In this case, a broker acted outside of the scope of his license and agency by representing a client in a real estate transaction under an entity that was not a licensed real estate firm in Virginia. It highlights the importance of operating within the scope of your license and firm when representing others in real estate transactions.

This case study highlights the importance of disclosing a licensee’s interest in the transaction, regardless of the role he or she plays in the transaction, and engaging in behavior that is honest and not deceptive to the public.

This case study highlights how brokers may be held responsible for errors of their employees in the handling of earnest money deposits (EMD). It again demonstrates the importance of following the regulations pertaining to earnest money deposits.

This case study highlights the importance of disclosing a licensee’s interest in the transaction, regardless of the role he or she plays in the transaction, and engaging in behavior that is honest and not deceptive to the public.

Beware of these most common Real Estate Board violations by licensees. You’ll notice one common theme: escrow funds. Violations involving escrow funds continue to be some of the most frequently violated regulations for real estate licensees. Brokers, make sure you have policies in your office policy manual and provide education to prevent you and your licensees from engaging in any of these common offenses.

This case highlights the importance of broker supervision, and how it is important to ensure that only licensed individuals engage in licensed activity. Further, it demonstrates the importance of having policies pertaining to advertising and that you must enforce the policies in your office.

This case highlights not only the importance of adhering to the Board’s regulations through actions such as depositing the earnest money deposit in a timely manner and notifying all parties of material changes to the transaction, but also the importance of paying attention to detail and keeping up to date on your broker’s policies and the status of the transaction.

This case study highlights the importance of making the necessary disclosures with regards to your real estate license status, and making sure that all agents in your firm understand when this disclosure must be made. Despite not actively listing real estate in over 20 years, this agent was still a licensed Virginia real estate agent and needed to adhere to the applicable Virginia laws and regulations.