About This Chapter
Virginia Agency Law - Chapter Summary
This chapter contains lessons to assist you in reviewing Virginia agency laws, including those relating to the relationships between brokers and salespeople and disclosure of agency. After completing the lessons, you should be able to do the following:
- Explain agency relationships and compensation practices in Virginia
- Understand agency representation and disclosures in Virginia
- Define the obligations and duties of agencies in Virginia
Study the lessons in whichever order you want - they are taught by expert instructors who guide you through the material. You can use the lesson quizzes to check your understanding as your progress through the chapter.
1. Agency Relationships & Compensation in Virginia: Definition & Types
This lesson will describe broker-salesperson relationships in Virginia real estate. You will learn the applicable laws and best practices governing broker compensation in Virginia.
2. Agency Representations & Disclosures in Virginia
This lesson will discuss agency representations and necessary disclosures in Virginia. You will also learn how limited real estate agency agreements work, and you will learn about the laws that govern agency disclosure, including designated and dual agency, and how an agent must act when they are working with unrepresented parties.
3. Agency Obligations & Duties in Virginia
This lesson will discuss agency obligations and duties in Virginia. It will also include discussion of handling documents properly, standard agent duties, duties to clients and customers, misrepresentation, omissions and brokerage agreements.
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Other chapters within the Virginia Real Estate Broker License Exam: Study Guide course
- Property & Land Characteristics
- Air, Mineral & Water Rights in Real Estate
- Liens & Encumbrances in Real Estate
- Types of Property Ownership
- Real Estate Land Use Controls & Regulations
- Property Valuation & Appraisal
- Basic Real Estate Financing Terms & Concepts
- Types of Real Estate Loans
- Lending & Underwriting Processes
- Agency Relationships & Agreements
- Disclosures of Property Conditions
- Real Estate Sales Contracts
- Leasing & Property Management
- Real Estate Title Transfers
- Real Estate Practices
- Common Real Estate Calculations
- Virginia Real Estate Licensing & Disclosure Requirements
- Virginia Real Estate Laws
- Virginia Real Estate Broker License Exam Flashcards