Brokers
Next year, as part of the already required 8 hours of Broker Management & Agent Supervision, brokers must complete 2 hours covering the broker supervision requirements under the Virginia Code and Board regulations.
Beginning January 1, 2019, brokers must complete 24 hours of Continuing Education to renew their licenses. Of these 24 hours, renewing brokers must take:
- Broker Management & Agent Supervision (8 hours total, of which 2 hours must be specific to broker supervision requirements)
- Ethics & Standards of Conduct (3 hours)
- Fair Housing (2 hours)
- Legal Updates and Emerging Trends (1 hour)
- Real Estate Agency (1 hour)
- Real Estate Contracts (1 hour)
The remaining 8 hours may be in Real Estate Related Subjects (electives) or in the required Continuing Education subjects already referenced. These Continuing Education requirements also apply to inactive brokers and experienced salespersons who apply to activate their licenses.
How does this affect licensees whose license expires after January 1, 2019?
If you have completed your 8 hours of broker management/supervision education prior to December 31, 2018, your education requirements in this category will be considered complete.
If you have not completed your 8 hours of broker management/supervision education prior to December 31, 2018, you will need to take an approved 2-hour class on the regulations to complete your education requirements.
New Licensees
Next year, 2 hours of post-licensure education for licensees must be about real estate-related finance.
All active new salesperson licensees must complete a Board-approved 30-hour post-license education (PLE) curriculum within one year of obtaining a salesperson license in order to remain on active status. For example, if your salesperson license was issued on January 3, you must complete all 30 hours no later than January 31 of the following year.
Beginning January 1, 2019, the 30-hour PLE program will consist of NINE courses:
- Fair Housing, ADA and Civil Rights (2 hours)
- Real Estate Law and Regulations (6 hours)
- Ethics and Standards of Conduct (3 hours)
- Current Industry Issues and Trends (2 hours)
- Agency Law (3 hours)
- Contract Writing (6 hours)
- Risk Management (3 hours)
- Escrow Requirements (3 hours)
- Real Estate-Related Finance (2 hours)
How does this affect new licensees whose license expires after January 1, 2019?
If you have completed your 30 hours of education prior to December 31, 2018, your education requirements will be considered complete.
If you have not completed their 30 hours of education prior to December 31, 2018, you will need to take an approved post license real estate finance class to complete your education requirements.
For more information about educational requirements, visit the Department of Professional and Occupational Regulation at http://www.dpor.virginia.gov/Continuing_Education/. Questions: Contact Teresa Kirkhart, Professional Development & Standards Director, at (571) 291-9805 or tkirkhart@dullesarea.com