Under Virginia License Law and VREB regulations, all of the following are recognized grounds for disciplinary action against a licensee EXCEPT:
Correct Answer
C) Representing both the buyer and seller in a transaction with full written disclosure and consent from both parties
Virginia permits disclosed dual agency — representing both the buyer and seller in the same transaction — provided that all parties give written informed consent. Under Va. Code § 54.1-2139, disclosed dual agency with proper written consent is a lawful form of agency representation in Virginia and is not a ground for disciplinary action. The other three options all represent clear violations under Va. Code § 54.1-2130 and VREB regulations.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
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