What's Happening At WAAR

Links to Hurricane Florence Resources

Hurricane Florence has the potential to impact hundreds of thousands of homes and commercial buildings. According to estimates, some 750,000 U.S. homes are at risk of coastal storm surge, and up to $170 billion in property damage is possible across the Carolinas and Virginia. NAR has compiled links that can be helpful to you and your customers preparing for and responding to the aftermath of the storm. NAR is also calling on Congress to pass long-term reauthorization and reform of federal flood insurance, which is critical for healthy property markets throughout the country.

To donate to the REALTORS Relief Foundation to help victims of the storm damage, visit: https://www.nar.realtor/about-nar/grants-and-funding/realtors-relief-foundation/donate-to-rrf.  

Education Changes Go Into Effect 1/1/2019

The following changes were accepted by the Real Estate Board by the VREB Education Committee on July 12, 2018: 

Post License Education

 There will be a two-hour real estate finance class added to the mandatory classes.  The total hours required remains at 30 hours.  The Real Estate Law and Regulations category will be reduced from eight to six hours.  The following will be the required curriculum effective 1/1/19.

• Fair Housing, ADA and Civil Rights (two hours)
• Real Estate Law and Regulations (six hours) effective 1/1/19.
• Ethics and Standards of Conduct (three hours)
• Current Industry Issues and Trends (two hours)
• Agency Law (three hours)
• Contract Writing (six hours)
• Risk Management (three hours)
• Escrow Requirements (three hours)
• Real Estate Finance (two hours) effective 1/1/19

How does this affect new licensees whose license expires after 1/1/19?

1. If they have completed their 30 hours of education prior to December 31, 2018, their education requirements will be considered complete.
2. If they have not completed their 30 hours of education prior to December 31, 2018, they will need to take an approved real estate finance class to complete their education requirements.

Broker Management/Supervision Education

Of the eight hours of broker management/supervision education, a two-hour class specific to the broker supervision requirements under Virginia and Board regulations will be required.

How does this affect licensees whose license expires after 1/1/19?

1. If they have completed their 8 hours of broker management/supervision education prior to December 31, 2018, their education requirements in this category will be considered complete.
2. If they have not completed their 8 hours of broker management/supervision education prior to December 31, 2018, they will need to take an approved 2-hour class on the regulations to complete their education requirements.

Thanks to our 2018 WAAR Affiliate Marketing Partners!

Please consider our affiliate partners when doing business in 2018. They are:

PLATINUM PARTNERS:

• Atlantic Bay Mortgage Group
• Movement Mortgage

SILVER PARTNERS:

• Prime Lending
• Fulton Mortgage Company
• Shaheen Law Firm, P.C.
• Bank of America
• Pillar to Post
• Wells Fargo
• Ford's Colony Country Club
• Finance of America Mortgage
• STAT Services

ENTRY LEVEL PARTNERS:

• US Inspect
• Middle Peninsula Insurance & Financial Services
• First Light Imaging, LLC
• Middle Peninsula Insurance
• Blue Heron Title Company
• Village Bank Mortgage