|Name||Approval #||Total Hours||Elective Hours||Mandatory Hours||Sale Price|
|Virginia Residential Standard Agency (RSA) (On-line)||16387||3||0||3||$29|
According to NAR’s 2011 Legal Scan, more than two times as many statutes and regulations were added to address agency issues than any other major topic in real estate. Failure to safeguard the interests of the public, failure to maintain and manage escrow accounts, and engaging in improper, fraudulent, or dishonest conduct – all issues related in some way to agency duties – were named as the top three complaints against real estate licensees in Virginia. In ARELLO’s 2012 Digest of Real Estate License Laws and Current Issues, the Commission named Agency Disclosure as one of the top three issues forming the basis for disputes today, and anticipated this will remain true for the next two years at least. This three-hour course provides a summary of Virginia residential agency laws effective July 1, 2012. It incorporates new agency legislation passed during the 2011 legislative session, and some technical amendments planned for introduction in the 2012 sessions. In addition, new agency disclosure forms, mandatory July 1, 2012, are discussed.
Course highlights include:
- Review of the agency relationships allowed in Virginia and their corresponding disclosure requirements.
- Discussion of agency duties and what they look like in practice.
- Scenario-based activities for students to apply the legal guidelines in context.