Caveat REALTOR®

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 have a signed brokerage agreement!).

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. Finally, they discuss how you can limit your risk and protect your earnings.

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 other reason.

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 using Standard Forms, and understanding the language in those forms.

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 of a transaction.

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 you can limit your risk when it comes to commissions.

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 if they refer me clients?”. Finally, they tell you how to best limit your risk when it comes to RESPA.

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 agency.