So you want to get your Virginia real estate license? That’s great! Aceable is here to help. Let’s get into what’s required to get your license.
Types of Virginia Real Estate Licenses
First up: what kind of Virginia real estate license do you want to get? There are three main types of real estate licenses in Virginia: broker, salesperson, and firm. As you might have guessed, brokers and salespersons are generally people, while a firm is a business. Let’s define these categories.
A broker is a person or business entity who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration. Brokers supervise salespersons and associate brokers.
Associate brokers have the same qualifications as brokers and even take the same coursework and qualifying exam. The difference is that an associate broker opts to work under another broker and does not supervise agents.
A salesperson is a real estate license holder who is associated with a licensed broker for the purpose of performing real estate brokerage acts on the broker’s behalf. A salesperson can't accept compensation directly from a client or customer. It must come from their own broker.
If you are just starting out in Virginia real estate, this is the license to get!
A firm is an association, partnership, or corporation that is not broker-owned and therefore must acquire a separate brokerage firm license.
Requirements for Your Virginia Real Estate License
Let’s go over the requirements for getting your salesperson or broker license. Since you are a person, not a business, I’ll assume you aren’t getting your firm license.
Essentially, broker applicants must meet all of the salesperson requirements, plus a couple of additional requirements regarding education and experience.
Applicants who have a current license from another state have a nice advantage in getting their Virginia real estate license. Whether they just moved to Virginia or only plan to do business here occasionally, these people may qualify to skip over some education and testing requirements.
Process for Getting Your Virginia Real Estate License
That’s it for the basic requirements. Here’s the step-by-step process!
Now that you know the details about how to get your Virginia salesperson license, let's take a look at how the process differs for brokers.
In addition to the basic qualifications required of anyone who wants a Virginia real estate license, broker applicants must have held an active salesperson license for at least 36 of the past 48 months. Their experience must be confirmed by their broker. The Virginia Real Estate Board can waive this requirement if they choose to do so.
Aspiring brokers have to take broker's pre-license courses that are approved by the Virginia Real Estate Board. Applicants need 180 hours of coursework, so quite a bit more than the 60-hour salesperson course (which wouldn't count toward the broker education requirement, by the way).
Broker applicants must pass a Real Estate Brokerage course, plus one of the following:
The three broker-specific courses of Real Estate Appraisal, Real Estate Finance, and Real Estate Law
Two of the broker-specific courses above and a broker-related course (options include Real Estate Contract Law, Real Estate Math, Real Estate Property Management, and many more!)
Most of the broker license application process is the same as the salesperson license application process. But here are a couple of things to note:
The Real Estate Board will only issue a broker license to the place of business of the firm or sole proprietorship where the broker is active.
The fee for a broker application is $190, while the fee for a salesperson application is $150.
After You Get Your Virginia Real Estate License, What’s Next?
Once you get your Virginia real estate license, you are on your way to a career in Virginia real estate. As a salesperson, you’ll need to find a broker to work for. Here are some tips for finding a good fit!