This course covers a broad range of issues related to Virginia real estate rules and regulations to help students complete required continuing education course work.Our introductory lesson will discuss details of license renewal in Virginia. Going full circle, well look at renewal from the perspective of an active broker or salesperson, an inactive broker or salesperson, and the board. Well also be looking at what to do when reinstatement is required and what could trigger disciplinary action.Moving on to our second lesson, we will look at various areas of maintenance as it relates to the Virginia real estate industry. As with most businesses, keeping up with records and files is essential to the success of a real estate firm or proprietorship. Well be looking at maintaining proper care of licenses, offices, escrow accounts, and financial records. The business dealings of licensees are regulated in an effort to ensure that all parties to transactions in real estate, both you and your clients, are protected and held responsible for being professional. The third lesson looks at the ways in which we should handle our business dealings. The bulk of this course will instruct the student on how to deal with a mélange of real estate practices in Virginia. In the fourth lesson, students are going to learn about what NOT to do. We will investigate what constitutes improper practices and legal violations. And the final lesson will try to tie together everything the student has learned. The student will be presented with case studies and practice problems that will test their knowledge and application of the course material.
Upon completion of this course, the student will be able to:
- Identify the elements of license renewal procedures.
- Understand the consequences of failure to renew a license.
- Appreciate when a reinstatement may or may not be applicable.
- Utilize the regulations associated with proper business maintenance.
- Apply the various ways in which a licensee may handle an escrow account.
- Acknowledge the record-keeping process and associated compliance thereof.
- Determine licensee disclosure requirements in proper business dealings.
- Recognize the rights of the board to request records and the responsibility of a licensees record-keeping accuracy.
- Describe the actions that constitute improper practices including misrepresentation, incompetence, commission, and disciplinary action
Virginia Rules and Regulations - Virginia Department of Professional and Occupational Regulation
End of Course Instructions
Once you have completed this continuing education course you return to your student profile page where your Certificate of Completion is available for printing. Please keep a copy of your certificate for your own records.
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