Brokers: There is no shortage of new rules, regulations and stuff to keep up with this year. Here are a few things to keep in mind and be aware of as we near the mid-point of 2008:
- Virginia real estate brokers will be required to earn eight hours of broker management continuing education for all broker license renewals occurring on or after July 1, 2008. This is a new requirement. You can earn your broker management CE at VAR’s Convention & Expo 2008 or at an upcoming Risk Management Road Show. You can also contact your local association to see if they are offering broker management CE.
- Many of the laws passed in the 2008 General Assembly go into effect on July 1, 2008. VAR has just released an electronic brochure outlining those changes for distribution to all brokers. Download it now.
- VAR successfully lobbied for major revisions to the laws governing Property Owners Associations, Home Owners Associations and Condominium Owners Associations in the 2008 General Assembly session. On June 20, Lem Marshall, VAR’s special counsel, will lead an interactive webcast summarizing changes to the laws. Come armed with your questions and hear how these sweeping changes will affect you and your clients. Check with your local association to see if they will be hosting a site for this important webcast.
- As a reminder, the Virginia Real Estate Board implemented new regulations effective April 1, 2008. If you haven’t familiarized yourself with the changes, please review this summary prepared by VAR. You can download the updated regulations in full from VREB’s website.
- The first deadline for NAR’s mandatory quadrennial REALTOR® ethics training is December 31, 2008. Encourage your agents to complete the 2 ½ hours of training early. REALTORS® can earn one free hour towards the requirement by completing the 16 ethics lessons at TheCodeIsGoodBusiness.com or check with your local association to see if they are offering ethics training. Update: The 16 ethics lessons at TheCodeIsGoodBusiness.com count towards Virginia real estate license continuing education credit requirements, but not towards NAR’s 2 ½ hour ethics training requirement.