Virginia License Law
A Virginia real estate transaction that involves a buyer who is also a licensed agent in another state must:
ABe handled by a Virginia broker only
BInclude disclosure that the buyer holds a license in another state, if required by Virginia law or ethical standards✓ Correct
CBe reported to both states' real estate boards
DAutomatically qualify for a commission
Explanation
Virginia agents and the out-of-state buyer-licensee should follow disclosure requirements. If an agent is purchasing property, their professional knowledge and status should be disclosed to ensure transparency.
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Key Terms to Know
Math Concepts
State-Specific Concepts
Disclosure Requirements
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