The Northern Virginia Board of Realtors will hold its annual awards luncheon Friday at Vallee's Steak House. The board will also admit 62 new members.

Real estate courses on residential financing and selling techniques are being offered by the Arlington Distributive Education Service and the Northern Virginia Board of Realtors. For information, call 558-2581.

Regent Realty of Falls Church has joined the Century 21 national real estate franchise program. Headed by Richard E. Smith, the firm has 22 licensed agents.

Fairfax County Sheriff James D. Swinson received the distinguished service award of Better Homes Realty at the firm's annual awards luncheon. Ross Ward was the winner of the salesman of the year award for $2.8 million in residential sales. He also won the award in 1974 and 1975.

National Capital of Maryland announced that the firm has arranged financing for the development of the 120-acre Simpson Woods tract, where homes ranging from $80,000 will be built on wooded, one-acre lots. The site is near Columbia, Md. Construction of models has already begun.

John Bolton has been named sales manager at Coventry Estates, a residential community 17 miles west and northwest of Fredericksburg, Va. Lots range from five to 13 acres and start at $5,000 an acre. The 388-acre site is near Goldvien, Va.

The Alexandria Adult Distributive Education Department and the Northern Virginia Board of Realtors will offer a course in real estate license preparation beginning Jan. 31 at T.C. Williams High School. For information call 836-2812.

A seminar on the effect of the new Tax Reform Act on real estate will be held Monday, starting at 8:30 a.m., at the Sheraton-Lanham by the Association of Tax Consultants, a non-profit organization of tax-preparers. The $35 fee includes lunch and snacks. James McCarthy of General Business Services will conduct the seminar. For information, call 4594520.