Specific Acts Pertaining to Real Estate Practice
Five state items covering five named statutes: the Virginia Condominium Act and regulations, the Virginia Residential Landlord and Tenant Act, the Virginia Common Interest Communities Act (a Broker-only subtopic), the Virginia Underground Utility Damage Prevention Act, and the Virginia Property Owners' Association Act. One item each is a fair working assumption.
The Condominium Act
The Virginia Condominium Act is Chapter 19 of Title 55.1, Sections 55.1-1900 through 55.1-1990. It creates the condominium out of recorded condominium instruments, allocates common expense liability and votes among units, and constitutes the unit owners' association. Section 55.1-1973 limits what an association may do about leasing: it may not condition or prohibit a rental except as the chapter or the condominium instruments allow, may not charge a rental, application or processing fee of any kind in excess of $50 during the term of any lease, may not charge any deposit from the owner or the tenant, may not require its own lease form, and may not evict an owner's tenant. It may require the names and contact details of tenants and occupants, vehicle information, and the tenant's acknowledgment of the rules. Section 55.1-1990, the old resale certificate, now reads "(Repealed.)" — that instrument moved to the Resale Disclosure Act.
The Residential Landlord and Tenant Act
The VRLTA is Chapter 12 of Title 55.1, Sections 55.1-1200 through 55.1-1262, and Section 55.1-1201 applies it statewide to single-family and multifamily dwelling units, excluding among others occupancy by an owner of a condominium unit, occupancy incidental to institutional care, and transient lodging where the guest's primary residence is elsewhere. Subsection A of Section 55.1-1226 caps a security deposit, however denominated, at two months' periodic rent, and requires the landlord to itemize deductions in a written notice within 45 days after the later of termination or the tenant vacating. Subsection B provides that where the landlord or managing agent is a real estate licensee, complying with the section is deemed compliance with Section 54.1-2108 and the Board's escrow regulations. Subdivision B 2 c of 18VAC135-20-181 sends security deposits and prepaid rent held by a licensee to the VRLTA's own provisions.
The Common Interest Communities Act
Chapter 23.3 of Title 54.1 creates the Common Interest Community Board and regulates common interest community managers. Subsection A of Section 54.1-2346 requires any person or entity offering management services to a common interest community to hold a license from that Board, unless exempted by Section 54.1-2347; subsection C requires employees with principal or supervisory responsibility to hold a Board certificate within two years of employment or work under a certificated employee's direct supervision; subsection D requires a fidelity bond or employee dishonesty policy of at least $10,000 and up to $2 million. Section 54.1-2350 has the Board develop the resale certificate form. Section 54.1-2354.2 is the Common Interest Community Management Information Fund, and Section 54.1-2354.3 creates the Common Interest Community Ombudsman. Note that PSI's bulletin still points at Title 55 Chapter 29 for the Fund; that chapter is today the Self-Service Storage Act.
The Underground Utility Damage Prevention Act
Chapter 10.3 of Title 56, Sections 56-265.14 through 56-265.31. Subsection A of Section 56-265.17 forbids beginning any excavation or demolition without first submitting a locate request to the notification center, and deems that submission notice to every operator who is a member of the center; an excavator who willfully fails to do so owes three times the repair cost, with punitive damages capped at $10,000 per cause of action. Subsection B lets work begin only once the positive response system shows each operator has marked its lines or reported none present. Subsection D makes the notification valid for 15 working days from 7:00 a.m. on the next working day after the request, with re-marking available on request. Subsection F limits the area under one locate request to one-third of a mile. Section 56-265.21 requires American Public Works Association color codes for marking.
The Property Owners' Association Act
Chapter 18 of Title 55.1, Sections 55.1-1800 through 55.1-1837. Section 55.1-1805 governs association charges; Section 55.1-1824 lets the board impose a late fee not exceeding the penalty in Section 58.1-3915 on any assessment or installment unpaid for 60 days, except to the extent the declaration or rules provide otherwise; Section 55.1-1825 covers additional assessments and borrowing; Section 55.1-1826 requires an annual budget and a reserve study; Section 55.1-1833 creates the assessment lien and its foreclosure. Section 55.1-1822 protects an owner's use of for-sale signs, Section 55.1-1820 the display of the United States flag, and Section 55.1-1821 home-based businesses that comply with local ordinances. Section 55.1-1835 requires the association's annual report to the Common Interest Community Board, which under subsection F of Section 55.1-2316 the association must be current on before it may collect resale certificate fees. Article 2, the old disclosure packet, reads "(Repealed.)".
State-specific details
State exam facts
- State regulator
- Virginia Real Estate Board (DPOR)
- Exam vendor
- PSI
- Prelicensing education
- Not less than 12 semester hours of real estate courses (Va. Code § 54.1-2105(B)(2)(b))
- Passing score
- 60 of 80 points national; 38 of 50 state
- Scored questions
- 125
- Time limit
- 160 minutes
Who regulates real estate brokers in Virginia?
The Virginia Real Estate Board, within the Department of Professional and Occupational Regulation (DPOR), licenses brokers and salespersons. Va. Code § 54.1-2104 gives the Board nine members — seven licensees of at least seven consecutive years and two citizen members — and § 54.1-2105 gives it the power to regulate. DPOR contracts with PSI to administer the licensing exams.
What experience do I need before the Virginia broker exam?
Under 18VAC135-20-35(C), a broker applicant must have been “actively engaged … as a real estate salesperson for a period of 36 of the 48 months immediately preceding application,” verified by the principal or supervising broker for whom the applicant worked. 18VAC135-20-10 defines “actively engaged” as active licensure performing licensed activity for an average of at least 40 hours per week. Va. Code § 54.1-2105(B)(2) adds a high school diploma or equivalent and not less than 12 semester hours of real estate instruction, which subsection D specifies must be in real estate brokerage, finance, appraisal, law and related Board-approved subjects.
How is the Virginia broker exam structured?
PSI candidate information bulletin 466 gives the broker exam a national portion of 75 items scored to 80 points in 105 minutes and a Virginia state portion of 50 items worth 50 points in 55 minutes — 125 items in 160 minutes together. Passing is published as points correct rather than a percentage: 60 of 80 on the national portion and 38 of 50 on the state portion, and you must pass both. If you are applying for a reciprocal license you need only pass the state portion.
Sources: https://www.dpor.virginia.gov/Boards/Real-Estate/Pre-License, https://test-takers.psiexams.com/api/content/bulletin/466, https://law.lis.virginia.gov/admincode/title18/agency135/chapter20/, https://law.lis.virginia.gov/vacode/title54.1/chapter21/
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