent should always ascertain a few vital pieces of information.
  • Sep 27, 2016

    When can a Buyer's Agent call a Seller Directly?

    All dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client's agent or broker, and not with the client . . .
  • Sep 27, 2016

    Realtors and RESPA: Are Realtors Getting Religion

    Most REALTORS® are aware of the anti-kickback provisions of the Real Estate Settlement Procedures Act. "No man shall giveth, Yea, neither shall he receiveth, any thing of value pursuant to any covenant under the heavens that calleth for referrals of settlement services."
  • Sep 27, 2016

    Lockbox Security Violations

    The rules state the the Card Holder will be granted a revocable license to use the SentriCard in connection with the Holder's normal and customary activities while acting as a real estate agent or appraiser on the terms and conditions set forth in the referenced User Agreement.
  • Sep 27, 2016

    MLS Listing Photos

    Article 12 requires that Realtors® present a true picture in their advertising and real estate communications.
  • Sep 27, 2016

    Disclosing Beyond the Property

    Disclosure of pertinent facts relating to the property and the transaction must be disclosed by a Realtor® to his client, but because state regulations and the Code of Virginia only disclosure of pertinent facts relating to the property may be disclosed by a Realtor® to a customer.
  • Sep 27, 2016

    MLS properties for sale vs. for rent

    The MLS is a forum that not only allows listing brokers to advertise their properties for sale or for rent but also provides them with a means to make offers of cooperative compensation that can be reviewed and accepted
  • Sep 27, 2016

    If the Seller does not respond at all during the Negotiation Period

    Under the old Home Inspection Contingency, a Seller who wanted to void the contract would simply fail to respond to a counter-offer and the contract would automatically become void.
  • Sep 27, 2016

    Does an Agent Have to Indicate The Name of His or Her Firm?

    "REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property without disclosing the name of the firm."
  • Sep 27, 2016

    Listing a Property as Available When It's Under Contract

    Sellers often place agents in compromising positions by asking them to take actions that break or skirt the rules. However, the sellers quickly disappear when the complaints are filed.
  • Sep 27, 2016

    Home Showing Missteps - Who Foots the Bill?

    Depending on the circumstances and the cost of the repair, it may be a good business decision for the agent to offer to repair the damage.
  • Sep 23, 2016

    What happens if the Seller responds to the Buyer’s Home Inspection Removal Addendum?

    To avoid replicating this troubling scenario, we recommend a Negotiation Period of no less than seven days.
  • Sep 23, 2016

    Antitrust Compliance Guide

    The following guidelines have been prepared by the Risk Management Committee of the National Association of REALTORS® to supplement the REALTOR® association's long standing antitrust compliance program.
  • Sep 23, 2016

    Not the Lockbox of Choice

    When someone enters a property through a lockbox, there is a record of the visit. Each SentriCard® is assigned to one agent and thus the owner can trace who has entered his or her property.
  • Sep 23, 2016

    First Time Doing a Short Sale

    Article 11 of the Code of Ethics states that REALTORS® shall not undertake to provide specialized professional services that is outside their field of competence unless they fully disclose their lack of experience to the client or engage the assistance of one who is competent in the area.
  • Sep 23, 2016

    New Fairfax Sign Enforcement Program

    Improperly placed open house signs can cost you more than a sale. They can also result in confiscated signs and a loss of hard-earned money.
  • Sep 23, 2016

    Advertising other Agents Listings on Craigslist

    Realtors® are required under Article 12 of the Code of Ethics to ensure that their professional status is clearly identifiable in any advertisement.