How to Become a Real Estate Broker in Virginia
Becoming a real estate broker in Virginia requires training, examinations, applications for licensing and associated fees. Real estate brokers are licensed to run their own real estate agencies, but they may choose to manage sales agents for other companies. Applicants are required to provide proof of experience and complete approved education courses. The Bureau of Labor Statistics states that part of a broker's role is to work with real estate agents to "obtain listings---agreements by owners to place properties for sale with the firm."
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Instructions
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Complete 180 hours of real estate brokerage courses. The Virginia Real Estate Board must approve these courses, which include real estate abstracting, real estate economics and real estate property law. Locate a list of approved courses through the Virginia Real Estate Board.
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Acquire 48 months of experience as a real estate agent working under a licensed broker. The licensed broker must provide verification of your experience.
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Apply through the Virginia Real Estate Board and receive approval before scheduling your examination. Pay the required fees; as of 2010, fees for the exam range between $75 and $90. Take and pass the examination to qualify for licensing as a broker. The test covers education requirements, such as real estate economics, real estate investments and real estate contract law.
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Complete applications for business entities or transfer of entities. You are required to submit legal information on your real estate company, including name, physical address and type of business, whether it is a sole proprietorship or partnership.
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Maintain your license by submitting renewal fees every two years. As of 2010, the Virginia broker license renewal fee is $80. Renewal also involves the completion of continuing education requirements as mandated by the real estate board.
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References
- Photo Credit real estate image by Andrei Merkulov from Fotolia.com
