Bill > SB866

This bill modifies the composition and qualifications for membership on Virginia's Real Estate Board by increasing from five to seven the number of consecutive years a licensed real estate broker or salesperson must be actively engaged in the profession before being eligible to serve on the board. Additionally, the bill introduces new requirements for board members who are licensed real estate professionals: at least one member must have expertise in residential property management, and each licensed member must demonstrate professional capability through one of three specific qualifications - experience in real estate credentialing/certification, certification as a real estate instructor by the board, or training/experience in adjudicating other real estate licensees. The board will continue to consist of nine total members, with seven licensed professionals and two citizen members, and members will still serve four-year terms. The bill also includes a provision ensuring that current board members with unexpired terms will not be immediately affected by these new requirements.

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https://lis.virginia.gov/bill-details/20251/SB866