Real Estate Practice in Vermont
Vermont practice includes broker-held trust accounts and a duty to disclose known material defects. This chapter covers trust money and the licensee's disclosure obligations.
Trust Accounts and Earnest Money
Client funds such as earnest money must be handled through the brokerage's trust account, which the broker maintains, and kept separate from the broker's own funds. A salesperson who receives money must deliver it promptly to the affiliated broker for deposit. Commingling or converting client money is one of the most serious violations of Vermont license law.
Disclosure of Known Material Defects
Vermont licensees must disclose known material defects about a property that could affect a reasonable buyer's decision, and must deal honestly with all parties. Licensees may not conceal or misrepresent a known defect even if the seller wishes to hide it. Careful, honest disclosure protects consumers and reduces the licensee's exposure to complaints.
Advertising and Honest Dealing
Advertising must be truthful and identify the brokerage; a salesperson may not advertise property independently of the affiliated broker. Licensees must avoid misrepresentation and false or misleading statements. Accurate practice protects consumers and limits the licensee's liability and exposure to discipline.
State-specific details
State exam facts
- State regulator
- Vermont Real Estate Commission (OPR)
- Exam vendor
- PSI
- Prelicensing education
- 40 hours (pre-licensing salesperson course)
How many prelicensing hours does Vermont require to become a real estate agent?
Vermont requires a 40-hour pre-licensing salesperson course approved by the Vermont Real Estate Commission before you sit for the state exam.
Who licenses real estate agents in Vermont?
The Vermont Real Estate Commission, within the Office of Professional Regulation (OPR) in the Secretary of State's office, licenses salespersons and brokers. The Commission uses PSI to deliver the exam.
How is the Vermont salesperson exam structured?
The Vermont salesperson exam is delivered by PSI with a national portion and a Vermont state portion, scored separately; you must pass both. Confirm the current scored-question counts in the PSI Candidate Information Bulletin.
Sources: https://sos.vermont.gov/real-estate/, https://www.psiexams.com/
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