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Real Estate/ Continuing Education/ Virginia/ Virginia 2HR Agency Law
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Virginia 2HR Agency Law

$29
This product includes:
LICENSE RENEWAL PERIOD: 2 YEARS Elective Hours: 0 Mandatory Hours: 2 Total Hours: 2
Description
State Requirements

The purpose of this course is to review for Virginia licensees the concept of agency and evaluate the agency environment in the wake of the NAR Settlement.

Agency in Virginia differs from that of many other states because Virginia law defines the brokerage relationship and establishes the parameters of agency representation. Buyers and sellers have specific legal rights when they work with licensees in the capacity of either their listing agent or buyer's agent. Staying in touch with the legalities of agency is critical to licensees' abilities to fulfill their statutory obligations to clients and customers, as well as protecting the interests of consumers with whom they work.

By now, you've probably heard of the Sitzer-Burnett case. This federal class-action lawsuit out of Missouri revolved around residential real estate commission rates, which the plaintiffs alleged led to unacceptably high payouts for buyer brokers at the expense of home sellers. In 2023, the court agreed. The following year, the plaintiffs, the National Association of REALTORS®, and other parties in the case reached settlement terms that will have significant effects on the ways real estate professionals across the country do their jobs.

This two-hour course, which meets the real estate agency requirement for all renewing salespeople and brokers, provides a summary and review of Virginia's rules and regulations specific to agency relationships and discusses the practical implications of the NAR Settlement.

Course highlights include:

  • Legal and ethical responsibilities of listing agents, buyer's agents, rental listing agents, and leasing agents
  • Commonly used contracts and agreements, including listing agreements and buyer/broker agreements
  • Dual agency, designated dual agency¸ and the differences between the two
  • Limited service agencies (LSAs) and the duties they are required by law to provide
  • Terms of the settlement in the Sitzer-Burnett class-action case.
  • Practice changes affecting seller and buyer agreements following the NAR Settlement.
  • Negotiating broker compensation following the NAR Settlement.
  • Activities and examples to seal in the new information and frame it in everyday context

Package Content:

State Requirements For Virginia

Virginia State Requirement Details for Real Estate Broker Continuing Education

Renewal Date: License expires every two years on the last day of the initial license month. Renew no earlier than 60 days prior to license expiration.

Hours Required by the State if License Expires Before June 30, 2026: 24 hours

  • 16 hours of mandatory course topics
    • 6 hours in Broker Management
    • 2 hours in Broker Supervision
    • 3 hours in Ethics & Standards of Conduct
    • 2 hours in Fair Housing
    • 1 hours in Legal Updates and Emerging Trends
    • 1 hours in Real Estate Agency
    • 1 hours in Real Estate Contracts
  • 8 hours of elective course topics or mandatory course topics

Hours Required by the State if License Expires On or After June 30, 2026: 24 hours

  • 19 hours of mandatory course topics
    • 6 hours in Broker Management
    • 2 hours in Broker Supervision
    • 3 hours in Ethics & Standards of Conduct
    • 2 hours in Fair Housing
    • 2 hours in Legal Updates and Emerging Trends
    • 2 hours in Real Estate Agency
    • 2 hours in Real Estate Contracts
  • 5 hours of elective course topics or mandatory course topics

Note: These Continuing Education requirements also apply to inactive brokers who apply to activate their licenses.

The CE Shop's Offering: 24 hours

  • 19 hours of mandatory course topics
    • 6 hours in Broker Management
      • Preparing a Market Analysis - Best Practices (3 hours)
      • Technology Tools, Trends, and Risk Management  (3 hours)
    • 2 hours in Broker Supervision
      • Supervision Requirements and Board Regulations in Virginia
    • 3 hours in Ethics & Standards of Conduct - 2 options
      • Ethics at Work
      • Using the Code to Solve Ethical Dilemmas
    • 2 hours in Fair Housing
      • Virginia Fair Housing
    • 2 hours in Legal Updates and Emerging Trends
      • Virginia 2HR Legal Update
    • 2 hours in Real Estate Agency
      • Virginia 2HR Agency Law
    • 2 hours in Real Estate Contracts
      • Virginia 2HR Contract Law
  • 5 hours of elective course topics or mandatory course topics

Reporting: The state requires course completions to be reported to the state. We will report your course to the state upon completion.

Expiration Date of Course: Course expiration dates vary by course. Each individual course will have an expiration date listed in your account. See Terms & Conditions for more details.

Certificates: Immediately upon course completions, The CE Shop will provide students with an electronic copy of the course certificate of completion. Certificates will remain in your account for a minimum of five years, should you need additional copies at a later time. Please refer to your application to determine if you need to submit your certificate(s) of completion. Course completion dates are recorded using Central Standard Time. Please note that the date on your certificate of completion will reflect this.

Seat Time: It is required that all students spend a minimum amount of seat time engaged in the course content. Our online course delivery system manages this requirement for you.

License Renewal Process: The process to renew in this state can be found here. 

Still have questions? Visit our Frequently Asked Questions or Contact Us.

Virginia Department of Professional and Occupational Regulation Real Estate Board

Street Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485

Mailing Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485

Telephone: (804) 367-8526 

Email: reboard@dpor.virginia.gov

Virginia Real Estate Board

Real Estate Broker Forms