State License Law (Virginia)
Virginia real estate practice is regulated by the Virginia Real Estate Board within the Department of Professional and Occupational Regulation (DPOR). This topic covers licensing structure, broker supervision, and conduct standards.
The Virginia Real Estate Board and DPOR
The Virginia Real Estate Board, one of DPOR's regulatory boards, licenses salespersons and brokers, adopts regulations, and disciplines licensees for violations. A salesperson must be affiliated with and supervised by a principal or supervising broker, who is responsible for the salesperson's licensed activity, escrow handling, and records. The Board can impose fines, and suspend or revoke licenses for misconduct.
Standards of Conduct
Virginia licensees must deal honestly, avoid misrepresentation, handle client money properly, and disclose their brokerage relationship. Prohibited conduct includes commingling escrow funds, improper advertising, and dishonest dealing. A salesperson may not accept compensation except through the affiliated broker, keeping the broker accountable for the transaction.
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