The escalation addendum is a valuable real estate tool that lets buyers automatically increase their offer in response to competing bids, up to a set maximum. Based on net offer value, it can be used with appraisal contingencies — either retained or waived. While the calculation was once straightforward, recent changes have added complexity.

NVAR uniquely has its own Professional Standards Department, with volunteer committees reviewing 70 – 100 annual cases to uphold Realtor® ethics, integrity, and professionalism in the region. Curious what these cases are most commonly about? Read to learn more.

The NVAR Legal Hotline has received many questions regarding HOA and Condo violations. Refresh your memory!

As the spring market heats up, remember NVAR forms are copyrighted for Realtor® use only. Don’t share blank forms with non-Realtors®, including unrepresented buyers, landlords, settlement companies, or friends and family.

Form K1281, the Exclusive Right to Lease Listing Agreement (ERRL), NVAR's agreement for brokers and landlords in rental listings, was updated at the beginning of this year. Learn more about how to properly fill out this form.

The NVAR Legal Hotline has received many questions regarding landlord-tenant rights this month. Refresh your memory!

The deadline for compliance with the new FCC One-to-One consent rule for telemarketing calls was recently extended in response to ongoing litigation.

The NVAR Legal Hotline has received many questions regarding voiding and releasing sales contracts this fall. Refresh your skills with this guide!

Not sure how to calculate competing offers using an escalation addendum? What if a buyer is asking for concessions or compensation? Read on for a refresher!

NVAR has recently translated summaries of four of our forms into the five languages most spoken in our area: Spanish, Korean, Vietnamese, Chinese (PRC), and Chinese (Taiwan).

When do I amend my brokerage agreements? What happens if the compensation advertised is different from the sales contract? Read on for some FAQs on how to use the July 1, 2024 NVAR Standard Forms!

As of April 23, 2024, the NAR settlement agreement is preliminarily approved. The settlement is still subject to final court approval, and plaintiffs have requested a hearing on final approval of the settlement to be held on November 26, 2024. Please see the FAQs below for more information and contact Mike Rohde at mrohde@nar.realtor with any questions about completing an opt-in agreement.

Realtors® should expect to see practice changes go into effect by August 17, 2024 and will be required to abide by them. However, the settlement agreement is still subject to final court approval, so it is possible the deadlines and practices outlined may be modified in coming months. Visit nvar.com/competition and facts.realtor for updates.

What can I do to prevent or avoid fraud in my transactions?

A new ruling by the DOJ has resolved a discrepancy between the Servicemembers Civil Relief Act (SCRA) and the Virginia Residential Landlord and Tenant Act (VRLTA).

Since agents are typically not parties to the sales contract, what is the Realtor®’s role in encouraging the Buyer to timely deposit the EMD? What about the Realtor® representing the Seller? The fact is, Realtors® may have more responsibility than you’d think!

Beginning on August 9, 2023, Bright MLS will update its Listing Entry system to allow for its users to enter any amount into the compensation field, including $0. For REALTORS® concerned that this change will cause a ripple effect in the market, remember that until this update, Bright MLS allowed for offers of compensation as low as 1 cent.

On July 1, 2023, the new Virginia Resale Disclosure Act, Virginia Code §55.1-2307, et seq. (“RDA”) went into effect, combining the resale package provisions of the Virginia Property Owners’ Association Act (“POAA”) and the Virginia Condominium Act (“Condo Act”).