o ALL employees should
consult their direct supervisor with questions and/or concerns regarding their
duties and responsibilities as a licensed REALTOR®.
o Under the direction
of the Virginia Real Estate Board Regulations regarding Broker Supervision and
Training, (Insert Name of Firm) will provide ALL employees with notice of
possible training and/or continuing education opportunities.
***Please note the
changes to 18 VAC 135-20-160 as they pertain to Broker Supervision and
Training. The new regulations now list subject matter that brokers need to
provide either training or accessibility to training. There are also changes
that were made to this section regarding licenses. Brokers will no longer need
to physically hang all licenses in each office. Brokers just need to maintain
the license and have it available, if needed.***
The Virginia Real Estate
Board Regulations are as follows:
“18 VAC 135-20-160. Place of
business.
A. Within the meaning and intent of
§ 54.1-2110 of the Code of Virginia, a place of business shall be an office
where:
1. The principal broker, either through his
own efforts or through the efforts of his employees or associates, regularly
transacts the business of a real estate broker as defined in § 54.1-2100 of the
Code of Virginia; and
2. The principal broker and his employees or
associates can receive business calls and direct business calls to be
made.
B. No place of business shall be in
a residence unless it is separate and distinct from the living quarters of the
residence and is accessible by the public.
C. Every principal broker shall have readily available to the public
in the main place of business the firm license, the principal broker license and
the license of every salesperson and broker active with the firm. The branch
office license and a roster of every salesperson or broker assigned to the
branch office shall be available to the public in each branch
office.
D. Each place of business and each branch office shall be supervised
by a supervising broker. The supervising broker shall exercise reasonable and
adequate supervision of the provision of real estate brokerage services by
associate brokers and salespersons assigned to the branch office. Factors to be
considered in determining whether the supervision is reasonable and adequate
include, but are not limited to, the following:
1. The availability of the supervising broker to all licensees under
the supervision of the broker to review and discuss contract provisions,
brokerage agreement provisions and advertising;
2. The availability of training
and written procedures and policies which provide, without limitation, clear
guidance in the following areas:
a. Proper handling of escrow
deposits;
b. Compliance with federal and
state fair housing laws and regulations if the firm engages in residential
brokerage, residential leasing, or residential property
management;
c.
Advertising;
d. Negotiating and drafting of
contracts, leases and brokerage agreements;
e.
Use
of unlicensed individuals;
f.
Agency
relationships;
g. Distribution of information on
new or changed statutory or regulatory requirements;
h. Disclosure of matters relating
to the condition of the property.
i. Such other matters as necessary to assure the competence of
licensees to comply with this chapter and Chapter 21 (§ 54.1-2100 et seq.) of
Title 54.1 of the Code of Virginia.