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 18VAC135-20-101 - Qualification for renewal; continuing education requirements

Current through Register Vol. 40, No. 24, July 15, 2024
As a condition of renewal, and pursuant to §
										54.1-2105.03
					 of the Code of Virginia, all active salespersons, resident or nonresident,
					 except those called to active duty in the Armed Forces of the United States,
					 shall be required to satisfactorily complete a course of not less than a total
					 of 16 classroom, correspondence, or other distance learning instruction hours
					 during each licensing term, except for salespersons who are renewing for the
					 first time and are required to complete 30 hours of post-license education
					 regardless of whether their licenses are active or inactive. All active
					 brokers, resident or nonresident, except those called to active duty in the
					 Armed Forces of the United States, shall be required to satisfactorily complete
					 a course of not less than a total of 24 classroom, correspondence, or other
					 distance learning instruction hours during each licensing term. Active
					 licensees called to active duty in the Armed Forces of the United States may
					 complete these courses within six months of their release from active duty.
					 Inactive brokers and salespersons are not required to complete the continuing
					 education course as a condition of renewal (see
					 18VAC135-20-70,
					 Activation or transfer of license).
1.
				  Providers shall be those as defined in
				  18VAC135-20-350;
2. For salespersons, eight of the required 16
				  hours shall include two hours in fair housing laws; three hours in ethics and
				  standards of conduct; and a minimum of one hour each in legal updates and
				  emerging trends, to include flood zone areas and the National Flood Insurance
				  Program, real estate agency, and real estate contracts. For brokers, 16 of the
				  24 required hours shall include eight hours in supervision and management of
				  real estate agents and the management of real estate brokerage firms, two hours
				  of which shall include an overview of the broker supervision requirements under
				  this chapter and Chapter 21 (§
										54.1-2100 et seq.) of
				  Title 54.1 of the Code of Virginia; two hours in fair housing laws; three hours
				  in ethics and standards of conduct; and a minimum of one hour each in legal
				  updates and emerging trends, to include flood zone areas and the National Flood
				  Insurance Program, real estate agency, and real estate contracts. If the
				  licensee submits a notarized affidavit to the board that certifies that he does
				  not practice residential real estate brokerage, residential management, or
				  residential leasing and shall not do so during the licensing term, training in
				  fair housing shall not be required; instead such licensee shall receive
				  training in other applicable federal and state discrimination laws and
				  regulations. The remaining hours shall be on subjects from the following list:
a. Property rights;
b. Contracts;
c. Deeds;
d. Mortgages and deeds of trust;
e. Types of mortgages;
f. Leases;
g. Liens;
h. Real property and title
				  insurance;
i. Investment;
j. Taxes in real estate;
k. Real estate financing;
l. Brokerage and agency contract
				  responsibilities;
m. Real property
				  management;
n. Search, examination
				  and registration of title;
o. Title
				  closing;
p. Appraisal of real
				  property;
q. Planning subdivision
				  developments and condominiums;
r.
				  Regulatory statutes;
s. Housing
				  legislation;
t. Fair
				  housing;
u. Real Estate Board
				  regulations;
v. Land use;
w. Business law;
x. Real estate economics;
y. Real estate investments;
z. Federal real estate law;
aa. Commercial real estate;
bb. Americans With Disabilities
				  Act;
cc. Environmental issues
				  impacting real estate;
dd. Building
				  codes and design;
ee. Local laws
				  and zoning;
ff. Escrow
				  requirements;
gg. Ethics and
				  standards of conduct; and
hh.
				  Common interest ownership.