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Important clarification about license transfers
Wednesday, March 13, 2013

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:

  • You can only resume your practice when DPOR has approved your application.

You may have been told or taught that you can practice real estate when DPOR receives your transfer application. This is incorrect.

Once again: If you switch firms, your license does not take effect until the transfer has been approved by DPOR.

IDX listings and your liability
Tuesday, March 12, 2013

Quick summary: No, you are not liable for listings that come to your site via an IDX feed.

You may have seen the story that started with a blog post on Active Rain from Jeff Launiere, a Realtor in Clearwater, Fla.

Distilled version: Like many Realtors, Jeff had an IDX feed coming into his website, with all the listings from his area.

We as agents have absolutely no control over the listings that are on our websites. The feed comes directly from the Multiple Listings Service (MLS) and you either show all listings, or none.

New legal video: Unauthorized Practice of Law
Tuesday, March 5, 2013

What constitutes the unauthorized practice of law? Hint: Better think twice before writing that contract for a fee if you're not a part of the transaction. Blake walks you through the most common instances where this very dangerous practice occurs.

CLICK HERE to check out other legal hotline FAQ videos.

FHFA unveils plan to replace Fannie and Freddie
Tuesday, March 5, 2013

Fannie Mae and Freddie Mac will begin winding down, with a new company taking their place. That’s the plan unveiled by the acting director of the Federal Housing Finance Administration — the agency that has overseen Fannie and Freddie since they were taken over by the government in 2008.

In a conference call with reporters, Edward DeMarco outlined the plan to create a new company that would combine the mortgage-securitization operations of the two government-owned enterprises.

DPOR’s new system is up and running
Monday, March 4, 2013

About 10 days ago we told you about how the installation of DPOR’s new computer system was going to put license-processing on hold for a week or so. Well, it’s done.

The new database is up and running, although it could take a few weeks for the DPOR folks to be fully acclimated to their new electronic digs. So expect delays even now.

In fact, DPOR has a handy FAQ for licensees about migration to the new system — click here to read it (PDF).

One of the more important sections:

Effects of sequester will take time — and could be big or small
Monday, March 4, 2013

Although the government’s across-the-board budget cuts (aka “the sequester”) officially went into effect March 1, most of the effects won’t be seen for a while. It’s the government, after all, and like any monstrous bureaucracy it takes a while to get things going.

As Major General Karen Dyson — the U.S. Army’s budget director — explained to NPR, “It really sort of manifests itself over time.”

EarthCraft Training
Friday, March 1, 2013

Looking for effective ways to market EarthCraft-certified buildings?  The EarthCraft program provides a training class that teaches the principles of green building.  In addition, you’ll learn the specifics of the EarthCraft program in order to successfully present and market sustainably built, green homes.

The three-a-half-hour EarthCraft Real Estate Professional class teaches participants the fundamentals of the EarthCraft program, providing expert guidance on strategies for presenting and marketing sustainably built homes to sales prospects.

The class will discuss:

VAR’s work pays off — transportion bill passes
Wednesday, February 27, 2013

We asked and you responded – Realtors from across the state put pressure on their representatives in the Virginia General Assembly, which – after much debate, arguing, and compromise – passed a bipartisan transportation bill that Governor Bob McDonnell is expected to sign.

Licensee competency town hall coverage
Monday, February 25, 2013

Basic training is just that — basic. When you get a real estate license, it means (or should mean) that you have a solid, basic knowledge of how to conduct a real estate transaction. It’s the equivalent of knowing how to steer, accelerate, and break — it doesn’t mean that you’re ready to take on the Washington Beltway at rush hour[*].

So while new licensees may not be ready to practice real estate on their own, they should be ready to be ready. The foundation should be built; experience will take care of the rest.

RPR hosts a free webinar for Virginia brokers
Monday, February 25, 2013

Be here the ides of March Have you used the Realtors Property Resource today? It’s one of the most powerful tools available to members, and to help you get the most out of it, VAR and NAR are offering a series of live webinars specifically to show Virginia Realtors the in-the-trenches uses of RPR.

The Realtors Property Resource is essentially a giant database — actually a set of databases — of every property in the country.