Virginia is a wonderful place to work and live, and your role as a real estate agent helps other people realize this too. When you become a real estate agent, there is a lot to learn. Even when you read the handbooks, it is possible that you still have questions.
This guide will present some of the common questions and answers that pop up concerning prospective and new real estate agents in Virginia.
1. What Requirements Must I Complete within My First Year as a Salesperson?
Within your first year working as an active salesperson, you are required to complete 30 hours of post-licensing education. If you fail to complete this education, you may be placed on inactive status. This means you will not be able to practice as a real estate agent during this time.
The post-licensing program consists of eight separate courses. Coursework includes topics like fair housing, civil rights, real estate law, ethics, current industry issues, contract writing, agency law, Escrow requirements, and risk management.
2. How Do I Become a Real Estate Sales Agent?
In order to work as a real estate salesperson, you must first complete a 60-hour principles course. You are then required to pass a national and state examination. You can register to take the examination through PSI. If you pass both parts of the exam, you can submit your real estate sales application for board approval.
3. How Do I Become a Real Estate Broker?
Virginia real estate brokers are required to complete a course consisting of 180 hours of broker-related topics. You are also required to complete national and station portions of the broker examination. Additionally, you will need to submit verification of your experience as a real estate salesperson. You need to demonstrate that you worked as a salesperson for 36 out of the last 48 months.
The broker-specific courses include law, finance, appraisal, economics, investments, and lending. These topics prepare you for working as a broker.
4. If I Am Licensed in Another State, Can I Become a Virginia Real Estate Agent?
Yes, Virginia does have a reciprocity agreement with other states. While you do not need to complete the education requirements in Virginia, you must demonstrate that you have taken 60 hours of coursework in a principles of real estate course. You must also pass the Virginia portion of the real estate exam. The real estate commission will also ask that you submit certification letters.
5. How Do I Change My Information with the Real Estate Board?
If you have changed your name or address you can report the changes online. You can log in to your personal profile for easy access. If you are changing your name, be sure to provide a copy of your official documentation to verify this.
If you do not currently have Internet access, you can submit physical forms through the mail, but you still need to provide verification of your changes.
Do you have questions about selling homes in Virginia? Are you curious about the continuing education options available to you? Contact us for more information about your future in the real estate industry.