Agency
Under Virginia's agency law, the principal broker of a firm is responsible for:
AOnly their own personal real estate transactions
BAll licensed activities conducted by licensees affiliated with the firm✓ Correct
CThe personal finances of affiliated licensees
DSetting commission rates in the local market
Explanation
The principal broker bears responsibility for supervising all licensed real estate activities performed by affiliated salespersons and associate brokers. This supervisory duty is a core requirement of the principal broker's license.
Related Virginia Agency Questions
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