| Action Summary | This action amends the Virginia Real Estate Board Licensing Regulations to conform to changes resulting from the enactment of Chapters 327 and 352 of the 2024 Acts of Assembly. The legislation defines the terms “place of business” and “branch office” in Chapter 21 of Title 54.1 of the Code of Virginia. The legislation requires every principal broker to have readily available to the public in the broker’s primary place of business the firm license, principal broker license, and the license of every salesperson and broker active with the firm and requires each branch office to have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office. The proposed amendments conform applicable provisions of the regulation to the legislation. Substantive amendments include: 1. Section 18VAC135-20-10 is revised to incorporate by reference the new statutory definitions of “place of business” and “branch office.” 2. The provisions in 18VAC135-20-20 regarding licensure for real estate brokerage branch offices are revised to provide that a real estate broker obtain a branch office license for each additional place of business other than the primary place of business noted on the firm’s license application. 3. Section 18VAC135-20-20 is also revised to provide for exemptions from the branch office licensure requirement. 4. Section 18VAC135-20-160 is revised to remove provisions that provided a meaning for the term “place of business.” The meaning of the term “place of business” is defined in § 54.1-2100 of the Code of Virginia. 5. Section 18VAC135-20-160 is revised to provide that each branch office have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office. |
| Chapters Affected | Only affects this chapter. |
| Executive Branch Review | This Action is exempt from Article 2 of the Administrative Process Act, but falls within the Executive Branch and will be reviewed by the Governor's Office. |
| RIS Project | Yes [7869] |
| New Periodic Review | This action will not be used to conduct a new periodic review. |
| Name / Title: | Anika Coleman / Executive Director |
| Address: |
9960 Mayland Drive, Suite 400 Suite 400 Richmond, VA 23233 |
| Email Address: | reboard@dpor.virginia.gov |
| Phone: | (804)367-8552 FAX: (866)826-8863 TDD: ()- |