The following words and terms when used in this chapter shall have the following meanings unless a different meaning is provided or is plainly required by the context shall have the following meanings:

"Active" means any broker or salesperson who is under the supervision of a principal or supervising broker of a firm or sole proprietor and who is performing those activities defined in §§ 54.1-2100 and 54.1-2101 of the Code of Virginia.

"Actively engaged" means active licensure with a licensed real estate firm or sole proprietorship in performing those activities as defined in §§ 54.1-2100 and 54.1-2101 of the Code of Virginia for an average of at least 40 hours per week. This requirement may be waived at the discretion of the board in accordance with § 54.1-2105 of the Code of Virginia.

"Actively engaged in the brokerage business" means anyone who holds an active real estate license.

"Another state" means the same as the term is defined in § 54.1-205 of the Code of Virginia.

"Associate broker" means any individual licensee of the board holding a broker's license other than one who has been designated as the principal broker.

"Client" means a person who has entered into a brokerage relationship with a licensee as defined by § 54.1-2130 of the Code of Virginia.

"Firm" means any sole proprietorship (nonbroker owner), partnership, association, limited liability company, or corporation, other than a sole proprietorship (principal broker owner), which is required by 18VAC135-20-20 B to obtain a separate brokerage firm license. The firm's licensed name may be any assumed or fictitious name properly filed with the board.

"Inactive status" means any broker or salesperson who is not under the supervision of a principal broker or supervising broker, who is not active with a firm or sole proprietorship, and who is not performing any of the activities defined in §§ 54.1-2100 and 54.1-2101 of the Code of Virginia.

"Independent contractor" means a licensee who acts for or represents a client other than as a standard agent and whose duties and obligations are governed by a written contract between the licensee and the client.

"Licensee" means real estate brokers and salespersons as defined in Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1 of the Code of Virginia or real estate firms.

"Neighboring state" means the same as the term is defined in § 54.1-205 of the Code of Virginia.

"Principal broker" means the individual broker who shall be designated by each firm to assure ensure compliance with Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1 of the Code of Virginia, and this chapter, and to receive communications and notices from the board that may affect the firm or any licensee active with the firm. In the case of a sole proprietorship, the licensed broker who is the sole proprietor shall have the responsibilities of the principal broker. The principal broker shall have responsibility for the activities of the firm and all its licensees. The principal broker shall have signatory authority on all escrow accounts maintained by the firm.

"Principal to a transaction" means a party to a real estate transaction, including without limitation a seller or buyer, landlord or tenant, optionor or optionee, or licensor or licensee. For the purposes of this chapter, the listing or selling broker, or both, are not by virtue of their brokerage relationship, principals to the transaction.

"Sole proprietor" means any individual, not a corporation, limited liability company, partnership, or association, who is trading under the individual's name or under an assumed or fictitious name pursuant to the provisions of Chapter 5 (§ 59.1-69 et seq.) of Title 59.1 of the Code of Virginia.

"Standard agent" means a licensee who acts for or represents a client in an agency relationship. A standard agent shall have the obligations as provided in Article 3 (§ 54.1-2130 et seq.) of Chapter 21 of Title 54.1 of the Code of Virginia.

"Supervising broker" means (i) the individual broker who shall be designated by the principal broker to supervise the provision of real estate brokerage services by the associate brokers and salespersons assigned to branch offices or real estate teams or (ii) the broker, who may be the principal broker, designated by the principal broker to supervise a designated agent as stated in § 54.1-2130 of the Code of Virginia.

A. Licensed in a neighboring state. The board will issue a salesperson or broker license under universal license recognition to an individual who meets the following qualifications:

1. The individual holds a current and valid license with a similar scope of practice in a neighboring state;

2. The individual's other license is in good standing with no reported pending complaints;

3. The individual has met the requirements set in subdivision 4 of 18VAC135-20-30;

4. The individual has not been subject to professional discipline involving harm to the public or license probation, suspension, or revocation;

5. The individual pays the reciprocity application fee as listed in 18VAC135-20-80; and

6. The individual successfully passes the Virginia Real Estate Exam.

B. Licensed in another state. The board will issue a salesperson or broker license under universal license recognition to an individual who meets the following qualifications:

1. The individual holds a current and valid license with a similar scope of practice in another state, territory, possession, or jurisdiction of the United States for at least three years;

2. The individual was licensed in the other state after having passed a state required exam and met education, training, or experience requirements to obtain the license;

3. The individual's other license is in good standing with no reported pending complaints;

4. The individual has met the requirements set in subdivision 4 of 18VAC135-20-30;

5. The individual has not been subject to professional discipline involving harm to the public or license probation, suspension, or revocation;

6. The individual pays the reciprocity application fee as listed in 18VAC135-20-80; and

7. The individual successfully passes the Virginia Real Estate Exam.

B. C. Experience in a state that does not require licensure. The board will hold an individual to have met all experience, training, and education requirements if the applicant has three years of experience in a state that does not require licensure.

1. To be exam eligible under universal license recognition, an individual must have:

a. Demonstrated at least three years of experience as a salesperson or broker in another state that does not issue an occupational or professional license for that respective profession;

b. Met the requirements set in subdivision 4 of 18VAC135-20-30;

c. Not been subject to professional discipline involving harm to the public or license probation, suspension, or revocation; and

d. Paid the applicable application fee as listed in 18VAC135-20-80.

2. Under this subsection, individuals are required to pass all exams required of initial applicants for the license under 18VAC135-20-30.

Exchange to Salesperson License Application, A490-02DLIC-v3 (eff. 11/2015)

Pre-license Prelicense Education Instructor Certification Application, A490-0230INSTR-v5 (rev. 11/2015)

Proprietary School Certification Application, A490-0211SCHL-v2 (rev. 11/2015)

Real Estate Firm/Sole Proprietorship Audit, F490-02AUD (rev. 7/2014)

Individual - Name/Address Change Form, A954640-02NACHG-v2 (rev. 5/2015)

Firm License Application, A490-0226FLIC-v2 (rev. 2/2013)

Branch Office License Application, A490-0226BRLIC-v2 (rev. 2/2013)

Business Entity License Transfer Application, A490-0226BETR-v2 (rev. 2/2013)

Business Entity License/Reinstatement Application, A490-0226BELIC-v3 (rev. 4/2013)

Add-on/Removal of Business Entity Member Application, A490-0226ARBEM-v2 (rev. 2/2013)

Salesperson License Application, A490-0225SLIC-v2 (rev. 2/2013)

Salesperson - Universal License Recognition (ULR) Application - A490-0225S-ULR-v3 (rev. 7/2024)

Salesperson - Activate/Transfer Application, A490-0225SAT-v2 (rev. 4/2015)

Place License Inactive Application, A490-0225INACT-v1 (rev. 1/2013)

Concurrent Broker License Application, A490-0225CONCUR-v3 (rev. 6/2013)

Concurrent Broker Acknowledgment Form, A490-0225CBA-v1 (rev. 2/2015)

Broker License Application, A490-0225BLIC-v2 (rev. 2/2013)

Broker - Universal License Recognition (ULR) Application - A490-0225B-UNIV-v4 (rev. 7/2024)

Broker - Activate/Transfer Application, A490-0225BAT-v2 (rev. 4/2015)

Online Approval - Broker Acknowledgment Form, A490-0225BACK-v1 (rev. 12/2014)

In-State Experience Verification Form, A490-02VAEXP-v2 (rev. 2/2013)

Signature Authority Application, A460-02SIG_AUT-v2 (rev. 1/2013)

Branch Office - Supervising Broker Change Form, A490-02SBCHG-v2 (rev. 2/2013)

Firm Principal Broker/Officer Change Form, A490-02PBOCHG-v2 (rev. 2/2013)

Out-of-State Experience Verification Form, A490-02OSEXP-v2 (rev. 2/2013)

Firm Name/Address Change Form, A490-02FNACHG-v1 (rev. 1/2013)

Supervising Broker Certification Form, A490-02CERTFRM-v1 (rev. 1/2013)

Prelicense Education Course Approval Application, A490-0214PRE-v2 (rev. 1/2014)

Additional Instructor Approval Application, A490-0214ADD-v3 (rev. 5/2013)

Continuing Education Course Approval Application, A490-0214CRS-v5 (rev. 6/2015)

Post License Education Course Approval Application, A490-0214PLE-v5 (rev. 6/2015)