Earlier today, all Virginia brokers received the following notification:
In early March 2013, the Virginia Department of Professional and Occupational Regulation (DPOR) issued clarification about its real estate licensee transfer policy that created concern about when a transferring licensee is able to practice at his new firm. In response, VAR has been consistently working with DPOR staff and Virginia Real Estate Board members on a solution that will allow licensees to transfer seamlessly to a new firm.
We are pleased to report that the Real Estate Board took action today that will allow licensees to begin their affiliation with a new firm immediately. The Board approved a streamlined transfer process that allows a licensee to begin work at his new firm on the day the transferring agent and new broker sign and submit a fully completed application to DPOR.
The new transfer application process will require the following:
- The new broker must affirm that she has checked to make sure the transferring agent’s license is active and has not expired. She can do this by going to DPOR’s License Lookup page (http://www.dpor.virginia.gov/LicenseLookup/) and entering the agent’s name.
- The new broker must agree to assume supervisory responsibility of the transferring licensee, effective as of the date the new broker signs the fully completed transfer application. The new broker also affirms her belief that the licensee is of good character and competent to practice real estate.
- The transferring licensee, by signing the transfer application, certifies that he has notified his old (current) firm that he is leaving.
Submission of the application and fee must occur immediately, and the new broker and transferring licensee should ensure the application is fully completed prior to submission to avoid any unnecessary delays in processing. If there are deficiencies in the application, the licensee and broker will be notified and will have ten (10) days to correct the application to avoid possible disciplinary action.
The streamlined transfer application and accompanying guidance document are available on the Real Estate Board web page at http://www.dpor.virginia.gov/Boards/Real-Estate/.
We have posted information on this new process on our website, including a video explanation featuring VAR Legal Counsel Blake Hegeman. CLICK HERE to view the webpage and video.
VAR is very appreciative of DPOR staff and the Real Estate Board’s receptiveness and efforts on this solution. Your local associations were also critical to this effort.
