Courts around the country ruled on a large number of independent contractor misclassification cases in April 2017, with both good news and bad news for companies. When companies properly classify individuals as independent contractors, and maintain all the necessary formalities, courts are upholding these classifications. However, when a worker is misclassified, it can be costly. Seven- and eight-figure exposure is becoming commonplace for large and medium-sized business.
The Virginia REALTORS® offers resources such as an Independent Contractor Agreement (Form 1700) you can use with your agents. Check out the Commonwealth Magazine Article that talks about worker classification in Virginia.
The National Association of REALTORS® also offers a variety of resources and information on Independent Contractors.
~Laura M. Farley, Vice President of Legal Operations / Deputy General Counsel