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A Letter of Good Standing refers to a notice issued by the REALTOR® association with which a real estate licensee has a current or former relationship. It verifies that the active REALTOR® has complied with all of the associations’ rules and bylaws for conducting business within that association.
A Letter of Good Standing will contain information confirming that a licensee is up-to-date on National, State, and/or Local association dues; includes the licensee’s state license and the firm the license is affiliated with; confirms the licensee has satisfied NAR’s mandatory requirements; and states whether the licensee has current/pending disciplinary action or unsatisfied fines with the association.
Industry professionalism is key to ensuring that Realtors® remain at the center of the real estate transaction. As technological advances and changing business structures alter the traditional real estate landscape, the association is a professional ally. NVAR, Virginia Realtors® and the National Association of Realtors® collaborate to offer Code of Ethics education and enforcement, effective political advocacy, and a robust consumer advertising campaign. Digital, print and email communications deliver industry and association news to advance knowledge, and the profession.