If you go by the Classroom, you'll see what's coming for newer agents who need a walkthrough on the contract, home inspection, financing contingencies, LBP and the DPOR disclosure form. These are the base forms required when an agent writes their first contract. I intend to create several other courses to release on the new-agent (and review) agent population who uses the NVAR forms. I would really appreciate any feedback you guys can provide!

In the 2000’s this is about the fourth shutdown of the federal government. It has an effect on the northern Virginia real estate market but not as much as you might imagine. We have about 81,000 federal employees. That does not include the contractors who do a lot of the work on the federal contracts. During the last two shut downs in 2012 and 2018, the number of listings and sales and contracts written did not really deviate much from the year before. Less than 1% less contracts being written and fewer listings being put on the market. The shut down seems to have a more of a psychological effect and a disruption in employment for the future, but it doesn’t really affect the market. Employees will be made whole with lost wages, returned to them once the government opens up again. So on the short term, they have to budget really tight and some will delay either moving into a new home or selling the one they’re in.

How do I get a BPO for my Listing?

Any worker in Virginia performing electrical and plumbing work must have a Virginia license to conduct their trade in the state. ( If they work on projects more than $1000, they also must carry a contractors license.) Licenses for trades work is required for • electrical • plumbing • gas fitting and mechanical • HVAC There are three levels of contractors in Virginia: (https://www.procore.com/library/virginia-contractors-license) Class A contractors perform or manage construction, removal, repair, or improvements when (i) the total value referred to in a single contract or project is $120,000 or more, or (ii) the total value of all such construction, removal, repair, or improvements undertaken by such person within any twelve-month period is $750,000 or more. Class B contractors perform or manage construction, removal, repair, or improvements when (i) the total value referred to in a single contract or project is $10,000 or more, but less than $120,000, or (ii) the total value of all such construction, removal, repair, or improvements undertaken by such person within any twelve-month period is $150,000 or more, but less than $750,000. Class C contractors perform or manage construction, removal, repair, or improvements when (i) the total value referred to in a single contract or project is over $1,000 but no more than $10,000, or (ii) the total value of all such construction, removal, repair, or improvements undertaken by such person within any twelve-month period is no more than $150,000.

This is for the NVAR Listing Agreement Addendum called the Optional Buyers Broker Compensation form. WATCH THE VIDEO AS YOU READ THIS ARTICLE! IT'S A TRANSCRIPT. Please explain the two choices on the compensation this one keeps on coming up. So before we get into the two options on the listing addendum, I want to go back to the listing agreement on paragraph seven, optional seller paid buyers broker compensation. Alright, so you have two boxes. The seller authorizes or does not authorize the broker to disclose to prospective buyers and brokers representing buyers of what? What am I disclosing? What are you authorizing me of? The seller's willingness. To negotiate with buyer regarding seller's payment of buyer's broker compensation. So it starts here. If they check, yes, authorize, then you go to the um, the addendum and it says, you got two boxes here, and this is where the confusion comes in. Which one do I check? You check one. Or both. If you've checked, authorized on the listing agreement, then you're at least gonna check one. The seller is willing to pay buyers broker compensation up to, and you put in how much that's going to be. Now, are you then authorized to disclose and market that amount to buyers and buyer agents? That would be the second button. So if you don't check the second button, you do. You can say he's willing to pay. She's willing to pay, but you cannot disclose how much. The second box is what's required for you to disclose, Hey, it's, you know, like, you know, it is 25 bananas, or whatever it is. That's how you are able to get permission to disclose how much it is. I'm seeing about six in one hand, half a dozen, the other on this being filled out by sellers. In practice, sellers are choosing both ways - to authorize to let buyer agents know they will CONSIDER paying compensation, and the majority are NOT placing in the second box, how much that compensation is - so it's up to the buyer and their agent to insert it on the front page of the contract and let the negotiation begin!