Jennifer holds a Virginia broker license but prefers to work as an agent under the supervision of another broker rather than running her own firm. She affiliates with Richmond Realty Group, where Tom is the principal broker. What is Jennifer's license category called in Virginia?
Correct Answer
A) Associate broker
In Virginia, a licensed broker who chooses to affiliate with another broker and work under that broker's supervision — rather than operating an independent brokerage — is classified as an associate broker. Jennifer holds a full broker license but functions in a subordinate capacity under Tom, the principal broker of Richmond Realty Group. This is a recognized and common license category under Virginia law.
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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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