Great news! With Governor Glenn Youngkin’s deadline to sign, amend, or veto all passed legislation now having passed, the Virginia REALTORS^® legislative agenda is nearly complete. The Governor signed the following bills:

• Deed Fraud Advisory Group

• Buyer Representation (Legislation which now requires a buyer’s agent to have a written agreement before showing a property.)

• Transfer Fees

• Common Interest Community (CIC) Deductibles

These bills will become law effective July 1, 2025.

Governor Youngkin also made a slight change to the Virginia REALTORS^® legislative proposal regarding qualifications to serve on the Virginia Real Estate Board, amending the overall years of service required from ten years to seven. With enhanced criteria for service, specifications on areas of expertise, and requiring active participation as a real estate licensee all remaining in the legislation, your Government Relations team feels this legislation remains a vast improvement over the status quo. Our hope is that this amendment will be accepted by the legislature on April 2nd when the legislature reconvenes to address all of Governor Youngkin’s amendments and vetoes.

If you missed the detailed recap from this year’s General Assembly Session, you can find that here. As always, please keep an eye out for updates from our legal department on new laws and how they might impact your business.