Caveat REALTOR®

This week, the Virginia REALTORS® legal team continues the discussion about unrepresented parties in a real estate transaction, this week focusing on the unrepresented buyer. Cate and Erin discuss what you as a licensee can and can’t do for an unrepresented party, particularly when it comes to offering your professional judgment. They then answer some questions from the legal hotline, including wh...

This week, the Virginia REALTORS® legal team discusses some best practices for buyer agents when dealing with For Sale By Owner properties (FSBOs). Cate and Erin discuss the importance of the one-time showing agreement, as well as some negotiating tactics to use. They also answer some real-life questions from our members and tell you how to limit your risk when dealing with FSBOs.

This week, the Virginia REALTORS® legal team discusses the way Virginia regulates assistance animals. Jon and Cate talk about the requirements for assistance animals, including what you can and cannot ask about as the landlord or property manager. They also discuss the concept of therapeutic relationship and how a tenant can prove this relationship in Virginia. They also respond to real-life quest...

This week, the Virginia REALTORS® legal team discusses Article 1 of the Code of Ethics. Jon and Austin discuss the various standards of practice within Article 1, and how they govern your interactions with both your client and other parties to a transaction. They then answer some legal hotline questions and tell you how to limit your risk when it comes to the Code of Ethics.

This week, the Virginia REALTORS(R) legal team discusses procuring cause. Cate and Jon talk about the fact-specific test used to determine procuring cause in disputes between buyers agents. They also discuss arbitration, for those unfortunate times where negotiations don't work. They answer some questions from the legal hotline and finally discuss how you can limit your risk (hint: make sure you h...

This week, the Virginia REALTORS® legal team discusses a topic near and dear to our members’ hearts: how to get paid! Cate and Laura talk about the importance of a listing agreement and how an offer of compensation in the MLS can affect compensation. They then answer a few legal hotline questions, including what happens if the MLS offer is less than what is listed in the buyer brokerage agreement....

This week, the Virginia REALTORS® legal team discusses how to handle negative reviews in the digital age. Jon and Cate discuss the best way to handle negative experiences with Yelp, Google, and other websites, both from an emotional and practical perspective. They also discuss how the Virginia REALTORS® Legal Action Fund can provided much-needed assistance if you end up in court for this or any ot...

This week, the Virginia REALTORS® legal team discusses some areas of the purchase contract about which we often receive questions. Jon and Cate talk about what constitutes a “business day” and the difference between “on or about” and “time is of the essence” contracts. Finally, they when a buyer actually receives possession of the property.

Happy Independence Day! In this episode of Caveat REALTOR®, Virginia REALTORS®’s legal team discusses the July 2018 updates to the Virginia REALTORS® Standard Forms. All members of Virginia REALTORS® have access to our library of Standard Forms. Austin and Laura introduce our new forms and discuss which forms were updated. To conclude, they review how brokers and agents can limit their risk by usi...

This week, the Virginia REALTORS® legal team discusses the new laws passed in the 2018 General Assembly. Erin and Laura talk about what laws passed and how those changes could affect your business come July 1, 2018.

This week, the Virginia REALTORS® legal team celebrates a full year of Caveat REALTOR® by running through various updates in Virginia law. Austin and Erin also go through a greatest hits collection of Legal Hotline questions.

This week, the Virginia REALTORS® legal team discusses earnest money deposits. Laura and Jon talk about the risks involved for real estate licenses with regard to confirming that EMDs have been paid into escrow, particularly when it comes to the potential for identity theft. They also answer some questions from the legal hotline regarding how to handle EMDs both from the listing and buying sides o...

This week, the Virginia REALTORS® legal team discusses how the VREB regulations affect advertising. Laura and Jon talk about the distinction between print and electronic advertising, and the different disclosures required for each. They also answer some legal hotline questions regarding advertising, social media, and text messages.

This week, the Virginia REALTORS® legal team explores the topic of real estate and the military. In recognition of Memorial Day weekend, Jon and Austin talk about the unique issues faced by both military members and real estate professionals when it comes to finding a home.

This week, the Virginia REALTORS® legal team discusses real estate Teams. Erin and Laura talk about what is a real estate team and changes to the laws in the most recent general assembly that will affect these Teams. They also answer some legal hotline questions, such as “What are the advertising regulations for Teams?” and “Can my broker pay my Team directly?”.

This week, Virginia REALTORS®’s legal team discusses the ways that intellectual property law affect REALTORS®. Erin and Jon discuss copyright and trademark law and how each can directly affect your work as a real estate professional. They also address legal hotline questions regarding MLS photographs and the proper use of the REALTOR trademark.

This week, the Virginia REALTORS® legal team explores the topic of real estate compensation, specifically brokerage commissions. Erin and Jon talk about how Virginia regulations governs what you can and cannot pay to non-licensed assistants, and they discuss why money paid to licensees must flow through the broker. They also answer some real-life questions from the Legal Hotline and explain how yo...

This week, the Virginia REALTORS® legal team completes a two-part series on RESPA by discussing kickbacks and referrals. Jon and Erin talk about the six forms of permissible compensation under RESPA, and how the Prospect Mortgage case has changed the regulatory landscape. They also answer some legal hotline questions, such as “Can I offer to contribute money to a charity of the person’s choosing i...

This week, the Virginia REALTORS® legal team discusses affiliated businesses and how they work in the context of RESPA. Laura and Jon examine how Congress carved out an exception to RESPA for these business arrangements, provided that they meet a three-part test. They also answer Legal Hotline questions, including the disclosures a broker must make when she owns a percentage of a title insurance a...

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This week, the Virginia REALTORS®’s legal team discusses the history of the Fair Housing Act. With the celebration of the 50th anniversary of the Fair Housing Act, Erin and Austin discuss how we got to where we are today. They discuss the history of both the federal Fair Housing Act and the Virginia Fair Housing Act.

This week, the Virginia REALTORS®’s legal team discusses net neutrality. Austin and Laura discuss the concept of net neutrality and how recent federal regulatory decisions might impact that going forward. They also touch on how these changes might affect the real estate industry, as internet service providers could create new pricing structures that could cost brokerages more money to provide high...

This week, the Virginia REALTORS® legal team discusses the difference between independent contractor relationships and limited service agreements. Erin and Jon talk about the duties owed by real estate licensees to their clients in each of these situations, and how the relationships differ in significant ways. They also answer some legal hotline questions, such as “Can my firm offer both full- and...

This week, the Virginia REALTORS® legal team discusses incapacitated clients and how that incapacity affects real estate deals. Erin and Cate discuss how age, mental capacity, and intoxication affect the ability of clients to enter into binding agreements in Virginia. They also answer some legal hotline questions, including one where a client is diagnosed with Alzheimer’s Disease prior to ratifica...

This week, the Virginia REALTORS® legal team discusses mediation versus litigation in real estate disputes. Laura and Austin talk about the differences between formal (litigation) and informal (mediation) resolutions to disputes in the court system, and they discuss how Virginia REALTORS® forms address this issue. They also answer some legal hotline questions such as, “What’s the point of going to...