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This action amends the Virginia Real Estate Board Licensing Regulations to conform to changes resulting from the enactment of Chapter 157 of the 2024 Acts of Assembly. The legislation amends the Universal Licensing Recognition (“ULR”) statute in § 54.1-205 of the Code of Virginia to provide an additional entryway for licensed salespersons and brokers in neighboring states (District of Columbia, Maryland, North Carolina, Kentucky, Tennessee, or West Virginia). The proposed amendments conform applicable provisions of the regulation to the legislation. Substantive amendments include: 1. Section 18VAC135-20-10 is revised to incorporate by reference the statutory definitions of “another state” and “neighboring state.” These terms are defined in § 54.1-205 of the Code of Virginia. 2. The provisions in 18VAC135-20-65 regarding universal license recognition applicants are revised to provide an additional entryway to licensure in Virginia for individuals licensed as salespersons or brokers in neighboring states. The section provides for the qualifications necessary for such individuals to receive a license under ULR. Qualifications include (i) holding a current and valid license with a similar scope of practice in a neighboring state; (ii) payment of an application fee; and (iii) passing the Virginia Real Estate Exam.
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