Virginia Law

A. Sole proprietor (principal broker owner). In accordance with § 54.1-2106.1 of the Code of Virginia, broker owned sole proprietorships are not required to hold a firm license. An individual operating under a fictitious or assumed name must register any trade or fictitious names with the State Corporation Commission in accordance with Chapter 5 (§ 59.1-69 et seq.) of Title 59.1 of the Code of Virginia and must provide the address for the individual's residence and address for the individual’s place of business.

B. Sole proprietor (nonbroker owner), partnership, association, limited liability company, or corporation.

1. Every firm must secure a firm license before transacting real estate business. This license is separate and distinct from the licenses required of the individuals or business entities who are active in the firm's brokerage business.

2. Each applicant must disclose the name under which the applicant holds itself out to the public. Firms must register any trade or fictitious names with the State Corporation Commission in accordance with Chapter 5 of Title 59.1 (§ 59.1-69 et seq.) of the Code of Virginia.

3. Each applicant must disclose the address of the place of business for the firm.

4. Firms must be organized as business entities under the laws of the Commonwealth of Virginia or otherwise authorized to transact business in Virginia.

C. Each real estate firm is required to have a principal broker whose license is active.

D. Branch office license in accordance with § 54.1-2106.1 of the Code of Virginia. If a principal broker maintains more than one place of business within the state, the principal broker must secure a branch office license for each additional place of business maintained other than the broker's primary place of business noted on the firm license application.

1. No branch office license will be required for:

a. A location that the principal broker or those employed by or affiliated as an independent contractor with the principal broker does not own, lease, or maintain exclusive access to, maintenance of, and control of, unless it is held out to the public as a location where such persons or entities are regularly engaging in the activities of a real estate broker or salesperson;

b. A motor vehicle or watercraft;

c. A place that is solely devoted to advertising real estate matters of a general nature or to making a real estate broker's business name generally known, such as a trade show or expo;

d. A residence, unless it is held out to the public as a location where the principal broker or those employed by or affiliated as an independent contractor with the principal broker is regularly engaging in the activities of a real estate broker or salesperson;

e. A post office box, mail drop location, or other similar facility; or

f. A public location, such as a coffee shop or restaurant.

2. Each application must disclose the name of the firm, the location of the branch office, and the name of the supervising broker for that branch office.

3. The branch office license must be maintained at the branch office location.