On January 1, Virginia REALTORS® published updates to its Standard Forms library, a free collection of forms and contracts available exclusively to members. These forms are designed specifically for use on a state-wide basis, to comply with laws of general application in the State of Virginia. In this latest round of updates, one new standard form was published, two existing forms were deleted, and amendments were made to ten standard forms.
Virginia REALTORS® updates its standard forms on January 1 and July 1 of each year, unless there is a legal or regulatory change requiring an immediate change. Forms are routinely reviewed for changes in law, regulations, and business practices by the Standard Forms Subcommittee and the Risk Management Committee. We also consider suggestions and requests from members that are sent to firstname.lastname@example.org.
Starting in 2015, Virginia REALTORS® began adding both a “revised date” and “reviewed date” to all forms so that members would know that forms were routinely being reviewed, even if changes were not made. This addition is being rolled out in stages, as forms are reviewed/revised.