Responsibilities of teams, brokers, and branch offices
Purpose of legislation
Requires real estate teams to obtain a business entity salesperson's license from the Board. Also requires a principal broker to obtain a branch office license for each place of business within the Commonwealth; expands responsibilities of supervising brokers; and requires supervising brokers provide names and license numbers of each licensee affiliated with the branch office at the time of the renewal. The bill has a delayed effective date of January 1, 2019.
|Legislation mandating a change||Chap 223 (2018) Chap 224 (2018)|
|VAC chapters to be amended|
|Associated Regulatory Actions||No regulatory action has been filed.|