Virginia Code 54.1-2110: Resident broker to maintain place of business in Virginia.
A. Every resident real estate broker shall maintain a place of business in the Commonwealth.
Terms Used In Virginia Code 54.1-2110
- Branch office: means any place of business of a principal broker in the Commonwealth that is not his primary place of business. See Virginia Code 54.1-2100
- Place of business: means a location where the principal broker, or individuals or business entities employed by or affiliated as an independent contractor with the principal broker, regularly transacts the business of a real estate broker or salesperson. See Virginia Code 54.1-2100
- real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
- Real estate broker: means any individual or business entity, including a partnership, association, corporation, or limited liability company, who, for compensation or valuable consideration, (i) sells or offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, including units or interest in condominiums, cooperative interest as defined in § Virginia Code 54.1-2100
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
B. Any nonresident real estate broker residing in a state that mandates resident real estate brokers of the Commonwealth to maintain a place of business in such mandating state shall maintain a place of business in the Commonwealth.
C. Every principal broker shall have readily available to the public in the primary place of business the firm license, the principal broker license, and the license of every salesperson and broker active with the firm. Each branch office shall have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office.
Code 1950, § 54-733; 1981, c. 34; 1988, c. 765; 2024, cc. 327, 352.