Who Grants a License: Licenses are granted by the Virginia Department of Professional and Occupational Regulation, Virginia Real Estate Board.
Qualifications to receive a License: A candidate must complete 60 clock hours of study at a VREB-approved real estate school (search schools here), pass a school-administered final exam, and pass a state exam. All candidates must submit a full set of fingerprints, prove legal presence and pass a background check. All candidates must be at least 18 years of age, and have a high-school diploma or its equivalent. For more information about qualifications, see the page titled Real Estate Board: Pre-License Education on the VREB website.
Applying for the Exams: The candidate should apply to take the state exam through the PSI website scheduling page. All candidates must pass the state exam within one year of the date of filing the application for eligibility to take the state exam. For more information, see the Commonwealth of Virginia Division of Professional and Occupational Regulation Candidate Information Bulletin.
Test Content: The Virginia state real estate licensing exam is comprised of two separate portions, the national portion and the state-specific portion. Five to ten questions disbursed throughout both portions of the exam are considered "experimental" questions and are not scored. Both tests are comprised of multiple choice questions with four answer choices provided for each question. Test takers are allotted 105 minutes to complete the national portion, and 45 minutes to complete the state-specific portion. A passing score requires the test taker to correctly answer 56 (out of 80) questions on the national portion, and 30 (out of 40) questions on the state-specific portion. The test is presented in a computer-based format, but accommodations for a paper-based test and/or oral testing can be provided with special arrangements.
The national portion of the test consists of 80 questions, and tests the candidate's knowledge of general real estate concepts, including the following subject areas:
Property ownership
Land use controls and regulations
Valuation and market analysis
Financing
General principles of agency
Mandated disclosures
Contracts
Transfer of title
Practice of real estate
Real estate calculations
Subdivisions, including deed restrictions
Commercial, industrial and income property
The state-specific test consists of 40 questions, and tests the candidate's knowledge of the state-specific concepts, including the following subject areas:
Licensing
Escrow Accounts
Disclosure Requirements
Agency Definitions and Relationships
Virginia Fair Housing Law and Regulations
Specific Acts Pertaining to Real Estate Practice
How to Apply for the License: Candidates must (within one year of taking the any portion of the state exam) provide the VREB with the following documents: (1) completed application and application fee; (2) original Virginia state real estate licensing exam score report(s); (3) certificate issued by VREB-approved school for completion of the 60-hour salesperson pre-licensure curriculum; and (4) full set of fingerprints (can be taken at the testing center). The Virginia Department of Professional and Occupational Regulation Real Estate Board Application Review Process is explained here. A video tutorial about the licensing process is available here.
Fees: VREB charges a license application fee, which is printed on the salesperson application form.
Who administers the test: VREB and PSI.
Post-Licensing Requirements – A new Virginia real estate licensee must take 30 credit hours of post-licensing education within the first licensing cycle. Further information is provided on the page titled Real Estate Board: Post-License Education, on the VREB website.
License Renewal Requirements – A Virginia real estate licensee must take 16 credit hours of continuing education (either online or in the classroom) from VREB-approved provider every two years. Further information is provided on the page titled Real Estate Board: Continuing Education, on the VREB website.
Applicable Regulations: Real estate licensees in Virginia are regulated under the Code of Virginia, Chapter 21, of Title 54.1, and the Commonwealth of Virginia Real Estate Board Real Estate Regulations.
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