Q. Form updates are usually released in January and July. Why did NVAR release updates in December?

REALTORS® do, in fact, have an obligation to preserve confidential information gained in the course of any relationship with the client

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.

The best course of actions is to note any potential problems, such as signs of water stains, provide a written notice to the client and recommend that they have a qualified specialist check the area to determine if there is a possible problem.

Realtors® have an obligation to preserve confidential information gained in the course of any relationship with the client

When representing a buyer, seller, landlord, tenant, or of the client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client.

The Federal Trade Commission has issued a final rule which requires three different disclosures from real estate agents assisting their clients in selling or purchasing a short sale property

As the listing agent, you must ensure compliance with the law. This means that you must inform the sellers of their obligations and make sure that either the seller or you personally complete all required activities.

The best practice is for landlords, leasing agents and property managers to consider what policy they believe is best for them, and make sure to apply it consistently in order to avoid any potential allegations of discrimination.

This is the second article in a series entitled, "Top 10 Claims Against Realtors®". The #2 cause of claims against a Realtor®? Failure to Disclose.

The buyer's agent has notified her that the buyers learned from the neighbors that the seller's son committed suicide in the property a few years before. The listing agent wants to know if she was obligated to disclose this information and if she is going to get into any trouble because she did not know about the suicide?

Realtor®, Mr. Lister, listed his client, Mr. Seller's home and subsequently advised him to accept an offer from Mr. Buyer at less than the listed price. Mr. Seller later filed a complaint with the association against Mr. Lister stating that Mr. Lister had not disclosed that Mr. Buyer was Mr. Lister's father-in-law...