The first step toward working as a real estate agent in Virginia is to obtain your Virginia Real estate License. Almost everything associated with this procedure can now be completed online. The only face-to-face need is passing the Virginia real estate license exam; all else can be handled virtually. This article explains how to get a real estate license in Virginia and the requirements. We also give an explanation about the cost of a real estate license in Virginia. Let’s dig in!
Who Is a Real Estate Agent?
A real estate agent is a trained professional who negotiates transactions between landlords and tenants, as well as buyers and sellers. These experts in the area know the market inside and out and can help clients every step of the way. Brokers and real estate agencies employ real estate agents, who earn a commission from each sale they broker.
Researching properties, negotiating deals, drafting contracts, and offering pricing, marketing, and staging advice are just a few of the many duties of a real estate agent. A real estate agent’s other job is to ensure that their client’s real estate transaction goes off without a hitch from a legal and financial perspective. One of the most important qualities in a real estate agent is their ability to connect with and earn the trust of their clients.
What Is the Workplace of a Real Estate Agent Like?
Workplace diversity and adaptability are hallmarks of the real estate industry. Real estate agents, unlike those in many other professions, often have the flexibility to work either from home or while traveling. Client meetings and property tours make up a significant portion of a real estate agent’s day. Because of this, real estate agents are constantly on the move as they visit different properties and meet with prospective buyers and sellers. It is not uncommon for real estate agents to meet with clients in other cities, states, or even countries.
Real estate agents, whether they work out of a typical office or from home, spend a lot of time there, in addition to showing properties and meeting with customers. Agents use this time to market themselves and their listings to prospective buyers, as well as to take care of administrative responsibilities like drafting contracts and negotiating sales.
Many real estate brokers get compensated solely through commission, either for helping a client buy a home or for selling one. Agents are often under a lot of pressure to bring in new business and make deals happen. However, the payoffs for those that are successful can be quite large.
How to Get a Real Estate License in Virginia
A job in real estate is widely sought after, and in Virginia, it pays better than the national average. You need to earn your real estate license in Virginia before you can legally work in the field there. Here are some steps you can take to get a real estate license in Virginia:
#1. Real Estate Pre-Licensing Course
Before taking the licensing exam, real estate sales agents in Virginia must complete 60 hours of pre-licensing study. The vast majority of people today get their required education for getting a license online. The vast majority of real estate courses available online are of the self-paced variety and come equipped with study aids like real estate practice examinations and flashcards. Some even “guarantee” that, if you take and pass their course, you will be successful on your first go at the exam. The specifics of these advantages can vary depending on the school and program you enroll in, so it’s important to find an option that works for you.
Just because you’ve finished a course doesn’t mean you’re any better prepared for the exam or to succeed as an agent. The state of Virginia is unusual in that it mandates proctored testing for the last stage of the pre-licensing process. The state exam is nothing like this. Your pre-licensing education provider will give you this exam to ensure that you have learned and retained the material covered in your course.
This exam is closed-book and closed-note, the same as the state exam. You may use a scratch sheet of paper and a basic-function calculator, but no other electronic devices or access to the internet may be used. This test can typically be taken at home, with the presence of a proctor for your personal protection. Verify that a proctor is included in your real estate pre-licensing course before making your purchase.
#2. Virginia Real Estate License Exam
Now that you’ve finished school, you can begin to prepare for the real estate exam. PSI Exams Online is responsible for administering the Virginia real estate license exam. By signing up for an account on the PSI website, you may schedule your exam, pay the exam price, and submit your application all in one convenient online location. It may take up to two weeks to process your application to take the exam.
A paper detailing your score, passing or failing, will be provided to you immediately following the conclusion of your exam. If the result is “Fail,” you will be able to examine how you performed on each section of the test. Use this as a study guide if you’re thinking about taking the exam again.
#3. Pass the Exam
A total of 120 questions (40 state-specific and 80 national) must be answered within 150 minutes in order to pass Virginia’s real estate salesperson licensing exam. Examinations can be taken in the cities of Charlottesville, Richmond, Roanoke, Vienna, and Virginia Beach. The exam to earn a real estate license in Virginia is rigorous. Almost 60% of students who take the examination do not pass. This is why picking a real estate school that offers unlimited practice exams is crucial. You should prepare for the exam by doing as much practice as possible.
If you don’t get it the first time, that’s okay. You can submit a new application and retake the exam. Your passing score will be valid for one full year, allowing you plenty of time to finish the rest of the requirements for your Virginia real estate license.
#4. Fingerprinting and Background Check
The next step after applying is to get fingerprinted and checked out legally. Before an individual may become a licensed real estate agent in Virginia, they must first undergo a background check, as mandated by the Virginia Real Estate Board.
After passing the Virginia real estate license exam at the PSI testing location, you will undergo electronic fingerprinting. The background check procedure will begin once you have completed and submitted your fingerprints. The Virginia Real Estate Commission will look through the results of your background check to verify your suitability. They may contact you during this time to request clarification or further information.
A real estate license in Virginia may not be available to you if you have a criminal record or a judgment entered against you. If so, submit the Criminal Conviction Reporting Form and your state’s criminal history record. An official national criminal record check or a copy of the final Order, judgment, or case decision issued by a court with the jurisdiction to do so would also suffice. The Board may request further documentation from you regarding the conviction after receiving this information from the Virginia Department of Professional and Occupational Regulation, and you may be required to attend an Informal Fact-Finding session.
#5. Find a Broker
The test is finished and done once you’ve passed it. You may focus on your new real estate professionals now. As a prospective real estate agent in Virginia, picking a broker is a crucial first step. Any real estate agent working in the state of Virginia must report to a broker who holds a valid license in the state. Yet there’s more to it than that. Your broker will also serve as a guide while you start up your company.
Don’t rush things; instead, talk to several different brokers. Learn about the atmosphere at the office, the broker’s expectations, the availability of training, and the commission split structure. Having a broker that is prepared to invest in your training and growth as a new agent may be worth a reduced commission split. Picking a broker solely based on their commission structure is a bad idea. You need a broker’s contact information to apply for a salesperson license.
#6. Apply for your Virginia Salesperson License
Now that you’ve decided on a broker, you may begin the application process for your Virginia real estate salesperson’s license. To apply for a license to sell real estate in Virginia, fill out a Virginia DPOR Real Estate Salesperson License Application and pay the associated cost. Please give the licensing department up to three weeks to review your application.
Now you can call yourself a licensed real estate agent in the Commonwealth of Virginia. You are free to serve as an agent for both buyers and sellers in real estate deals.
Real Estate License Virginia Requirements
The requirements to become a real estate agent in Virginia are:
- Be a citizen of the United States or a lawfully admitted alien
- Be 18 years of age or older
- Must have a high school degree or equivalent (GED)
Virginia Post-Licensing Education
To keep their salesperson licenses in good standing with the Virginia Real Estate Board, all newly licensed salespeople have one year from the last day of the month in which they were granted to complete a 30-hour post-license education (PLE) program.
The 30-hour PLE program will consist of nine courses:
- 2 hours of Fair Housing, ADA, and Civil Rights
- 6 hours of Real Estate Law and Regulations
- 3 hours of Ethics and Standards of Conduct
- 2 hours of Current Industry Issues and Trends
- 3 hours of Agency Law
- 6 hours of Contract Writing
- 3 hours of Risk Management
- 3 hours of Escrow Requirements
- 2 hours of Real Estate-Related Finance
Real Estate License Virginia Cost
The total cost of getting a real estate license in Virginia can range from around $382 to $832, depending on factors like which real estate school you attend and how many times you take the licensing exam.
How Long Does it Take to Get a Virginia Real Estate License?
Prerequisite coursework and exam review are the two most time-consuming aspects of obtaining a license. People usually need between three and six months to complete the process. You might be able to finish in two months if you work on it nonstop and put in a lot of effort studying. Going any faster than this is not advised. Don’t cram the night before the test; give yourself plenty of time to study.
Is a Virginia Real Estate License Worth the Cost?
You may be thinking, in light of these initial costs and the potential for a slow start to your new income, whether or not getting your real estate license is worthwhile. If you’re the type of person who takes initiative and works hard, then yes! Getting a real estate license in Virginia is a great idea because, as reported by Indeed, the average pay of a real estate agent in Virginia with 1-2 years of experience is $96,794.
The potential for financial gain from real estate investments is virtually boundless. It is possible to earn six figures annually in commissions if you put in the effort to acquire a large number of clients and consistently deliver excellent results.
How Do Real Estate Agents Get Paid in VA?
Instead of receiving a regular salary, real estate brokers are compensated on a commission basis for each successful real estate transaction they facilitate for their clients.
How Many Times Can You Take Virginia Real Estate Exam?
You are allowed an unlimited number of attempts at the Virginia state license exam. To retake the exam, you need only contact PSI to set up a new test date and pay the exam cost.
Final Thoughts
Most importantly, Realtors are preferred by well-informed buyers and sellers over traditional real estate brokers. Agents that are serious about the real estate business will go the further step of joining NAR and earning the Realtor designation to demonstrate their commitment to the industry. Realtors also get instant credibility and access to more networking and professional development opportunities.
All that is required to join the Association of Realtors and use the Realtor designation in Virginia is a valid real estate license. To become a member, all you have to do is fill out an application and pay the fee. If you join the local association, you’ll also be a member of the state and national organizations.
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