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This action amends the Virginia Real Estate Board Licensing Regulations to conform to changes resulting from the enactment of Chapters 29 and 120 of the 2024 Acts of Assembly. The legislation amends the continuing education requirements for salespersons and brokers licensed by the Board to renew licensure. The legislation increases the number of hours for required courses and decreases the number of elective hours allowed. The proposed amendments conform applicable provisions of the regulation to the legislation. Section 18VAC135-20-101 will be revised as follows: • Salespersons will be required to complete 11 hours of continuing education in mandated subjects, an increase from the current requirement of eight (8) hours. The 11 hours will consist of two hours in fair housing laws; three hours of ethics and standards of conduct; two hours in real estate agency; two hours in real estate contracts; and two hours in legal updates and emerging trends, to include flood zone areas and the National Flood Insurance Program. The number of hours for elective topics will be reduced from eight (8) to five (5). These changed requirements also apply to salespersons licensed in other jurisdictions who hold Virginia licenses. • Brokers will be required to complete 19 hours of continuing education in mandated subjects, an increase from the current requirement of 16 hours. The 19 hours will consist of eight hours in supervision and management of real estate agents and the management of real estate brokerage firms; two hours to include an overview of broker supervision requirements; two hours in fair housing laws; three hours in ethics and standards of conduct; two hours in real estate agency; two hours in real estate contracts; and two hours in legal updates and emerging trends, to include flood zone areas and the National Flood Insurance Program. The number of hours for elective topics will be reduced from eight (8) to five (5). These changed requirements also apply to brokers licensed in other jurisdictions who hold Virginia licenses.
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