How to Become an Independent Real Estate Broker in Virginia
Independent real estate brokers in Virginia differ from other brokers in that they are not connected to a larger real estate firm as a franchisee, but instead operate their own real estate businesses. To operate as an independent real estate business in Virginia, you must be licensed as both a real estate broker and sole proprietor by the Virginia Real Estate Board. In addition to meeting the education, experience and examination elements that are required of all real estate brokers in Virginia, independent real estate brokers must comply with the regulations regarding business operation in their county, city or town.
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Instructions
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Earn a high school diploma or GED.
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Complete the 60-hour Principles of Real Estate course. Find approved course providers on the Virginia Real Estate Board website.
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Submit a Salesperson License by Examination Application to the Virginia Real Estate Board. Include proof of your Principles of Real Estate course completion, a set of fingerprints for a background check and a $170 fee with your application. Find application forms on the Virginia Real Estate Board website.
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Sit for your Virginia Salesperson state and national examinations with PSI, the third-party licensure testing organization responsible for delivering all Virginia Real Estate Board certification exams. Once your salesperson license application has been approved, submit an application to write your 45-minute national and 105-minute state real estate salesperson exams to PSI, along with a $60 fee.
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Gain at least 36 months of experience as a real estate salesperson under the supervision of a licensed real estate broker.
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Complete at least 180 hours of broker education courses, including the 45-hour Real Estate brokerage course. Find approved course providers on the Virginia Real Estate Board website.
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Submit a Principal Broker and Sole Proprietor License by Exam application to the Virginia Real Estate Board. Include proof of your required course completion, a set of fingerprints for a background check, proof of experience and a $420 fee with your application. Find application forms on the Virginia Real Estate Board website.
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Sit for your Virginia Real Estate Broker state and national examinations with PSI. Once your broker license application has been approved, submit an application to write your 105-minute national and 55-minute state real estate salesperson exams to PSI, along with a $60 fee.
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Meet the requirements for operating a business in your area, including establishing a place of business, applying for local business licenses and registering your business name. Contact your local business licensing authority to determine the requirements you must meet regarding operating a real estate sole proprietorship in your municipality and/or county.
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Join the Virginia chapter of the National Association of Independent Real Estate Brokers. This is not required, but membership comes with benefits such as a referral network. Fees range from $90 for one year to $777 for a lifetime membership.
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References
- National Association of Independent Real Estate Brokers: What is an Independent Real Estate Broker?
- Virginia Real Estate Board: Real Estate Board Frequently Asked Questions (PDF)
- National Association of Independent Real Estate Brokers: Membership Application (PDF)
- PSI: Real Estate Candidate Information (PDF)
