Real Estate Education Standards and Professionalism
The practice of real estate imposes social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. DAAR supports efforts to improve and enhance the knowledge and professionalism of Virginia’s real estate licensees.
Course Requirement for Brokers and Team Leaders
- Once a licensee serves in a managerial or supervisory position as a team leader or broker in charge of a branch office or firm for 90 days, he or she should be required to complete an in-class, three-hour course, held in the Commonwealth of Virginia, on the management tools necessary to be successful in their roles, along with essential supervisory guidelines and regulatory updates from VREB. The course should be in addition to the required eight hours and must be completed every two years as part of the continuing education requirement.
Improving Real Estate School Standards
- To improve real estate school standards, only an accredited college or university, a public or private vocational school, a real estate board, a real estate office, or a real estate-related professional society or organization should provide continuing education courses.
Bolstering Pre-Licensing Education Requirements
- The 2018 Virginia General Assembly approved adding real estate-related finance to the curricula for new licensees. DAAR supports allocating five of the required sixty hours of real estate-related finance to cover practical topics such as buyer and listing paperwork and writing contracts.
Improving Regulatory Enforcement
- To improve enforcement of VREB regulations, there should be consideration of bolstering VREB resources.
As more and more individuals enter the real estate profession, DAAR believes that strengthening pre-license and post-license education is critical to improving professionalism.
Some advancements in addressing this issue have been achieved. In the past decade, REALTORS® have sought and obtained Virginia General Assembly approval on legislation addressing the core competency of real estate licensees, including additional pre- and post-licensing education requirements, written brokerage agreement requirements, increased broker oversight of firm licensees, and background checks for new licensees. In 2019, the Virginia Real Estate Board (VREB) began a comprehensive review of its regulations. This presents another opportunity to ensure the necessary enhancements in education and professionalism are implemented.
Advocate for the inclusion of enhanced pre- and post-license education and professionalism requirements as the Virginia Real Estate Board conducts a comprehensive regulatory review.