Virginia​ Out of State Broker Cooperation- An out-of-state licensee can receive a referral fee or share a commission with a Virginia licensee so long as out-of-state licensee does not physically enter the state to perform licensed services.
- A written agreement is not required between out-of-state licensee and Virginia licensee. - No Virginia laws bar the out-of-state licensee from bringing a lawsuit seeking to recover a commission. |
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Virginia Real Estate ReciprocityNone (Really)
They call it Reciprocity but the State doesn't seem to understand what Reciprocity means... "Applicants for a broker license must: (1) pass the State portion of the examination, (2) submit verification of experience (actively engaged as a salesperson or broker for 36 out of 48 months preceding application for licensure), (3) submit original transcripts or certified copies of transcripts from the educational institution where the applicant completed 180 classroom hours of broker pre-licensing courses substantially equivalent to Virginia's real estate education requirements, and (4) submit letters of certification from other jurisdictions where licensed. Also, in order to apply through reciprocity, the broker MUST hold a current broker license in another state. " Confirmed by Virginia DPOR - Real Estate Board, FAQs |
Specific to Virginia Real Estate |
Virginia Reverse ReciprocityThese states specifically mention Virginia in their Reciprocity: District of Columbia, Nevada (Salesperson Only) These States recognize any other State licenses but may have additional requirements: Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, Rhode Island, South Dakota, Tennessee, Vermont, Washington |
Virginia Real Estate LinksNo Reciprocity Page (but reciprocity is discussed in FAQs here) Virginia Real Estate Board |
Virginia Real Estate Customs
Attorneys and title companies conduct real estate closings.
Conveyance is by bargain-and-sale deed. Deeds of trust are the customary security instruments.
Virginia uses ALTA policies and endorsements.
Buyers pay the title insurance premiums and the various taxes.
Property tax payment dates vary.
Conveyance is by bargain-and-sale deed. Deeds of trust are the customary security instruments.
Virginia uses ALTA policies and endorsements.
Buyers pay the title insurance premiums and the various taxes.
Property tax payment dates vary.
