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Virginia · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 VirginiaThe Virginia Real Estate Board, operating within DPOR, investigates complaints and disciplines licensees who violate license law or Board regulations. Sanctions range from reprimand and monetary fines to suspension or revocation of a license, imposed through hearings conducted under the Administrative Process Act. When a consumer obtains an unsatisfied court judgment against a licensee for improper conduct, the Real Estate Transaction Recovery Fund may reimburse qualifying losses. A licensee whose conduct triggers a fund payout is suspended until the fund is reimbursed in full.
Yes. State License Law is a scored domain on the Virginia real estate licensing exam, and this topic appears in the state license-law portion.
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Virginia applies its own license law on top of the national portion. This page covers the Virginia rules specifically, which is what the state section of your exam tests.