NVAR

The Source: August 2024

Welcome to The Source!

The Source immerses readers through captivating video content, expert insights, and scenarios. Elevate your industry expertise by checking back each month for engaging multimedia and invaluable professional advice.

The Source is your inside scoop on legal, governmental, and ethical developments in the real estate industry.

Special Standard Forms Updates — August 14, 2024

As part of its normal process, NVAR’s Standard Forms Committee releases at least two forms updates each year — one in January and one in July. There are instances, however, when NVAR must consider market developments, industry changes, or feedback from practitioners, and update the forms accordingly.

As a direct response to member suggestions and in consultation with industry partners, NVAR’s Board of Directors (BOD) has approved updates to several NVAR Standard Forms for clarity and efficiency — effective August 14, 2024. We encourage you to review the updates, in addition to the July 1 Standard Forms updates that remain in effect.

Read the Blog Post.

Watch the Video Overview.

Newly Released:

Tips for Preparing Sellers and the Property for an Open House

Hear from Anthony Athanason, Vice-Chair of the NVAR Products and Services Advisory Group, on five tips for preparing a home and your clients for an open house!

Watch Here

Off the Hook! Why some agents are so attached to phone calls and why that can be a good thing

Learn from Sean Bugg, Chair of the NVAR Grievance Committee, how generational differences may impact communication preferences (phone call or text?!) between agents during a transaction.

Read Here

New from Government Affairs:

Fairfax County Boundary Policy Changes: What Realtors® Need to Know

For the first time in decades, the Fairfax County School Board conducted a comprehensive review of the Fairfax County Public Schools (FCPS) Boundary Policy (Policy 8130) and approved updates to the policy at its July 18, 2024 Regular Public Meeting. The July 18 action completes a years-long process that creates a framework for future boundary adjustments.

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NVAR Comments on Fairfax County Data Center Ordinance Amendment

Fairfax County is proposing updates to regulations on data centers — introducing new guidelines on noise, building design, and setbacks. In March of this year, the Board of Supervisors authorized staff to prepare a Zoning Ordinance amendment to strengthen current provisions for data centers while recognizing the economic benefit to the county.

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New from Professional Services:

Walking the Ethical Tightrope: Dual/Designated Agency and Unrepresented Buyers

The news of the proposed National Association of REALTORS® (NAR) settlement and its implications resulted in industry-wide questions and apprehension about the fundamentals of buyer agency representation. Let's get back to the basics and review your ethical responsibilities during transactions with different types of representation.

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Steering into the Skid: Are Open Houses a Cheat Code for Realtors®?

Effective August 17, 2024, Realtors® must have a written representation agreement with a client prior to offering touring services. Whenever there are changes it’s important to evolve your business practices, and how you articulate your value proposition to your clients, to ensure your continued success.

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