Property Management
In Virginia, a property manager who also acts as the listing broker for the sale of a managed property must:
AResign from property management before listing the property
BDisclose the dual role to all parties and obtain appropriate consents✓ Correct
CObtain VREB approval for the combined role
DCharge a reduced commission to offset the management fees
Explanation
A property manager who also lists the managed property for sale holds multiple roles (property manager and listing broker) and must disclose all roles and potential conflicts of interest, obtaining necessary consents from all parties.
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