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Virginia's real estate market stretches from the suburbs of Washington, D.C. to the beaches of Virginia Beach, making it one of the most diverse and active markets on the East Coast. The Virginia Real Estate Board (VREB) administers the licensing program, and the exam is delivered by PSI.
Virginia requires 60 hours of VREB-approved education:
Your school reports your completion to VREB. You then have one year to pass the licensing exam.
The 150-minute time limit is tighter than many states, giving you about 75 seconds per question.
Virginia Real Estate Board Regulations
Virginia Agency Law
Key Virginia Topics
Virginia Residential Property Disclosure Act: Sellers must complete the disclosure form. Know the seven categories of required disclosures and the buyer's right to void the contract if disclosures are not provided.
Wet Settlement Act: Virginia requires that certain loan closing funds be in the form of certified checks, cashier's checks, or wire transfers. Personal checks cannot be used for amounts over a threshold.
Virginia Common Interest Community Act: Governs condos, cooperatives, and planned communities. Know the disclosure requirements for resales in these communities.
Military Clause: Virginia has special provisions for military personnel regarding lease termination and real estate transactions. This is tested because of the state's large military population.
Grantor's Tax: Virginia charges a grantor's tax on real estate transfers. Know the rate and how to calculate it.
Weeks 1-2: National content fundamentals
Week 3: Virginia state law, agency, disclosure, and settlement procedures
Week 4: Practice exams and weak-area review
The 40-question state portion means each Virginia-specific question carries significant weight. Focus on the Residential Property Disclosure Act, Wet Settlement Act, and VREB regulations.
Schedule at candidate.psiexams.com. Testing centers are available throughout Virginia including Northern Virginia, Richmond, Virginia Beach, and Roanoke.
After passing, apply for your license through VREB and find a principal broker.
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