Virginia Real Estate Salesperson Cheat Sheet.
The night-before summary, built like the exam.

Virginia exam at a glance

Both a state and a national portion, offered daily. Exam fee $60. A passing score is valid for 1 year — the shortest window worth writing down, because it governs how long you can wait before applying.

The deadlines that actually bind

• Application due within 45 days of fingerprinting.
• Background check valid for 45 days.
• Processing takes about 2 weeks.
• Passing score valid 1 year.

Those windows overlap. Passing and then waiting a month can leave the background work expired before processing completes.

Virginia education

• Prelicense 60 hours across 9 courses.
• Post-license 30 hours, due within 1 year.
• Continuing education 16 hours per cycle.
• Licence term 2 years.

Agency: OLD CAR

Obedience, loyalty, disclosure, confidentiality, accounting, reasonable care. Loyalty puts the principal first; accounting bars commingling entrusted funds. Confidentiality survives termination. Dual agency needs informed written consent from both sides. Customers get only honesty, fair dealing and disclosure of material defects.

Listings and contracts

• Exclusive right to sell — broker paid regardless of who finds the buyer.
• Exclusive agency — broker paid unless the seller finds the buyer.
• Open — only the procuring broker is paid.

A counteroffer rejects the original offer. Contract essentials: competent parties, mutual assent, lawful object, consideration.

Deeds and title

• General warranty — defects from any time.
• Special warranty — only the grantor's own period.
• Quitclaim — no warranty at all.

Delivery is required for validity. Recording gives constructive notice; title insurance covers defects recording does not prevent.

Fair housing and math

Seven classes: race, colour, religion, national origin, sex, disability, familial status. Steering, blockbusting and redlining are the named prohibited practices. LTV uses the LESSER of appraised value or sale price; value = NOI / cap rate; GRM = price / monthly rent.