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 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.
  • Sep 23, 2016

    Payments to Subordinate Lien Holders on HUD-1

    All payments made in connection with a RESPA-covered transaction must be disclosed on the HUD-1/1A Settlement Statement.
  • Sep 23, 2016

    Landlords with Really Bad Ideas

    A landlord wants to restrict the number of people who are able to rent his three-bedroom condo unit. Therefore, he instructs his Property Manager to advertise the property as "two bedrooms with a den". The Property Manager knows this is wrong and wants a reason why he can not comply with this request.
  • Sep 23, 2016

    What Information Must I Include in My Advertisements?

    In general, what information must I include in all of my advertisements to the public? Do I really have to include my firm name, the REALTOR® logo or the fair housing logo in all of my advertisements?
  • Sep 23, 2016

    What constitutes “substantive discussion about a particular property?

    A discussion like how does this Tudor home compare to the one down the street,” moves conversation into a discussion about a specific property.
  • Sep 23, 2016

    Mold Killed My Dog

    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.
  • Sep 20, 2016

    Compliance is Every Realtor®’s Duty

    An accommodation request under the FHA isn't limited to a particular type of service animal, and so could require accommodations for such animals as snakes or birds
  • Sep 20, 2016

    Guide to Unearned Real Estate Fees

    A new guide that further explains HUD's RESPA Statement of Policy on Unearned Fees is now available online.
  • Sep 20, 2016

    What is the Mortgage Assistance Relief Services Rule?

    The FTC Rule defines MARS activity as including negotiating, obtaining and arranging a short sale. Under this definition, an agent or broker who performs the following services would fall under the definition of a MARS services provider
  • Sep 20, 2016

    REO Commison regarding a licensee

    It was the consensus of the Work Group that any listing agreement between a seller and a listing broker that provides that cooperative compensation cannot be offered or paid to a cooperating broker if the purchaser holds a particular license or credential, ...
  • Sep 20, 2016

    License Transfer Timeframe

    Why is it taking so long for my license to transfer from one broker to another?
  • Sep 20, 2016

    Combo Boxes - Not the Lockbox of Choice

    Since combo boxes are not regulated, their use is unchecked, whereas lockbox rules violations can be brought to the attention of the Board and compliance can be enforced through NVARs Grievance Procedures.
  • Sep 20, 2016

    Shining a Light on the Details of Fair Housing Law

    Under normal circumstances, it is a violation of fair housing laws to express a preference toward a tenant of a specific gender.
  • Sep 20, 2016

    Polybutylene Plumbing Nightmares

    Buying clients rely on agents to show them the neighborhoods they are looking for, the style of home they want, and the location they desire.
  • Sep 20, 2016

    I thought fees for resale packets were capped at 100. Why am I being charged more?

    The fee for the packet or certificate now hinges on whether the association is professionally managed by a common interest community manager (CIC managed association).
  • Sep 20, 2016

    Disclosures on Latent Material Defects

    Standard of Practice 1-9 specifically provides that latent material defects are not considered "confidential information" under the Code of Ethics.
  • Sep 20, 2016

    How long can an agent have a Coming Soon sign up?

    How long can an agent have a Coming Soon sign up before entering the property into the MLS? Isnt it an illegal pocket listing for a Coming Soon sign to be up for more than 48 hours?
  • Sep 20, 2016

    What is a Sub-Agency?

    Sub-agency is one type of brokerage relationship. It was the predominant method of establishing a brokerage relationship until the mid 1990s.
  • Sep 16, 2016

    FTC Rule Requires Short Sale Disclosures

    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.