ALL employees of (Insert Name of Firm) will be responsible for successfully
completing the requirements of the Virginia Real Estate Board as they pertain to
Continuing Education.
They are as
follows:
“18 VAC 135-20-100. Qualification for renewal; continuing education
requirements.
As a condition of renewal, and pursuant to § 54.1-2105 of the Code of
Virginia, all active brokers and salespersons, resident or non-resident, except
those called to active duty in the Armed Forces of the United States, shall be
required to satisfactorily complete a course or courses of not less than a total
of eight classroom, correspondence, or other distance learning instruction hours
during each licensing term. Active licensees called to active duty in the Armed
Forces of the United States may complete these courses within six months of
their release from active duty. Inactive brokers and salespersons are not
required to complete the continuing education course as a condition of renewal
(see 18 VAC 135-20-70, Activation of license).
1. Providers shall be those as defined in 18 VAC
135-20-350.
2. Four of the eight required hours shall include training in fair
housing laws, state real estate laws and regulations, and ethics and standards
of conduct. If the licensee submits a notarized affidavit to the board which
certifies that he does not practice residential real estate brokerage,
residential management or residential leasing and shall not do so during the
licensing term, training in fair housing shall not be required; instead such
licensee shall receive training in other applicable federal and state
discrimination laws and regulations. The remaining hours shall be on subjects
from the following list:
a. Property rights;
b. Contracts;
c. Deeds;
d. Mortgages and deeds of trust;
e. Types of mortgages;
f. Leases;
g. Liens;
h. Real property and title insurance;
i. Investment;
j. Taxes in real estate;
k. Real estate financing;
l. Brokerage and agency contract responsibilities;
m. Real property management;
n. Search, examination and registration of title;
o. Title closing;
p. Appraisal of real property;
q. Planning subdivision developments and condominiums;
r. Regulatory statutes;
s. Housing legislation;
t. Fair housing;
u. Real Estate Board regulations;
v. Land use;
w. Business law;
x. Real estate economics;
y. Real estate investments;
z. Federal real estate law;
aa. Commercial real estate;
bb. Americans With Disabilities Act;
cc. Environmental issues impacting real estate;
dd. Building codes and design;
ee. Local laws and zoning;
ff. Escrow requirements;
gg. Ethics and Standards of conduct; and
hh. Common interest ownership.
3. Licensees holding licenses in other jurisdictions must
complete four hours which shall include fair housing laws, state real estate
laws and regulations and ethics and standards of conduct and may substitute
education completed in their jurisdiction for the remaining hours required by
subdivision 2 of this subsection.
4. The board may approve additional subjects at its
discretion and in accordance with § 54.1-2105 of the Code of
Virginia.
5. Credit for continuing education course completion is given
for each class hour/clock hour, as defined in 18 VAC 135-20-350.
6. Licensees are responsible for retaining for three years
and providing proof of continuing education. Proof of course completion shall be
made on a form prescribed by the board. Failure to provide course completion
certification as directed by the board will result in the license not being
renewed and/or disciplinary action pursuant to this chapter.
7. Instructors who are also licensees of the board may earn
continuing education credit for teaching continuing education courses.
“