Mark your calendar for special onsite events at the upcoming Virginia REALTORS® Legislative Advocacy Conference. Don’t miss out on the premier opportunities for networking, education, and advocacy. Featured events include Tuesday night’s RPAC Awards & Reception, Wednesday’s REALTOR® Prayer Breakfast and also Day on the Hill Briefing, and keynote lunch with national political star Dr. Larry Sabato. Details of each day’s full itinerary are available on the event site, and, if you are already registered, you can update your registration here for attendance at these special sessions. Contact Glenda@varealtor.com | 804-249-5710 or Lili@varealtor.com | 804-249-5704 for details.
Virginia REALTORS®’ Laura Farley offers clarification on the Virginia Real Estate Board (VREB) Guidance Document regarding reasonable accommodation requests for assistance animals. Click the video to watch.
Land broker and member of the Blue Ridge Association of REALTORS® (BRAR), Brad “B.K” Haynes proves that with hard work and determination, success is in reach at any age.
When B.K. began his real estate career in 1966, his sights were set high on becoming successful. Motivated by the idea of living an exceptional life, then 32 year old Haynes was determined to push past his own perceived limits by instilling the idea of never giving up. Now, with over 50 years of experience being a land broker, B.K. has developed and sold over 300 square miles of land for rural home sites. His energy extends beyond real estate, too. Inspired by his creativity and love for writing, he is the author of three books. His most recent title, ‘Racin’ Past 80,’ encourages and advises prosperity for seniors. When it comes to success B.K. Haynes proves that age is really just a number.
After a long career, what tip would he share with fellow REALTORS®? “Have a definite idea of what you want to accomplish and follow through to get there – be specific with your goals.”
What’s going on in your REALTOR® experience? We want to share your story – big, small, uplifting, forewarning – so tell us about your inspirations, obstacles, and lessons. Contact us at Outreach@varealtor.com. Submissions are welcomed on a rolling basis.
The Virginia General Assembly convenes on January 11th to begin its annual session of developing and deliberating the laws that govern our state, including those that affect your business. This year, we’ll offer a special weekly summary to keep you in the know about our efforts to protect your business, broaden your opportunities, and enhance access to homeownership. Be on the lookout for details of our legislative agenda, updates on important activity, and calls to action on REALTOR® issues. Together, we are shaping the future of real estate.
The Federal Housing Administration made an announcement on Monday, January 9th to cut fees, effectively lowering the financing cost for first-time home buyers. Set to take effect January 27th, the fee cut may alleviate the burden of rising interest rates for entry level buyers. Mortgage insurance premium fees would be reduced by a quarter of one percent, or 25 basis points, providing first-time home buyers who lack down payment capital with a little relief in their loan cost. The change is projected to save first-time home buyers an average of $500 in 2017.
According to National Association of REALTORS® President William Brown, “Dropping mortgage insurance premiums today will mean a whole lot more responsible borrowers are suddenly eligible to purchase a home through FHA.”
Read more on this recent news here.
NOTE: researched and written by Britni Clark, Virginia REALTORS® Marketing and Communications Coordinator.
Introducing Storyboard: by and for Virginia REALTORS®
Virginia REALTOR® Trish Corvelli kicks off our new Storyboard feature with a valuable
lesson for those who are brand new to the business and seasoned members alike. Perseverance pays.
When Trish became a REALTOR® in 2003, she dove right into marketing herself and at the same time dove right into a neighbor’s unexpected ire. After following her broker’s advice to broaden recognition by leaving introductory material at homes in her area, she received an intensely angry email from a nearby neighbor. He was incensed that she had left material at his home, putting her ‘on notice’ that any further attempt at solicitation would result in legal action to defend his property rights against trespass. New to the business, Trish was stunned at the outrage to her innocuous introduction. But she kept her cool and emailed a sincere apology for the seeming intrusion. The follow up response was just as surprising as the initial anger. ‘Gary’ appreciated not only that she had taken his complaint to heart, but that she had the courage to extend herself despite his stern warning.
His words commended her effort and are an enduring lesson for all REALTORS®: “Be patient, use your instincts, set yourself apart from the rest of the crowd, when it gets tough hang in there, and you’ll do well in your new endeavor.”
The ultimate outcome? A (surprising) new friend who became a client AND a source of three referrals.
Ready to share your REALTOR® story? We want to hear about your experiences, inspirations, and obstacles. Contact us at Outreach@varealtor.com. Submissions are welcomed on a rolling basis.
We are adding a new content stream to our blog, newsletter, and social media. And, it’s all about… YOU.
Every week, we will feature a member story – a business story, an account of community impact, thoughts on a topic of particular interest, RPAC inspiration and more. Do you have a story or idea to share with your statewide business peers? We want to hear from you about your challenges, inspirations, client service, networking, community engagement, and association involvement. To submit an idea, contact Outreach@VARealtor.com.
Please note that stories will be vetted before appearing on Virginia REALTOR® channels and will not reduplicate legal resources.
On January 1, 2017, Virginia REALTORS® released one new form, Form 670 – New Construction Contract of Purchase. Additionally, 8 forms were updated:
- Form 400 – Exclusive Authorization to Sell
- Form 410 – Exclusive Authorization to Sell – Limited Service Representation
- Form 420 – Independent Contractor Listing Agreement
- Form 450 – Exclusive Buyers Brokerage Agreement
- Form 460 – Non-Exclusive Buyers Brokerage Agreement
- Form 920 – Tenant Representative Independent Contractor Agreement
- Form 975 – Listing Agreement – Exclusive Right to Lease
- Form 980 – Exclusive Right to Represent Tenant
Laura Farley, Vice President of Legal Operations and Deputy General Counsel, explains the new form and the changes made to the brokerage agreements. Click the video to watch.
VAR’s Erin Barton discusses the Virginia Real Estate Board regulations governing property management escrow accounts. Topics covered include account set-up and maintenance, broker responsibility, timelines for deposit, escrow disbursement, and differences between security deposits, application deposits, prepaid rent, and monthly rent. Click the video to watch.
The 2017 Legislative Conference will feature an educational session (for CE credit) on the most current VHDA loan program information. VHDA has modified many program guidelines and introduced several new creative loan programs to make housing more affordable for even more potential homebuyers. Information addressing common myths and misconceptions concerning VHDA programs and guidelines will be provided. The seminar has been designed specifically for REALTORS®.
Don’t miss this opportunity and the other continuing education opportunities at the conference. Explore registrations options here.