Who is responsible for establishing regulations for real estate transactions in Virginia?

The Virginia Real Estate Commission is the entity responsible for establishing regulations for real estate transactions in Virginia. This commission operates under the Department of Professional and Occupational Regulation and is tasked with overseeing the licensing and regulation of real estate professionals to ensure that they adhere to the state's laws and regulations. The commission's role includes creating rules that govern the practice of real estate, handling complaints against licensees, and ensuring compliance with the Virginia Real Estate Board regulations.

While the Department of Professional and Occupational Regulation oversees the overall regulatory framework for several professions, including real estate, it is the Virginia Real Estate Commission that specifically addresses issues directly related to real estate transactions and licensee conduct. The General Assembly of Virginia does legislate laws, but they are broader in scope and would not involve the day-to-day regulatory functions that the commission handles. The Virginia Association of Realtors, while influential in advocating for real estate professionals, does not hold regulatory power over real estate transactions. Thus, the Virginia Real Estate Commission is the correct choice as it is directly tasked with the establishment of regulations specific to the real estate industry in the state.