Penalties for Violating Virginia License Law

Question 1

The REB can issue a

Answer 1

Reprimand

Question 2

Place you on probation

Answer 2

With conditions of additional education or examinations

Question 3

Suspend, revoke or deny renwal of your

Answer 3

License

Question 4

Impose a civil penalty for each violation up to

Answer 4

$2500

Question 5

Refer the matter for further action to

Answer 5

The Commonwealth Attorney

Question 6

Effect of others at firm

Disciplinary action can be take against

Answer 6

Principal Broker
Supervising Broker

Question 7

If principal broker’s license is revoked, suspended or denied renewal

Answer 7

All licensees active with the firm must return their licenses with the REB until reactivated with another broker.

Question 8

Performing brokerage activities without a license is a Class 1 misdemeanor

Answer 8

Carries a fine of $1,000 per violation or the foreiture of of commission received - whichever is greater

Question 9

Repeat offenders who do this 3 x in one year raise the misdemeanor to class six with a fine of

Answer 9

$10,000 per violation