This case study highlights the importance of performing licensed activities under a licensed business entity and exercising ordinary care in your management of properties.

This case study highlights the importance of reporting disciplinary action taken against a licensee who holds real estate licenses in multiple states to the real estate board in a timely manner.

Due to the state of emergency arising from COVID-19, the Department of Professional and Occupational Regulation (“DPOR”) extended the validity of licenses that would otherwise expire during this time and extended the eligibility for renewal during the state of emergency under applicable regulations until 30 days after the state of emergency is lifted. You should try to complete all necessary CE during this time, renew online if possible, and be prepared to submit any information needed by VREB once the state of emergency is lifted.

Because this may affect your renewal dates, it remains imperative that you know the status of your real estate license, when it is set to expire, and whether or not it is active or inactive. This case study looks at what happens when an agent practices with an inactive license

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 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.

Mary Well became a real estate sales person in Virginia in 1999. She also was licensed in Maryland and the District of Columbia. Since May of 2014, Ms. Well has been affiliated with nine real estate firms. On December 17, 2016, Ms. Well drafted an Exclusive Right to Represent Buyer Agreement with Mr. Do to purchase a house in the Falls Church, Virginia area. The agreement listed Ms. Well as the Buyer’s Agent, and Wise Real Estate Company, LLC as the broker.