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Legal Blog
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 20, 2016
License Transfer Timeframe
Why is it taking so long for my license to transfer from one broker to another?
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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.
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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.
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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).
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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.
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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?
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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.
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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.
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Sep 16, 2016
Broker Audit Form DPOR Inspection Form
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Sep 16, 2016
Hidden Threats
Any real estate activity conducted subsequent to the expiration date of a license may constitute unlicensed activity and be subject to prosecution.
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Sep 16, 2016
Debunking Legal Myths: Kickback Vs. Rebate
A kickback is viewed as increasing the costs to consumers without providing anything of value. In certain circumstances, such as those covered under the Real Estate Settlement Protection Act, a kickback may be illegal.
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Sep 16, 2016
Obligation to Disclose Defects Relating to Article 2 of the Code of Ethics
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Sep 16, 2016
Licensee contract validity
It is possible that a contract written by a non-licensee could be valid, because the fraud and misrepresentation are not being committed by the principals to the contract (buyer and seller) but by one of their agents.
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Sep 16, 2016
Follow Listing Agreement Rules And Our Code
The NVAR listing agreement specifically provides that you, the agent, will use a lockbox, not a combination box on your listing
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Sep 16, 2016
What exactly is a “common interest community manager?
A CIC manager is defined as a person or business entity that provides management services to an association for a fee or other compensation.
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Sep 16, 2016
Avoiding Pitfalls in the World of Social Media
As a Realtor®, if you operate a blog, you must delete false or misleading comments or publish clarifications about them as soon as you have determined they are false or misleading.
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Sep 16, 2016
Who represents the buyer when a sub-agent is involved in the real estate transaction?
The listing agent and sub-agent both represent the seller while the buyer remains unrepresented in the real estate transaction
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Sep 16, 2016
Realtor’s® Guide to Well & Septic Part One
The expected life of a conventional septic system during these periods was 25 years. They were intended to serve the homes until they were connected to public sewer.
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Sep 13, 2016
Realtor’s® Guide to Well & Septic Part Two
Defining the benchmark for a pass or fail grade is often the most difficult part of the well or septic inspection.
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Sep 13, 2016
I am changing companies, and I currently have properties listed. What happens to those listing?
The listing agreement and the buyer/broker agreement are both agreements between the client and the broker not you, the agent.
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