reglab/statecodes huggingface dataset:
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 11 - PUBLIC PARTICIPATION GUIDELINES › Part III - Public icipation Procedures › Section 18VAC135-11-90 - Meetings

Current through Register Vol. 40, No. 24, July 15, 2024
Notice of any open meeting, including meetings of a RAP or
					 NRP, shall be posted on the Virginia Regulatory Town Hall and Commonwealth
					 Calendar at least seven working days prior to the date of the meeting. The
					 exception to this requirement is any meeting held in accordance with §
					 2.2-3707D of the Code of Virginia allowing for contemporaneous notice to be
					 provided to participants and the public.
Statutory Authority
§§ 2.2-4007.02, 54.1-201 and 54.1-2105 of the
						Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 11 - PUBLIC PARTICIPATION GUIDELINES › Part III - Public icipation Procedures › Section 18VAC135-11-100 - Public hearings on regulations

Current through Register Vol. 40, No. 24, July 15, 2024
A. The agency shall indicate in its notice of
				  intended regulatory action whether it plans to hold a public hearing following
				  the publication of the proposed stage of the regulatory action.
B. The agency may conduct one or more public
				  hearings during the comment period following the publication of a proposed
				  regulatory action.
C. An agency is
				  required to hold a public hearing following the publication of the proposed
				  regulatory action when:
1. The agency's basic
				  law requires the agency to hold a public hearing;
2. The Governor directs the agency to hold a
				  public hearing; or
3. The agency
				  receives requests for a public hearing from at least 25 persons during the
				  public comment period following the publication of the notice of intended
				  regulatory action.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 11 - PUBLIC PARTICIPATION GUIDELINES › Part III - Public icipation Procedures › Section 18VAC135-11-110 - Periodic review of regulations

Current through Register Vol. 40, No. 24, July 15, 2024
A. The agency shall conduct a periodic review
				  of its regulations consistent with:
1. An
				  executive order issued by the Governor pursuant to § 2.2-4017 of the
				  Administrative Process Act to receive comment on all existing regulations as to
				  their effectiveness, efficiency, necessity, clarity, and cost of compliance;
				  and
2. The requirements in §
				  2.2-4007.1 of the Administrative Process Act regarding regulatory flexibility
				  for small businesses.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-20 - Necessity for license (Refer to Section 54.1-2106.1 of the Code of Virginia)

Current through Register Vol. 40, No. 24, July 15, 2024
A. Sole
				  proprietor (principal broker owner). A real estate broker's license shall be
				  issued to an individual trading under an assumed or fictitious name, that is, a
				  name other than the individual's full name, only after the individual signs and
				  acknowledges a certificate provided by the board that sets forth the name under
				  which the business is to be organized and conducted, the address of the
				  individual's residence, and the address of the individual's place of business.
				  The board will consider the application of an individual only after the
				  individual is authorized to conduct business in accordance with Chapter 5
				  (§
										59.1-69
				  et seq.) of Title 59.1 of the Code of Virginia.
B. Sole proprietor (nonbroker owner),
				  partnership, association, limited liability company, or corporation. Every sole
				  proprietor (nonbroker owner), partnership, association, limited liability
				  company, or corporation must secure a real estate license for its firm before
				  transacting real estate business. This license is separate and distinct from
				  the individual broker license required of each partner, associate, manager of a
				  limited liability company, and officer of a corporation who is active in the
				  firm's brokerage business. Each applicant for such license shall disclose, and
				  the license shall be issued to, the name under which the applicant intends to
				  do or does business and holds itself out to the public. Each applicant shall
				  also disclose the business address of the firm. The board will consider the
				  application of any partnership, association, corporation, or limited liability
				  company only after the entity is authorized to conduct business in accordance
				  with Chapter 5 (§
										59.1-69
				  et seq.) of Title 59.1 of the Code of Virginia.
C. Each real estate firm is required to have
				  a principal broker whose license is in good standing with the board in order to
				  transact real estate business.
D.
				  Branch office license. If a real estate broker maintains more than one place of
				  business within the state, a branch office license shall be issued for each
				  place of business maintained. Application for the license shall be made on
				  forms provided by the board and shall reveal the name of the firm, the location
				  of the branch office, and the name of the supervising broker for that branch
				  office. The branch office license shall be maintained at the branch office
				  location.
Statutory Authority: §§
												54.1-201
						and
						54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-30 - Qualifications for licensure

Current through Register Vol. 40, No. 24, July 15, 2024
Every applicant to the Real Estate Board for an individual
					 salesperson's or broker's license shall have the following
					 qualifications:
1. The applicant shall
				  have a good reputation for honesty, truthfulness, and fair dealing, and be
				  competent to transact the business of a real estate broker or a real estate
				  salesperson in such a manner as to safeguard the interests of the
				  public.
2. The applicant shall meet
				  the current educational requirements by achieving a passing grade in all
				  required courses of §
										54.1-2105
				  of the Code of Virginia prior to the time the applicant sits for the licensing
				  examination and applies for licensure.
3. The applicant shall be in good standing as
				  a licensed real estate broker or salesperson in every jurisdiction where
				  licensed and the applicant shall not have had a license as a real estate broker
				  or real estate salesperson which was suspended, revoked or surrendered in
				  connection with a disciplinary action or which has been the subject of
				  discipline in any jurisdiction prior to applying for licensure in Virginia. The
				  applicant shall be in compliance with all the terms of all board orders,
				  including but not limited to paying imposed monetary penalties and costs, plus
				  any accrued interest and other fees, and completing imposed
				  education.
4. In accordance with
				  §
										54.1-204
				  of the Code of Virginia, each applicant shall submit to fingerprinting and
				  shall disclose the following information:
a.
				  All misdemeanor convictions involving moral turpitude, sexual offense,
				  non-marijuana drug distribution, or physical injury within five years of the
				  date of the application; and
b. All
				  felony convictions during his lifetime.
Any plea of nolo contendere shall be considered a
					 conviction for purposes of this subsection. The record of a conviction received
					 from a court shall be accepted as prima facie evidence of a conviction or
					 finding of guilt. The board, in its discretion, may deny licensure to any
					 applicant in accordance with §
												54.1-204
					 of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-40 - Additional qualifications for brokers

Current through Register Vol. 40, No. 24, July 15, 2024
An applicant for an individual license as a real estate
					 broker shall meet the following requirements in addition to those set forth in
					 18VAC135-20-30:
1. The applicant shall meet the current
				  educational requirements of § 54.1-2105 of the Code of Virginia.
2. The applicant shall have been actively
				  engaged as defined in
				  18VAC135-20-10 as a real estate
				  salesperson for a period of 36 of the 48 months immediately preceding
				  application. This requirement may be waived at the discretion of the board in
				  accordance with § 54.1-2105 of the Code of Virginia.
3. The applicant's experience must be
				  verified by the principal or supervising broker for whom the licensee worked at
				  the time of obtaining that experience.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-45 - Additional qualifications for salesperson's or broker's license as a business entity

Current through Register Vol. 40, No. 24, July 15, 2024
An applicant for a salesperson's license as a business
					 entity shall meet the following requirements in addition to those set forth in
					 18VAC135-20-30:
1. Every owner or officer who actively
				  participates in the real estate business shall hold a license as a salesperson
				  or broker. The business entity license does not replace the individual license.
				  More than one licensee may be a participant of the business entity.
2. When one licensee is the owner or officer,
				  the business entity shall be named in accordance with § 54.1-2106.1 C of
				  the Code of Virginia.
3. The board
				  will consider the application of any partnership, association, corporation or
				  limited liability company only after the entity is authorized to do business in
				  accordance with §§ 59.1-69 through 59.1-76 of the Code of
				  Virginia.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-50 - Concurrent licenses

Current through Register Vol. 40, No. 24, July 15, 2024
Concurrent licenses shall be issued by the board to
					 brokers active in more than one firm upon receipt of a concurrent license form
					 and written statements verifying that written notice of the applicant's
					 concurrent licensure status has been provided to the principal broker of each
					 firm with which the applicant is and will be associated. Payment is required
					 for each license. A concurrent license will not be issued to an individual
					 applying to be associated with a firm if that individual has an expired license
					 associated with the same firm and the expired license may be
					 reinstated.
Statutory Authority
§§ 54.1-201 and 54.1-2105 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-55 - Exchange to salesperson's license

Current through Register Vol. 40, No. 24, July 15, 2024
A broker who wants to exchange his license(s) for that of
					 a salesperson must submit a complete application with appropriate fee. When
					 exchanging the license(s), the licensee agrees his current broker's license(s)
					 ceases to exist, and if he chooses to become licensed as a broker again, he
					 must pass the current broker examination and must meet the current education
					 and experience requirements in effect at the time of
					 application.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-65 - Universal license recognition

Current through Register Vol. 40, No. 24, July 15, 2024
A. Licensed in
				  another state. The board will issue a salesperson or broker license under
				  universal license recognition to an individual who meets the following
				  qualifications:
1. The individual holds a
				  current and valid license with a similar scope of practice in another state,
				  territory, possession, or jurisdiction of the United States for at least three
				  years;
2. The individual was
				  licensed in the other state after having passed a state required exam and met
				  education, training, or experience requirements to obtain the
				  license;
3. The individual's other
				  license is in good standing with no reported pending complaints;
4. The individual has met the requirements
				  set in subdivision 4 of
				  18VAC135-20-30;
5. The individual has not been subject to
				  professional discipline involving harm to the public or license probation,
				  suspension, or revocation;
6. The
				  individual pays the reciprocity application fee as listed in
				  18VAC135-20-80; and
7. The individual successfully passes the
				  Virginia Real Estate Exam.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-70 - Activation or transfer of license

Current through Register Vol. 40, No. 24, July 15, 2024
A. Any inactive licensee may activate that
				  license with a licensed real estate firm or sole proprietorship by completing
				  an activate form prescribed by the board. A licensee who submits an activate
				  application to the board shall not conduct business with the real estate firm
				  or sole proprietorship set forth in the application until the application is
				  processed and the license is issued by the board. Continuing education pursuant
				  to § 54.1-2105.03 of the Code of Virginia shall be completed within two
				  years prior to activation of a license when the license has been inactive for
				  more than 30 days. Any licensee who has not been active with a licensed real
				  estate firm or sole proprietorship for a period of greater than three years
				  shall be required to meet the existing prelicense educational
				  requirements.
B. Any licensee may
				  transfer from one licensed real estate firm or sole proprietorship to another
				  by completing and submitting to the board a transfer application and the fee as
				  set forth in
				  18VAC135-20-80. The transfer
				  application shall include the signature of the new principal broker or
				  supervising broker with signature authority who will be responsible for the
				  licensee's real estate activities and shall be effective upon the principal
				  broker or supervising broker's execution of the transfer application.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part II - Entry › Section 18VAC135-20-80 - Application fees

Current through Register Vol. 40, No. 24, July 15, 2024
A. All application
				  fees for licenses are nonrefundable and the date of receipt by the board or its
				  agent is the date that will be used to determine whether it is on
				  time.
B. Application fees are as
				  follows:
Salesperson by education and examination
$150
Salesperson by reciprocity
$150
Salesperson's or broker's license as a business
								entity
$190
Broker by education and examination
$190
Broker by reciprocity
$190
Broker concurrent license
$140
Firm license
$250
Branch office license
$190
Transfer application
$60
Activate application
$60
C.
				  The fee for examination or reexamination is subject to contracted charges to
				  the board by an outside vendor. These contracts are competitively negotiated
				  and bargained for in compliance with the Virginia Public Procurement Act
				  (§ 2.2-4300 et seq. of the Code of Virginia). Fees may be adjusted and
				  charged to the candidate in accordance with these contracts.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-90 - Renewal required

Current through Register Vol. 40, No. 24, July 15, 2024
Licenses issued under this chapter for salespersons,
					 brokers, and firms shall expire two years from the last day of the month in
					 which they were issued, as indicated on the license, except concurrent broker
					 licenses which shall expire on the same date as the original broker
					 license.
Statutory Authority
§ 54.1-2105 of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-100

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-105

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-110 - Procedures for renewal

Current through Register Vol. 40, No. 24, July 15, 2024
Prior to the expiration date shown on the license, each
					 licensee desiring to renew the license shall return to the board the renewal
					 application forms and the appropriate fee as outlined in
					 18VAC135-20-120. Failure to
					 receive notices from the board regarding license renewal does not relieve the
					 licensee of the obligation to renew.
Statutory Authority
§§ 54.1-201 and 54.1-2105 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-120 - Fees for renewal

Current through Register Vol. 40, No. 24, July 15, 2024
A. All fees for
				  renewals are nonrefundable, and the date of receipt by the board or its agent
				  is the date that will be used to determine whether it is on time.
B. Renewal fees are as follows:
Salesperson
$ 65
Salesperson's or broker's license as a business
								entity
$ 90
Broker
$ 80
Concurrent broker
$ 80
Firm
$ 160
Branch office
$ 90
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part III - Renewal of License › Section 18VAC135-20-130 - Board discretion to deny renewal

Current through Register Vol. 40, No. 24, July 15, 2024
The board may deny renewal of a license for (i) the same
					 reasons as it may refuse initial licensure or discipline a current licensee;
					 (ii) failure to meet the terms of an agreement for licensure or other board
					 order; or (iii) failure to fully pay monetary penalties and costs imposed by
					 the board, plus any accrued interest.
Statutory Authority
§§ 54.1-201 and 54.1-2105 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part IV - Reinstatement › Section 18VAC135-20-140 - Failure to renew; reinstatement required

Current through Register Vol. 40, No. 24, July 15, 2024
A. All applicants for reinstatement must meet
				  all requirements set forth in 18VAC135-20-101. Applicants for reinstatement who
				  want to activate their license must have completed the continuing education
				  requirement in order to reinstate and activate the license. Applicants for
				  reinstatement of an inactive license are not required to complete the
				  continuing education requirement for license reinstatement.
B. If the requirements for renewal of a
				  license, including receipt of the fee by the board, are not completed by the
				  licensee within 30 days of the expiration date noted on the license, a
				  reinstatement fee is required as follows:
Salesperson
$ 100
Salesperson's or broker's license as a business
								entity
$ 135
Broker
$ 120
Concurrent broker
$ 120
Firm
$ 245
Branch office
$ 135
C.
				  A license may be reinstated for up to one year following the expiration date
				  with payment of the reinstatement fee. After one year, the license may not be
				  reinstated under any circumstances and the applicant must meet all current
				  educational and examination requirements and apply as a new
				  applicant.
D. A licensee may not
				  perform activities defined in §§ 54.1-2100 and 54.1-2101 of the Code
				  of Virginia with an expired license. Any real estate activity conducted
				  subsequent to the expiration date may constitute unlicensed activity and be
				  subject to prosecution under Chapter 1 (§ 54.1-100 et seq.) of Title 54.1
				  of the Code of Virginia.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part IV - Reinstatement › Section 18VAC135-20-150 - Board discretion to deny reinstatement

Current through Register Vol. 40, No. 24, July 15, 2024
The board may deny reinstatement of a license for (i) the
					 same reasons as it may refuse initial licensure or discipline a current
					 licensee; (ii) failure to meet the terms of an agreement for licensure or other
					 board order; or (iii) failure to fully pay monetary penalties and costs imposed
					 by the board, plus any accrued interest.
Statutory Authority
§§ 54.1-201 and 54.1-2105 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-155 - Grounds for disciplinary action

Current through Register Vol. 40, No. 24, July 15, 2024
The board has the power to fine any licensee or certificate
					 holder and to suspend or revoke any license or certificate issued under the
					 provisions of Chapter 21 (§
										54.1-2100 et seq.) of
					 Title 54.1 of the Code of Virginia and this chapter in accordance with
					 subdivision A 7 of §
										54.1-201
					 and §
										54.1-202
					 of the Code of Virginia and the provisions of the Administrative Process Act,
					 Chapter 40 (§
										2.2-4000 et
					 seq.) of Title 2.2 of the Code of Virginia, where the licensee or certificate
					 holder has been found to have violated or cooperated with others in violating
					 any provision of Chapters 1 (§
										54.1-100
					 et seq.), 2 (§
										54.1-200
					 et seq.), 3 (§
										54.1-300 et seq.),
					 and 21 (§
										54.1-2100 et seq.) of
					 Title 54.1 of the Code of Virginia, Chapter 10 (§
										55.1-1000 et seq.) of
					 Title 55.1 of the Code of Virginia, or any regulation of the board. Any
					 licensee failing to comply with the provisions of Chapter 21 (§
										54.1-2100 et seq.) of
					 Title 54.1 of the Code of Virginia or the regulations of the Real Estate Board
					 in performing any acts covered by §§
										54.1-2100 and
					 54.1-2101
					 of the Code of Virginia may be charged with a violation, regardless of whether
					 those acts are in the licensee's personal capacity or in his capacity as a real
					 estate licensee.
Statutory Authority: §§
												54.1-201
						and
						54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-160 - Place of business

Current through Register Vol. 40, No. 24, July 15, 2024
A. Within
				  the meaning and intent of § 54.1-2110 of the Code of Virginia, a place of
				  business shall be an office where:
1. The
				  principal broker, either through his own efforts or through the efforts of his
				  employees or associates, regularly transacts the business of a real estate
				  broker as defined in § 54.1-2100 of the Code of Virginia; and
2. The principal broker and his employees or
				  associates can receive business calls and direct business calls to be
				  made.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-165 - Duties of supervising broker

Current through Register Vol. 40, No. 24, July 15, 2024
Each place of business, each branch office, and each real
					 estate team shall be supervised by a supervising broker. The supervising broker
					 shall exercise reasonable and adequate supervision of the provision of real
					 estate brokerage services by associate brokers and salespersons assigned to the
					 branch office or real estate team. The supervising broker may designate another
					 broker to assist in administering the provisions required by this section, but
					 such designation does not relieve the supervising broker of responsibility for
					 the supervision of the acts of all licensees assigned to the branch office or
					 real estate team. Factors to be considered in determining whether the
					 supervision is reasonable and adequate include the following:
1. The availability of the supervising broker
				  to all licensees under the supervision of the broker to review and approve all
				  documents, including leases, contracts affecting the firm's clients, brokerage
				  agreements, and advertising;
2. The
				  availability of training and written procedures and policies that provide,
				  without limitation, clear guidance in the following areas:
a. Proper handling of escrow
				  deposits;
b. Compliance with
				  federal and state fair housing laws and regulations if the firm engages in
				  residential brokerage, residential leasing, or residential property
				  management;
c.
				  Advertising;
d. Negotiating and
				  drafting of contracts, leases, and brokerage agreements;
e. Use of unlicensed individuals;
f. Agency or independent contractor
				  relationships;
g. Distribution of
				  information on new or changed statutory or regulatory requirements;
h. Disclosure of matters relating to the
				  condition of the property; and
i.
				  Such other matters as necessary to assure the competence of licensees to comply
				  with this chapter and Chapter 21 (§
											54.1-2100 et seq.) of
				  Title 54.1 of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-170 - Maintenance of licenses

Current through Register Vol. 40, No. 24, July 15, 2024
A. Name and
				  address.
1. Salespersons and individual
				  brokers shall at all times keep the board informed of their current name and
				  home address. Changes of name and address must be reported to the board in
				  writing within 30 calendar days of such change. The board shall not be
				  responsible for the licensee's failure to receive notices, communications and
				  correspondence caused by the licensee's failure to promptly notify the board of
				  any change of address. A licensee may use a professional name other than a
				  legal name if that professional name is filed with the board prior to its use.
				  The professional name shall include the licensee's first or last name and shall
				  not include any titles.
2.
				  Salespersons and brokers shall be issued a license only to the place of
				  business of the sole proprietorship or firm with which the salesperson or
				  broker is active.
3. Principal
				  brokers must at all times keep the board informed of their current firm and
				  branch office name and addresses and changes of name and address must be
				  reported to the board in writing within 30 calendar days of such change. A
				  physical address is required. A post office box will not be accepted.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-185 - Maintenance and management of financial records

Current through Register Vol. 40, No. 24, July 15, 2024
A. A complete record of financial
				  transactions conducted under authority of the principal broker's Virginia
				  license shall be maintained in the principal broker's place of business, or in
				  a designated branch office. When the principal broker's office is located
				  outside of Virginia and the firm has a branch office in Virginia, a copy of
				  these records shall be maintained in the Virginia office. These records shall
				  show, in addition to any other requirements of the regulations, the following
				  information: from whom money was received; the date of receipt; the place of
				  deposit; the date of deposit; and, after the transaction has been completed,
				  the final disposition of the funds.
B. The principal broker shall maintain a
				  bookkeeping or recordkeeping system which shall accurately and clearly disclose
				  full compliance with the requirements outlined in this section. Accounting
				  records which are in sufficient detail to provide necessary information to
				  determine such compliance shall be maintained.
C. Actions constituting improper
				  recordkeeping by a principal broker or supervising broker include:
1. Failing to retain for a period of three
				  years from the date of execution, each brokerage agreement, each disclosure and
				  consent to dual agency or dual representation, and each disclosure and consent
				  to designated agency or designated representation . Each disclosure of a
				  brokerage relationship to an unrepresented party shall be retained for three
				  years from the date provided to the party ;
2. Failing to retain for a period of three
				  years from the date of closing or from ratification, if the transaction fails
				  to close, a complete and legible copy of each executed contract of sale, any
				  executed release from contract, any executed lease agreement, any executed
				  property management agreement, and each settlement statement related to a real
				  estate transaction, in the broker's control or possession unless prohibited by
				  law;
3. Failing to maintain a
				  complete and accurate record of such receipts and their disbursements for
				  moneys received on behalf of others for a period of three years from the date
				  of the closing or termination of the sales transaction or termination of a
				  lease or conclusion of the licensee's involvement in the lease; and
4. Failing to maintain any records required
				  by this section for three years.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-190 - Advertising by licensees

Current through Register Vol. 40, No. 24, July 15, 2024
A.
				  Definitions. The following definitions apply unless a different meaning is
				  plainly required by the context:
"Advertising" means all forms of representation, promotion
					 and solicitation disseminated in any manner and by any means of communication
					 to consumers for any purpose related to licensed real estate activity.
"Contact information" means telephone number or web
					 address.
"Disclosure" in the context of electronic media
					 advertising means
(i) advertising by
				  the firm that contains the firm's licensed name and the city and state in which
				  the firm's main office or branch office is locatedor
(ii) advertising by an affiliated licensee
				  that contains the licensee's name , the name of the firm with which the
				  licensee is active , and the city and state in which the licensee's place of
				  business is located, and this disclosure shall be viewable on the main page or
				  no more than one click away from the main page. "Disclosure" in the context of
				  all other advertising means (i) advertising by the firm that contains the
				  firm's licensed name or (ii) advertising by an affiliated licensee that
				  contains the licensee's name and the name of the firm with which the licensee
				  is active.
"Viewable page" means a page that may or may not scroll
					 beyond the borders of the screen and includes the use of framed pages.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-210

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-220 - Disclosure of brokerage relationships

Current through Register Vol. 40, No. 24, July 15, 2024
A. Purchase transactions.
1. Unless disclosure has been previously made
				  by a licensee, a licensee shall disclose to an actual or prospective buyer or
				  seller who is not the client of the licensee and who is not represented by
				  another licensee and with whom the licensee has substantive discussions about a
				  specific property or properties, the person whom the licensee represents
				  pursuant to a brokerage agreement, as that term is defined in § 54.1-2130
				  of the Code of Virginia.
2. Except
				  as otherwise provided in subdivision 3 of this subsection, such disclosure
				  shall be made in writing at the earliest practical time, but in no event later
				  than the time specific real estate assistance is first provided. Any disclosure
				  complying with the provisions of § 54.1-2138 A of the Code of Virginia
				  shall be deemed in compliance with this disclosure requirement.
3. A licensee acting as a dual or designated
				  agent or as a dual or designated representative shall obtain the written
				  consent of all clients to the transaction at the earliest practical time. Such
				  consent shall be presumed to have been given by a client who signs a disclosure
				  complying with the provisions of §§ 54.1-2139 , 54.1-2139.01, and
				  54.1-2139.1 of the Code of Virginia. Such disclosure shall be given to, and
				  consent obtained from, (i) the buyer not later than the time an offer to
				  purchase is presented to the licensee who will present the offer to the listing
				  agent or seller, and (ii) the seller not later than the time the offer to
				  purchase is presented to the seller.
4. Any disclosure required by this subsection
				  may be given in combination with other disclosures or information, but, if so,
				  the disclosure must be conspicuous, printed in bold lettering, all capitals,
				  underlined, or within a separate box or as otherwise provided by §
				  54.1-2138 of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-225 - Audits

Current through Register Vol. 40, No. 24, July 15, 2024
A. Procedures for
				  voluntary compliance, self audit, or third-party audit; broker immunity.
1. A principal broker or supervising broker
				  may conduct, or may have another person conduct, an audit of the practices,
				  policies, and procedures of his firm or sole proprietorship in accordance with
				  § 54.1-2111.1 of the Code of Virginia. The methods and findings of the
				  audit shall be documented as described in this subsection.
2. A principal broker or supervising broker
				  shall notify the board in writing within 30 days following the conclusion of a
				  self audit, or within 30 days from the receipt of the final report of a
				  third-party audit, of any matter he believes to constitute noncompliance with
				  the provisions of Real Estate Board regulations or law. The principal broker or
				  supervising broker shall also submit (i) a statement that such noncompliance
				  has been remediated or (ii) a plan to correct such noncompliance within 90
				  days. Failure to comply with these requirements may result in loss of immunity
				  from regulatory enforcement action.
3. A principal broker or supervising broker
				  shall sign and date any report made pursuant to subdivision 2 of this
				  subsection. Such report, properly submitted, shall provide immunity from
				  enforcement against the principal broker or supervising broker by the board for
				  the matters reported therein.
4.
				  Immunity from enforcement action provided by this section shall not apply if
				  the noncompliance with provisions of Real Estate Board regulations or law by
				  the principal broker or supervising broker was intentional or was the result of
				  gross negligence by the principal broker or supervising broker.
5. Immunity from enforcement action provided
				  by this section shall apply only to the principal broker and supervising broker
				  who conduct an audit and submit a voluntary compliance plan in accordance with
				  this section and shall not extend to any other broker or salesperson who may
				  not be in compliance with Real Estate Board regulations or law.
6. Failure to complete the voluntary
				  compliance program within 90 days from the date of plan submission shall result
				  in the loss of immunity from regulatory enforcement action. Repeated instances
				  of a violation found as a result of an audit that was subject to the voluntary
				  compliance program may be deemed by the board to constitute a failure to
				  complete the prior voluntary compliance program.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-240 - Provision of records to the board

Current through Register Vol. 40, No. 24, July 15, 2024
Unless otherwise specified by the board, or as set forth
					 in § 54.1-2108 of the Code of Virginia, a licensee of the Real Estate
					 Board shall produce to the board or any of its agents within 10 days of the
					 request evidence of signature cards or bank records, any document, book, or
					 record concerning any real estate transaction in which the licensee was
					 involved, or for which the licensee is required to maintain records for
					 inspection and copying by the board or its agents. The board may extend such
					 time frame upon a showing of extenuating circumstances prohibiting delivery
					 within such 10-day period.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-250 - Response to any inquiry of the board

Current through Register Vol. 40, No. 24, July 15, 2024
A licensee must respond to an inquiry by the board, other
					 than requested under
					 18VAC135-20-240, or its agents
					 within 21 days.
Statutory Authority
§§ 54.1-201 and 54.1-2105 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-270 - Conflict of interest

Current through Register Vol. 40, No. 24, July 15, 2024
Actions constituting a conflict of interest
					 include:
1. Being active with a real
				  estate broker other than the licensee's principal broker, without the written
				  consent of the principal broker;
2.
				  Acting for more than one client in a transaction governed by the provisions of
				  §§ 54.1-2139, 54.1-2139.01, and 54.1-2139.1 of the Code of Virginia
				  without first obtaining the written consent of all clients; and
3. Performing regulated activities as a
				  standard agent, limited service agent, or independent contractor for any client
				  outside the licensee's brokerage firm(s) or sole proprietorship(s) .
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-280 - Improper brokerage commission

Current through Register Vol. 40, No. 24, July 15, 2024
Actions resulting in an improper brokerage commission
					 include:
1. Offering to pay or paying
				  a transaction-based fee, fees, or other valuable consideration to any person
				  not licensed in this or any jurisdiction for services that require a real
				  estate license;
2. Accepting a
				  commission, fee, or other valuable consideration, as a real estate salesperson
				  or associate broker, for any real estate services from any person or entity
				  except the licensee's principal broker or supervising broker at the time of the
				  transaction;
3. Receiving financial
				  benefit from the use of any information about the property, the transaction, or
				  the parties to the transaction, when the information is gained as a result of
				  the performance of acts specified in Chapter 21 (§ 54.1-2100 et seq.) of
				  Title 54.1 of the Code of Virginia without the prior written consent of the
				  licensee's principal broker;
4.
				  Receiving financial benefit from any person other than the licensee's principal
				  broker at the time of the transaction, for the performance of any of the acts
				  specified in Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1 of the Code of
				  Virginia without the prior written consent of the licensee's principal
				  broker;
5. Receiving financial
				  benefit or other valuable consideration for any work or service related to a
				  transaction without the prior written acknowledgment of the person paying for
				  such work or service; and
6. Making
				  a listing contract or lease which provides for a "net" return to the
				  seller/lessor, leaving the licensee free to sell or lease the property at any
				  price he can obtain in excess of the "net" price named by the
				  seller/lessor.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-290 - Improper dealing

Current through Register Vol. 40, No. 24, July 15, 2024
Actions constituting improper dealing include:
1. Offering real property for sale or for
				  lease without the knowledge and consent of the owner or the owner's authorized
				  representative, or on any terms other than those authorized by the owner or the
				  owner's authorized representative;
2. Placing a sign on any property without the
				  consent of the owner of the property or the owner's authorized representative;
				  and
3. Causing any advertisement
				  for sale, rent, or lease to appear in any format or medium without including in
				  the advertisement the name of the firm or sole proprietorship.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-310 - Improper delivery of instruments

Current through Register Vol. 40, No. 24, July 15, 2024
Actions constituting improper delivery of instruments
					 include:
1. Failing to make prompt
				  delivery to each principal to a transaction, complete and legible copies of any
				  written disclosures required by §§ 54.1-2138, 54.1-2139,
				  54.1-2139.01, and 54.1-2139.1 of the Code of Virginia, listings, lease, offers
				  to purchase, counteroffers, addenda and ratified agreements, and other
				  documentation required by the agreement;
2. Failing to provide in a timely manner to
				  all principals to the transaction written notice of any material changes to the
				  transaction;
3. Failing to deliver
				  to the seller and buyer, at the time a real estate transaction is completed, a
				  complete and accurate statement of receipts and disbursements of moneys
				  received by the licensee, duly signed and certified by the principal or
				  supervising broker or his authorized agent; provided, however, if the
				  transaction is closed by a settlement agent other than the licensee or his
				  broker, and if the disbursement of moneys received by the licensee is disclosed
				  on the applicable settlement statement, the licensee shall not be required to
				  provide the separate statement of receipts and disbursements; and
4. Refusing or failing without just cause to
				  surrender to the rightful owner, upon demand, any document or instrument which
				  the licensee possesses.
Statutory Authority: §§ 54.1-201 and 54.1-2105
						of the Code of Virginia.