Real Estate Board; duties of real estate licensees, exemption, etc., of continuing education hours. (HB567)

Introduced By

Del. Jackson Miller (R-Manassas) with support from co-patron Sen. Monty Mason (D-Williamsburg)

Description

Real Estate Board; duties of real estate licensees; residential real estate transactions. Gives the Real Estate Board the authority to take a disciplinary case against a licensee under advisement, defer a finding in such case, and dismiss such action upon terms and conditions set by the Board. Among other things, the bill (i) authorizes the Real Estate Board to grant exemptions or waive or reduce the number of continuing education hours required in cases of certified illness or undue hardship; (ii) requires the supervising broker of a branch office to provide the name and license number of each real estate licensee working in the branch; (iii) prohibits a real estate licensee in a residential real estate transaction from acting as a nonstandard agent; (iv) provides that standard agency only applies in residential real estate transactions; (v) clarifies that the agency provisions apply unless they are modified by the brokerage agreement; (vi) provides that the law relating to real estate licensees retained by sellers, buyers, tenants, or landlords to lease property or to manage property only applies to residential real estate transactions; (vii) provides that notwithstanding any other provision of law requiring written brokerage agreements or governing the duties of licensees, nothing shall be construed to require that a written agreement between a licensee and a prospective buyer or tenant be executed prior to the licensee's showing properties to the prospective buyer or tenant; (viii) deletes the disclosure of brokerage obligation in commercial transactions; and (ix) provides that commercial agents may only act as agents or independent contractors. The bill also provides that nothing creates a civil cause of action against a real estate licensee for false information. The bill contains technical amendments. Read the Bill »

Outcome

History