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Legal Blog
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.
Aug 30, 2016
New 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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Aug 30, 2016
My clients prefer to receive a paper copy of the packet or certificate, but the association prefers electronic delivery. Do I have to agree to electronic delivery?
The seller or his authorized agent may request that the packet or certificate be provided in either hard copy or electronic form.
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Aug 30, 2016
Under what circumstances is a manufactured [mobile] home a vehicle versus real estate? When may it be listed for sale or lease in the MLS?
If a manufactured [mobile] home has wheels and/or other equipment used for mobility, it is considered to be a vehicle, and therefore personal property
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Aug 26, 2016
Lead Based Liability: Timing is Key
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.
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Aug 26, 2016
New Laws that Affect your Business
State and local Realtor® associations were successful in passing a robust legislative agenda that benefits you and your clients.
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Aug 26, 2016
I ordered a packet or certificate and it was delivered, but upon review it is incomplete. What can I do?
A purchaser can accept the packet or certificate as is, or may cancel the contract.
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Aug 26, 2016
When do I become an agent, and when does that relationship end?
Brokerage relationship shall commence at the time that a client engages a licensee and shall continue until the termination date or other conditions prescribed in the contractual agreement.
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Aug 26, 2016
When is the limited access Premises Agreement used?
Purchasers Limited Access to Premises Agreement is used when a purchaser wishes to take possession of the property prior to settlement, but does not intend to occupy the property
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Aug 26, 2016
Are You a Savvy Realtor Trademark User?
The terms REALTOR® and REALTORS® are trademarks of the NATIONAL ASSOCIATION OF REALTORS®. The trademarks, along with the Code of Ethics and Standards of Practice, set members apart from other real estate licensees.
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Aug 26, 2016
When an Old Practice Meets a New Business Model
Under the Code of Ethics, a REALTOR® is required to ensure that the name of their firm is on all advertising that is done by the REALTOR®.
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Aug 23, 2016
The Ins and Outs of Section 8 Housing
There are a number of government housing programs which offer different types of assistance to individuals with low income.
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Aug 23, 2016
Can I Enter a Listing in The MRIS that offers zero compensation to cooperating brokers?
The distinguishing characteristic of a multiple listing system is that it serves as a marketplace for competing real estate brokers to offer cooperative compensation to their competitors if those brokers are able to procure a buyer for the listing.
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Aug 23, 2016
Violating Article 1
REALTORS® pledge themselves to protect and promote the interests of their client. This obligation of absolute fidelity to the client's interests is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.
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Aug 23, 2016
What is a designated agent and what services can a designated agent provide?
Designated Agent or Designated Representative means a licensee who has been assigned by a principal or supervising broker to represent ...
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Aug 23, 2016
I need to order a new packet at cost. Can they do this?
There is no requirement that you pay the initial fees unless the request comes after the 12-month period has expired.
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Aug 23, 2016
Failing to Disclose
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Aug 19, 2016
A Landlord's Guide to Diplomatic Immunity
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.
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Aug 19, 2016
Rentals and Bedbugs
Paragraph 19 in both the VRLTA and the Common Law Lease clearly places the obligation of keeping the unit or the property free of vermin, including bedbugs, on the tenant.
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Aug 19, 2016
What is Value Range Pricing?
A Buyer Agent called me with a question about the remarks that were entered in a specific listing in the MRIS system. The remarks made a referenced to "Value Range Pricing." The Agent wants to know what that means.
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Aug 19, 2016
What happens if the disclosure packet is not delivered within 14 days or if I received a disclosure packet that is dated more than 12 months ago?
You can accept the packet or certificate as is, or you may cancel the contract
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