What is the role of a licensed real estate broker in Virginia?

A licensed real estate broker in Virginia plays a crucial role in overseeing the activities of salespersons. This includes providing guidance, support, and supervision to ensure that salespersons adhere to legal and ethical standards within the real estate industry. Brokers are responsible for training and mentoring their sales team, helping them navigate transactions, and ensuring compliance with state regulations.

While property maintenance, determining property values, and handling client financing are important aspects of real estate transactions, they are typically not the primary responsibility of a broker. Instead, these tasks may fall under the purview of property managers, appraisers, or mortgage professionals, respectively. The broker's primary focus is on the management and oversight of their sales team, which underscores the vital role they play in the successful operation of a real estate office.