Virginia License Law
Which of the following activities requires a real estate license in Virginia?
ASelling your own home
BManaging rental property you personally own
CNegotiating the sale of another person's real property for compensation✓ Correct
DAuctioning personal property at an estate sale
Explanation
Negotiating real estate transactions for others for compensation requires a Virginia real estate license. Selling your own property or managing your own rentals does not.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
State-Specific Concepts
License Law
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