In November 2020, the Board of Directors of the National Association of Realtors® (“NAR”) adopted an update to Article 10 of the Realtor® Code of Ethics (“Code of Ethics”). This update provided a new Standard of Practice (SOP 10-5) that went into effect immediately and states:

Many brokers are asking: “Can my firm advertise resales, vacant land and new construction properties that are for-sale-by-owner (“FSBO”) on our website without listing it in the MLS?”

IN A COMPETITIVE MARKET, effective advertising can make all the difference.

THE VIRGINIA FAIR HOUSING LAW (Virginia Code Ann. §§ 36-96.1 et seq. (the “Act”)) recites the policy of the Commonwealth to “provide for fair housing … to all its citizens … and … prohibit discriminatory practices with respect to residential housing…”

Q. What does the Virginia Residential Landlord and Tenant Act (“VRLTA”) require of nonresident property owners who wish to lease their Virginia residential properties?

The 2020 Virginia General Assembly session yielded several important revisions to the Virginia Residential Property Disclosure Act

Q: After taking a listing, the REALTOR® was informed by the neighbors that one of the residents in the area is listed on the Virginia State Police Sex Offender Web site. She wants to know if she must disclose this information to potential purchasers.

Q. I am the listing agent for a residential rental property. My clients recently accepted a rental application and ratified a lease.

The NVAR Standard Forms Library has been updated (effective April 1, 2020) to provide Realtors® with new tools and to make necessary updates to outdated forms, particularly the Listing Agreement Amendment (K0004).

Ensuring that all citizens have fair access to housing is essential “[to protect] the peace, health, safety, prosperity, and general welfare of all the inhabitants of the Commonwealth …

The revised Rules take effect on March 1, 2020.

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

Q. What do we need to know about providing access to properties in a way that is safe for Realtors®, their clients, and members of the general public?

I have heard about services that will provide lists of recently expired or cancelled Bright MLS listings. What do I need to know to avoid violating our legal and ethical obligations?

I’ve been seeing a lot of properties advertised online or on signs as “Coming Soon,” but the property is not in the MLS, and the listing agent is permitting showings. Is this legal, ethical, or a violation of the MLS rules?

As of Jan. 1, 2019, there will no longer be a substantive difference between the common law landlord/tenant provisions and the Virginia Residential Landlord Tenant Act (VRLTA).

With respect to listing the property, there are two separate issues. First, is there a security system in the property that records both audio and video?

Q. As a real estate licensee, I market myself as a member of a team. What do I need to know about the newly-enacted team legislation?

GDPR stands for the General Data Protection Regulation. This European Union regulation took effect on May 25, 2018.