Homes Sales for April

NAR Settlement Agreement: Timeline and Upcoming Changes

The National Association of REALTORS® has agreed to a Settlement that will resolve the nationwide class action lawsuits brought by home sellers related to broker compensation.

The Settlement Agreement will release NAR, over one million NAR members, all state and local REALTOR® Associations, all REALTOR® owned MLSs, and all brokerages with an NAR member as principal whose residential transaction volume in 2022 was $2 billion or below from liability for the types of claims brought in these cases.

REALTOR® members as of August 17, 2024 will be covered with one exception. Agents affiliated with HomeServices of America and its related companies are not covered by NAR’s Settlement Agreement, since HomeServices negotiated its own Settlement Agreement.

Timeline: The deadline for RVAR and the Roanoke Valley MLS to implement the required changes is August 17^th. Members will be notified once the local implementation date is confirmed – likely a few days before the August 17^th deadline.

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

What is being changed: 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 Broker 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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Join RVAR’s BOD in 2025



Are you ready to give back to the REALTOR® community? Do you have fresh ideas for change? Interested in a leadership role in RVAR?

RVAR's Board of Directors has announced the following leadership openings for 2024: President-elect, Vice President and 4 Director positions. The process for applying for a Director or Officer position is simple:

• The application period begins Thursday, August 1st and ends on Tuesday, October 1^st
• A period of RVAR membership is required in order to apply: 2 years for Directors, 3 years for Vice President and 4 years for President-elect.
• No more than 2 members from the same firm may serve at the same time on the Board of Directors, with the exception of the Immediate Past President.
• All applicants must meet the following objective criteria:

− Must have served on an RVAR Committee, Work Group, etc. withing the previous 10 years

− No Virginia Real Estate Board violation within the previous 2 years

− No Code of Ethics violation within the previous 2 years

 The Board is a hardworking body of 12 REALTORS® who set policy for VAR. The group meets 10 times each year to consider issues, set the direction and manage the funds of the Association. If you are interested or have any questions about the requirements and benefits of serving on the Board of Directors, please contact Jay Kilby or CEO Laura Benjamin.

Slated to continue their service on the 2025 Board will be: President Julie Kingery (Mountain to Lake Realty); Immediate Past President Jay Kilby (RE/MAX All Stars Realty); and Directors Amber Mason (MKB, REALTORS®); Glenda Morris (Long & Foster, REALTORS®); and Mac Westland (Mac Westland Real Estate Group.) 

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.

REALTOR® Code of Ethics Training: December 31^st Deadline



Have you completed your Code of Ethics training requirement? Ethics training is an essential part of your business and is a mandatory class needed to maintain your Virginia real estate license and your REALTOR® membership. NAR’s current Ethics Training Cycle deadline is December 31, 2024.

REALTORS® are required by NAR to complete the essential training of not less than 2 hours, 30 minutes of instructional time, every three years. Failure to confirm completion can cause suspension of membership and affect MLS access. Why wait?



If you have completed the Code of Ethics training between January 1, 2022 – December 31, 2024, with your license renewal or Post Licensure education, please send a copy of the real estate school’s completion certificate to melissa@rvar.com. Not sure whether you have taken ethics training, review the continuing education credits for your license on DPOR’s website.

If you are a new agent or still need to take Code of Ethics training, NAR offers free course options. Click here to explore NAR’s ethics training options – for new and existing members.

Thank you for ensuring your compliance with this NAR requirement. Questions? Contact Melissa Elder at the RVAR office.

5 O'clock Hops has returned for 2024! This is a fun event that is held occasionally at various breweries throughout the area! This is a great opportunity to network and socialize with other REALTORS® & Affiliates... and support our local breweries! Additional 5 O'clock Hops will be scheduled throughout the year.

Our next 5 O'clock Hops is in Rocky Mount, which will take place on Thursday, June 6th at Olde Town Social House, (335 S. Main St., Rocky Mount, VA), from 5:00PM 'til 7:00PM. You are welcome to bring your significant other or friends!

No Registration Required for this event - just show up! And bring a friend!

• Appetizers Provided!
• Enjoy Olde Town Social House's beer selection!
• Door Prizes for REALTORS® & Affiliates! Bring a business card!

 Click here for a printable flyer.

      This event is sponsored by our fabulous RVAR Partner/Sponsors. 

Save the Date...

Family Fun Night

Our next Family Fun Night with the Salem Red Sox is scheduled for Thursday, August 8th. Registration will begin on June 11.

RVAR Golf Classic

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

Check Your Listings for Common Errors 



Since January 1^st, 113 error reports have been submitted through FlexMLS. The most common errors / issues reported so far this year are:

46 = Wrong data (wrong schools, taxes, style, #beds/baths, mapping, attached vs. detached, should be land listing, inaccurate address)

17 = Wrong SQFT

11 = Missing data (owner’s legal name, owner’s phone # when showing instructions are to call seller, Other See Remarks with no explanation)

9 = Photos (Listing agent sign in photo, missing front photo) REMINDER: Photos submitted to the MLS must NOT show a yard sign or have any office or agent promotion. Also, one photo must show the front view of the property, which must be entered at the time the listing is entered into the MLS (though does not have to be the primary photo). For Land listings, the front view can be a street view, aerial or drone view or Lake view.

Virginia REALTORS® Committees for 2025

Applications are now open for appointments to the 2025 Committees for Virginia REALTORS®. This is your chance to influence legislation and regulation in Virginia, help enforce the Code of Ethics, shape economic research, and ensure that VAR policies are best serving members. Apply to be a committee member to have your voice heard and get your seat at the table.

Click here to learn more about VAR’s Committee options and/or submit your application. (You will need your NRDS/M1 number to log in.) The deadline to submit your application is Friday, June 14^th at 11:59PM. Questions? Contact RVAR CEO Laura Benjamin.

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 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

The ABCs of Foreclosure: Instructor Bob Hartman of RealStar, REALTORS® will address everything from registering on the HUD foreclosure site, to submitting a bid and then the steps from an accepted bid to closing. Click here to register for this class on Tuesday, June 18^th, 11:00AM – 12:30PM. This class provides two options to attend (1) attend in person (limit of 40) or (2) attend via Zoom. 

Leveraging AI in Your Business: RVAR’s Technology Committee is offering a class on Artificial Intelligence (AI), taught by Robert Turcotte with Entre Computer Center – including testimonials from four REALTORS® on how they currently use AI in their business. Click here to register for this class for Tuesday, June 25^th, 11:00-12:30PM. This class provides two options to attend (1) attend in person (limit of 40) or (2) attend via Zoom.

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 501 Agency in Virginia

June 4^th 9AM-12:30PM

June 5^th 9AM-12:30PM

Instructor: Donna Austin

This course will provide a detailed guide on important issues dealing with agency. Topics include brokerage relationships, agency disclosure, confidentiality and Code of Ethics requirements. CE Approved = 3 hours Real Estate Agency; 3 hours Real Estate Related; PL Approved - 3 hours VA Agency Law.

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.

Upcoming Events

2024 Platinum Level Partner/Sponsor