Fairfax, Virginia Real Estate Attorneys for Brokers and Agents

Lawyers Helping Real Estate Agents and Brokers Address Legal Concerns in Fairfax, VA

Real estate brokers and agents in Virginia will need to maintain compliance with state laws and address a variety of complex legal concerns as they serve clients. They may encounter legal challenges related to property transactions, licensing, fiduciary duties, and potential liabilities. Brokers and agents may also need to address claims from dissatisfied clients, allegations of misconduct, or disputes over disclosures and representations. Allegations of misconduct could lead to investigations or disciplinary actions by the Virginia Real Estate Board.

Understanding the protections available under Virginia law and the options for addressing legal issues is crucial to ensure that real estate agents and brokers can maintain successful real estate practices. At Fox & Moghul, we have extensive experience in real estate law, and we can provide effective representation to help real estate brokers and real estate agents address and resolve any concerns they may encounter.

Virginia's Regulatory Framework for Real Estate Agents and Brokers

Virginia Code Section 54.1-2100 and its subsequent sections offer a comprehensive regulatory framework for real estate brokers and real estate agents in Virginia. These regulations are further elaborated in the Virginia Administrative Code (VAC), which is overseen by the Virginia Real Estate Board. A real estate broker must be licensed to practice in Virginia, as mandated by Va. Code Ann. § 54.1-2100. This licensing requirement aims to protect the public from fraudulent and incompetent practices. You can verify a broker or agent's license at the Department of Professional and Occupational Regulation (DPOR) website.

Facing Disciplinary Actions: How Fox & Moghul Can Help

As the leading firm providing real estate services in the Fairfax area, Fox & Moghul has successfully represented numerous real estate brokers and real estate agents facing disciplinary actions. The Virginia Real Estate Board has the authority to impose fines and suspend or revoke licenses for violations of the statute or its regulations.

Disciplinary cases may be related to allegations of misrepresentation, failure to disclose material facts, or mishandling client funds. Fox & Moghul can provide skilled legal advocacy to help real estate agents and brokers protect their professional reputations while minimizing the potential penalties they may face. By thoroughly analyzing the allegations, preparing a strong defense, and navigating the administrative process, Fox & Moghul helps brokers and agents safeguard their careers.

Fiduciary Duties of Real Estate Agents and Brokers

The relationship between real estate agents and their clients is considered a fiduciary one under Virginia law. Agents and brokers are required to "exercise ordinary care" and fulfill specific duties, including:

• Contract performance
• Promoting the buyer's interests
• Timely presentation of offers and counteroffers
• Maintaining client confidentiality
• Accounting for all money and property received

Failure to uphold these fiduciary duties can lead to legal claims or disciplinary actions. Whether the issue involves a breach of confidentiality or failure to properly handle escrow funds, Fox & Moghul works with brokers and agents to mitigate risks, resolve disputes, and ensure compliance with Virginia law.

Liability and the "Broker Shield" Statute

Virginia Code 54.1-2142.1, commonly known as the "Broker Shield" Statute, generally protects real estate brokers and agents from being held responsible for inaccurate information provided by others, such as property owners or third parties, unless they knowingly or recklessly convey false information. For instance, if a seller provides incorrect details about the condition of a property, and the broker shares this information in good faith, the broker may not be held liable under the statute. However, agents must remain vigilant to avoid knowingly endorsing or distributing false or misleading information.

At Fox & Moghul, we help brokers and agents understand the boundaries of their legal protections, and we can provide guidance on the best practices to prevent claims of recklessness or intentional misrepresentation. Should a dispute arise, we diligently defend our clients against claims of liability by leveraging the statutory protections afforded by the Broker Shield law.

Contact Our Fairfax Real Estate Broker and Agent Lawyers

Real estate brokers and agents in Virginia face a wide range of legal and regulatory challenges. Whether you need assistance defending against disciplinary actions, navigating your fiduciary responsibilities, or understanding the scope of the Broker Shield Statute, Fox & Moghul is here to help. Our firm is highly experienced in all aspects of legal compliance for real estate agents and real estate brokers. Contact us today at 703-652-5506 to set up a consultation.

Fox & Moghul is not just a law firm; we are educators in the field. See our CLE Seminar on "Examining A Real Estate Broker's Liability to the Purchaser In Residential Real Estate Transactions In Virginia."