A Virginia real estate salesperson is found by the Virginia Fair Housing Board to have committed a discriminatory housing practice. The Board refers the matter to the Virginia Real Estate Board. Which of the following actions may the VREB take as a result of this referral?
Correct Answer
D) The VREB may initiate its own disciplinary proceedings and impose sanctions including suspension or revocation of the license
Under Va. Code § 54.1-2110 et seq., the VREB has independent authority to discipline licensees for violations of law, including fair housing law. A finding by the Virginia Fair Housing Board constitutes grounds for disciplinary action by the VREB. The VREB may conduct its own proceedings and impose sanctions including license suspension, revocation, fines, or other remedies. The two bodies operate independently and a licensee may face consequences from both.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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