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Update on license transfers: helpful tips to ensure a speedy process

A concern among Realtors® who change firms is the amount of time it takes for their licenses to become active with their new brokerages.

Important clarification about license transfers

When a Realtor transfers her license from one brokerage to another, there is a period of time in which she cannot practice real estate (essentially, while the transfer is in progress).

Some members have received incorrect information about when they can resume practicing.

Here is what DPOR says:

Flood insurance premiums increase for some properties

Flood insurance premiums are going to start going up for second homes, and for properties that have had significant flood damage before.

Starting January 1 of this year, flood insurance premiums on second homes (including vacation homes) went up 25 percent. And in June, properties that have seen “severe repetitive loss” from floods will also see insurance rates increase.

That’s because federal subsidies for flood insurance are being reduced for those kinds of properties — part of the National Flood Insurance Program’s reauthorization last year.

Virginia Residential Landlord Tenant Act - Richmond Association of REALTORS®

Virginia Residential Landlord Tenant Act - “Learn About the Changes”
Get up to speed on the recent changes to the Virginia Residential Landlord and Tenant Act. Designed for both real estate brokers and sales persons, this course offers:
-Detailed review of lease applications
-A “how to” guide for broker agent compliance
-The awareness and information you need to protect your business

Date: 
Fri, 05/10/2013 - 09:00 to 16:00

VAR to advise governor on upcoming REB appointment

The Virginia Real Estate Board is composed of seven real estate licensee members and two citizen members, all appointed by the governor and confirmed by the General Assembly. The term of office is four years.

The current term of one licensee member expires on June 30, 2013, and the governor will shortly determine whom he’ll appoint. The current appointment is eligible for reappointment.

Categories: 

Virginia getting $3.5 million more for housing settlement

Back in 2012, Virginia received about $66 million from the National Mortgage Settlement — the money paid by mortgage lenders for falsifying records, forging signatures, and otherwise ignoring the law so they could foreclose more quickly.

Now Lender Processing Services, which worked with lenders, was also caught breaking the law. As Illinois Attorney General Lisa Madigan told the Chicago Sun-Times:

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