Homes Sales for May

NAR Settlement Agreement: Timeline and Upcoming Changes

RVAR and the MLS are working together to ensure all required changes are implemented prior to the deadline.

Implementation Date: Wednesday, August 14^th is the target date to implement the required changes. Members will see changes:

•  In the MLS system
•  In the MLS Rules
•  In some of RVAR’s standard forms

Overview of required changes:

No offers or disclosure of compensation in the MLS.

•  The Buyer Agent and SubAgent compensation fields will be eliminated from the MLS. The Finder's Fee field will be deleted from Rental Listings. The Variable Rate Brokerage field will also be eliminated.
•  The MLS may not permit any offers or disclosure of compensation in the MLS (e.g., cannot mention in MLS Remarks or a posted document).
•  The MLS may not create, facilitate or support any non-MLS mechanism for listing agents or sellers to make offers of compensation to buyer agents.

NOTE: Sellers and Listing Agents may continue to offer compensation to buyer agents – just not via the MLS.

MLS Brokers and Agents working with buyers must enter into a written agreement prior to the buyer touring any home.



•  The written buyer agreement must (1) specify and conspicuously disclose the amount or rate of compensation and (2) disclose that compensation is not set by law and is fully negotiable.
•  Buyer agents may not receive compensation for services from any source that exceeds the amount or rate agreed to in the buyer agreement.

For more details, check out facts.realtor. (NAR continues to update this site.)

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New Laws as of July 1^st

The Virginia REALTORS® legislative agenda passed the General Assembly with near-unanimous, bipartisan support. Click here to view key legislation that was passed by the General Assembly, signed by the Governor and will go into effect July 1^st. 



REALTOR® Party Mobile Alerts



Be a champion for YOUR industry and get connected directly from your smartphone or tablet with REALTOR® Party Mobile Alerts. You will be notified immediately when legislative calls for action (that could affect YOUR business) are issued. When you sign up for REALTOR® Party Mobile Alerts, NAR’s advocacy texting platform, you will receive a short text message containing information to take action.



Because calls for action require quick response, registering for these messages can help you stay in the know and ready to act. You can text REALTORS to 30644 to start receiving messages immediately. That’s it! Now, you are ready to take action!

Virginia REALTORS® is offering you a NEW complimentary member benefit. FOREWARN gives you the ability to gain instant insight on a prospective client (within seconds, without exposing any protected class information) using only a phone number. Click here for step by step instructions to set up your account.

If you already have a FOREWARN account, you are all set. Services will not be interrupted and Virginia REALTORS® will cover your account.



NOTE: Your FOREWARN searches must be limited to professional uses only. FOREWARN activity is actively monitored (search terms and volume) to ensure proper use by Subscribers.

RVAR Back-2-School Drive

The RVAR Community Service Committee is proud to announce our 2024 RVAR Back-2-School Drive benefiting the Boys & Girls Club.

Donations will be through a Drive up, Drop off, & Drive away event scheduled for Wednesday, July 31 (8am-5pm) and Thursday, August 1 (8am-4pm) here at the RVAR Office.

We look forward to our members stepping up and helping the needful youth of our community!

Family Fun Night

Summer brings so many great things! The beach, time at the lake, hikes and…..BASEBALL! Join us for our RVAR Family Fun Night at the Ballpark on Thursday, August 8. The picnic starts at 6pm with the first pitch at 7:05pm. Tickets are $18 for adults and $12 for children 12 and under. Your ticket includes your seat and the picnic. Bring the entire family (and friends)!

Click here to register today!

We can’t wait to see you at the Ballpark!!

RVAR Golf Classic

The RVAR Golf Classic returns on Monday, September 9th at Roanoke Country Club. Registration begins on July 9.

REFRESH: VAR’s Annual Convention

Invest in yourself and your career by attending Refresh: 2024 Virginia REALTORS® Annual Convention! Grow your network and expand your knowledge by attending the Convention, September 17-19, 2024 in downtown Richmond.

Click here to review the line up of speakers and to register.

NAR NXT, The REALTOR® Experience

The year’s premier real estate conference combines the power of industry-leading speakers, expert education and networking opportunities with 15,000 attendees in Boston, MA, November 8-10, 2024.

Click here to review the line up of speakers and to register.

NAR Offers Free ABR Class

NAR is offering the popular Accredited Buyer’s Representative (ABR) designation course, which typically costs $295, available to REALTORS® at no cost through the end of 2024. The ABR course is the first step toward earning the ABR designation and focuses on the key information and skills agents need today when working with buyers. This course will help you articulate and demonstrate your value to buyers.

This free course is available two ways: (1) via live interactive webinars scheduled through the end of the year or (2) via online course taken at your own pace.

Steps needed to earn the ABR Designation: (1) Be an NAR member; (2) Complete the ABR Designation Course; (3) Complete an ABR elective course; (4) Complete 5 transactions as a buyer's representative in your career; (5) Then submit your application to become an ABR through the online form. Annual ABR dues $110.



Click here to learn more or get started!

UPCOMING EDUCATION

VAR AI Class: Virginia REALTORS® is offering an online class titled ‘Efficiency Boost: 13 Ways to Use AI and Chat GPT in Real Estate’ taught by well-known speaker Marki Lemons. This FREE class will be offered on Thursday, August 8^th, 2:00-3:30PM.

Click here to register.

RVAR is preparing for two Fall classes which will be promoted soon:

•  Appraisal Class – September 25^th, 11AM-12:30PM
•  Septic Systems: Dirty Little Secrets – October 15^th, 11AM-12:30PM

Virtual GRI Classes: RVAR is partnering again with Virginia REALTORS® to offer virtual GRI classes throughout 2024. Each class is offered in two half-day sessions. Below are the classes offered through August, 2024. Click here for more information about the GRI program and to register for GRI classes.

GRI 506 Risk Management

July 10^th 9AM-12:30PM

July 11^th 9AM-12:30PM

Instructor: Doug Wolfe

Students will get a crash course on risk management, escrow, equal services, environmental concerns, and state and federal regulations such as lead paint and antitrust. CE Approved = 6 hours Legal Update with Flood Content; PL Approved = 3 hours Risk Management and 3 hours Escrow Requirements.

GRI 504 Working with Buyers

August 13^th 9AM-12:30PM

August 14^th 9AM-12:30PM

Instructor: Michael Guthrie

Students will learn the categories of active buyers, techniques for lead generation, components of the home showing process and negotiation strategies. The class will also review the mortgage process and financing options, including options for first time buyers. CE Approved = 6 hours Real Estate Related; PL Approved = 2 hours Real Estate Finance.

GRI 505 Working with Sellers

September 4^th 9AM-12:30PM

September 5^th 9AM-12:30PM

Instructor: Nancy Pav

Students will learn proven strategies for lead generation for Sellers, plus tips for listing presentations and marketing listings. PL Approved = 2 hours Current Industry Issues / Trends.

GRI 508 Real Estate Law & Virginia Regulations

September 24^th 9AM-12:30PM

September 25^th 9AM-12:30PM

Instructor: Donna Austin

This course offers the most up-to-date changes to Virginia law and Real Estate Board regulations. Case studies will help you understand how the laws apply to you and protect the interest of your clients. CE Approved = 8 hours Legal Updates with Flood Content; PL Approved = 6 hours Real Estate Law and Board Regulations. 

Upcoming Events

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