As a condition of renewal, and pursuant to §
54.1-2105.03 of the Code of
Virginia, all active salespersons, resident or nonresident, except those called
to active duty in the Armed Forces of the United States, shall be required to
satisfactorily complete a course of not less than a total of 16 classroom,
correspondence, or other distance learning instruction hours during each
licensing term, except for salespersons who are renewing for the first time and
are required to complete 30 hours of post-license education regardless of
whether the licenses are active or inactive. All active brokers, resident or
nonresident, except those called to active duty in the Armed Forces of the
United States, shall be required to satisfactorily complete a course of not
less than a total of 24 classroom, correspondence, or other distance learning
instruction hours during each licensing term. Active licensees called to active
duty in the Armed Forces of the United States may complete these courses within
six months of release from active duty. Inactive brokers and salespersons are
not required to complete the continuing education course as a condition of
renewal (see
18VAC135-20-70, Activation or
transfer of license).
2. For salespersons, 11 of the required 16
hours shall include two hours in fair housing laws; three hours in ethics and
standards of conduct; two hours in real estate agency; two hours in real estate
contracts; and two hours in legal updates and emerging trends, to include flood
zone areas and the National Flood Insurance Program. For brokers, 19 of the 24
required hours shall include eight hours in supervision and management of real
estate agents and the management of real estate brokerage firms, two hours of
which shall include an overview of the broker supervision requirements under
this chapter and Chapter 21 (§
54.1-2100 et seq.) of Title 54.1
of the Code of Virginia; two hours in fair housing laws; three hours in ethics
and standards of conduct; two hours in real estate agency; two hours in real
estate contracts; and two hours in legal updates and emerging trends, to
include flood zone areas and the National Flood Insurance Program. If the
licensee submits a notarized affidavit to the board that certifies that the
licensee does not practice residential real estate brokerage, residential
management, or residential leasing and shall not do so during the licensing
term, training in fair housing shall not be required; instead, such licensee
shall receive training in other applicable federal and state discrimination
laws and regulations. The remaining elective hours shall be on subjects from
the following list:
a. Property
rights;
b. Contracts;
c. Deeds;
d. Mortgages and deeds of trust;
e. Types of mortgages;
f. Leases;
g. Liens;
h. Real property and title
insurance;
i. Investment;
j. Taxes in real estate;
k. Real estate financing;
l. Brokerage and agency contract
responsibilities;
m. Real property
management;
n. Search, examination,
and registration of title;
o. Title
closing;
p. Appraisal of real
property;
q. Planning subdivision
developments and condominiums;
r.
Regulatory statutes;
s. Housing
legislation;
t. Fair
housing;
u. Real Estate Board
regulations;
v. Land use;
w. Business law;
x. Real estate economics;
y. Real estate investments;
z. Federal real estate law;
aa. Commercial real estate;
bb. Americans with Disabilities
Act;
cc. Environmental issues
impacting real estate;
dd. Building
codes and design;
ee. Local laws
and zoning;
ff. Escrow
requirements;
gg. Ethics and
standards of conduct; and
hh.
Common interest ownership.
3. Salespersons holding licenses in other
jurisdictions must complete 11 hours that shall include two hours in fair
housing laws; three hours in ethics and standards of conduct; two hours in real
estate agency; two hours in real estate contracts; and two hours of legal
updates and emerging trends, to include flood zone areas and the National Flood
Insurance Program. Such salespersons may substitute education completed in the
salesperson's jurisdiction for the remaining elective hours required by
subdivision 2 of this section. Brokers holding licenses in other jurisdictions
must complete 19 hours that shall include eight hours in supervision and
management of real estate agents and the management of real estate brokerage
firms, two hours of which shall include an overview of the broker supervision
requirements under this chapter and Chapter 21 (§
54.1-2100 et seq.) of Title 54.1
of the Code of Virginia; two hours in fair housing laws; three hours in ethics
and standards of conduct; two hours in real estate agency; two hours in real
estate contracts; and two hours in legal updates and emerging trends, to
include flood zone areas and the National Flood Insurance Program. Such brokers
may substitute education completed in the broker's jurisdiction for the
remaining elective hours required by subdivision 2 of this section.
4. The board may approve additional subjects
at its discretion and in accordance with §
54.1-2105.03 of the Code of
Virginia.
5. Credit for continuing
education course completion is given for each class hour/clock hour as defined
in
18VAC135-20-350.
6. Licensees are responsible for retaining
for three years and providing proof of continuing education. Proof of course
completion shall be made on a form prescribed by the board. Failure to provide
documentation of completion as directed by the board may result in the license
not being renewed, disciplinary action pursuant to this chapter, or
both.
7. Instructors who are also
licensees of the board may earn continuing education credit for teaching
continuing education courses.
8.
Any continuing education credits completed by the licensee in excess of that
required in the current license term that are obtained in the six months
immediately prior to the license expiration date shall carry over into the next
two-year renewal period.
