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This action amends the Virginia Real Estate Board Licensing Regulations to conform to changes resulting from the enactment of Chapters 459 and 621 of the 2024 Acts of Assembly. The legislation adds to the definition of "real estate broker" any individual or business entity who sells or offers to sell, buys or offers to buy, negotiates, or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in any 12-month period for compensation or valuable consideration. The legislation also makes technical changes to Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1 of the Code of Virginia, including the repeal of § 54.1-2101. The proposed amendments make technical changes to the regulation to conform applicable provisions of the regulation to the legislation. References to the repealed § 54.1-2101 in the regulation are removed from the regulation.
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