New laws effective July 1, 2012

2012 was the type of session that one can expect once per decade. With legislative redistricting and elections in new districts having ushered in a host of new members in both the House of Delegates and the State Senate, and with multiple retirements of more senior members (voluntarily or otherwise), the General Assembly had to find a new working balance and flow — and this was complicated by a 20-20 tie in the State Senate between Republicans and Democrats. Lieutenant Governor Bill Bolling was able to break ties on most issues — but not on all. He could not, for example, vote on the budget, or on judicial nominations.

Social and “hot button” issues were in the forefront more frequently than is customary in Virginia — partly the result of national organizations and interests working in each state legislature rather than at the federal level, where gridlock has continued for several years.

Against that preface, the Virginia Association of REALTORS® proposed a conservative agenda this year. We achieved favorable results, some of which will affect the way you will do business.

We sincerely hope that these changes will benefit the public and help you in the practice of real estate — and each year we look for ways to make your job easier, more secure, and less complicated.

ISSUES FOR 2012 included:

• Changes to agency and professionalism
• New supervision for appraisal management companies
• Landlord and Tenant law changes
• Limits to fire safety inspection fees
• Limits to condo resale document demands
• Owner-financers aren't regulated as lenders
• Reducing tenant utility liens 

CLICK HERE to visit the New Laws page and read the whole story. Brokers can access additional tools to help with sales meetings, including a PPT presentation, a short video, and more.