Broker Angela wants to open a branch office in a neighboring city while maintaining her main office. Under Virginia law and VREB regulations, what is required for Angela to legally operate this branch office?
Correct Answer
B) Angela must designate a supervising broker for the branch office and register the branch with VREB
Under 18 VAC 135-20-130, a broker who wishes to operate a branch office in Virginia must register the branch office with VREB and designate a supervising broker (who may be the principal broker or another licensed broker) responsible for the activities conducted at that location. Each branch office must be separately registered.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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