VAR's Agency Center is now online
Agency: It’s a simple word that describes a complex set of relationships that Realtors® engage in every day. Its complexity is evidenced by the volumes of books written about it, the fact that it is taught as a semester course in law school and, most importantly, the way it is misunderstood in everyday real estate practice.
The Virginia Association of Realtors® worked to help develop legislation to enhance the agency relationship disclosure requirements between licensees and those they represent. This means there are a number of changes to the existing agency laws in Virginia, and VAR wants to make sure that all members are up to speed on what they need to know to serve their client and customers and stay in compliance with Virginia laws.
VAR's Agency Center covers a lot of ground, including:
- Agency law basics
- An overview of the upcoming 2012 changes to the law
- Information on the required disclosures and VAR standard forms and contracts
- Training and education information
- A statewide course calendar
- Videos and other resources
CLICK HERE to check out the growing library of resources in VAR's Agency Center.
Why the change?
- Inform the consumer: The law is to make sure consumers are fully informed about the real estate services they'll receive and the nature of the relationship with the licensee.
- Mitigate REALTOR® liability: The law is designed to protect licensees by making sure full disclosure is provided and the nature of brokerage relationship is reduced to writing. It's to eliminate much of the consumer confusion that can come back and bite the licensee.
- Discourage opportunisitic dual agency: The law is intended to make sure that licensees who practice dual agency are fully informing consumers about the risky nature of that relationship.