Virginia 2024 Regular Session Status: Enacted

SB 437 — Real estate brokers; definitions, prohibits certain locations from being used as places of business.

Last action — Acts of Assembly Chapter text (CHAP0352)

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House of Delegates
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 09, 2024. Enacted.

Signed by Governor Glenn Youngkin (Republican) on April 02, 2024.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 70% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Department of Professional and Occupational Regulation; real estate brokers; places of business. Defines "place of business" for real estate brokers. The bill requires every principal broker to have readily available to the public in his primary place of business the firm license, principal broker license, and the license of every salesperson and broker active with the firm and requires each branch office, defined in the bill, to have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office. Finally, the bill requires any nonresident real estate broker residing in a state that mandates resident real estate brokers of the Commonwealth to maintain a place of business in such mandating state to maintain a place of business in the Commonwealth. This bill is identical to HB 1237.

Bill Text

What changed in the latest version

84 added · 80 removed

Plain-language change summary

The recent changes to Bill SB 437 involve clarifying definitions related to real estate business operations in Virginia. The updated bill emphasizes what constitutes a "branch office," specifies how "distance learning" can be delivered, and describes what a "place of business" entails for real estate brokers. These amendments aim to provide clearer guidelines for real estate professionals, ensuring they understand the regulations surrounding business locations and educational courses, which ultimately enhances industry standards and consumer protection.

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SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY –– CHAPTER E An Act to amend and reenact §§ 54.1-2100, 54.1-2106.1, and 54.1-2110 of the Code of Virginia, N business;
VIRGINIA ACTS OF ASSEMBLY -- 2024 SESSION CHAPTER 352 An Act to amend and reenact §§ 54.1-2100, 54.1-2106.1, and 54.1-2110 of the Code of Virginia, relating to Department of Professional and Occupational Regulation;
prohibited locations.ssional and Occupational Regulation;
plaRes of O [S 437] L Approved L Be it enacted by the General Assembly of Virginia:
places of business;
E 1.
prohibited locations.
That §§ 54.1-2100, 54.1-2106.1, and 54.1-2110 of the Code of Virginia are amended and D ree§ 54.1-2100.
[S 437] Approved April 2, 2024 Be it enacted by the General Assembly of Virginia:
1.
That §§ 54.1-2100, 54.1-2106.1, and 54.1-2110 of the Code of Virginia are amended and reenacted as follows:
§ 54.1-2100.
"Branch office" means any place of business of a principal broker in the Commonwealth that is not his primary place of business.
"Branch office" means any place of business of a principal broker in the Commonwealth that is not his"Distance learning" means instruction delivered by an approved provider through a medium other than a classroom setting.
"Distance learning" means instruction delivered by an approved provider through a medium other than a classroom setting.
Such courses shall be those offered by an accredited institution of higher education, high school offering adult distributive education courses, other school or educational institution, or real estate professional association or related entities.
Such courses shall be those offered by an accredited institution of higher education, high school offering adult distributive education courses, other school or educationBl institution, or real estate professional association or related entities.
"Place of business" means a location where the principal broker, or individuals or business entities employed by or affiliated as an independent contractor with the principal broker, regularly transacts the business of a real estate broker or salesperson.
3 employed by or affiliated as an independent contractor with the principal broker, regularly traEsacts the business of a real estate broker or salesperson.
"Real estate broker" means any individual or business entity, including a partnership, association, corporation, or limited liability company, who, for compensation or valuable consideration, (i) sells or offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, including units or interest in condominiums, cooperative interest as defined in § 55.1-2100, or time-shares in a time-share program even though they may be deemed to be securities or (ii) leases or off"Real estate team" means two or more individuals, one or more of whom is a real estate salesperson or broker, who (i) work together as a unit within the same brokerage firm, (ii) represent themselves to the public as working together as one unit, and (iii) designate themselves by a fictitious name.
"Real estate broker" means any individual or business entity, including a partnership, association, corporation, or limited liability company, who, for compensation or valuable consideration, (i) sells or offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, including units or interest in condominiums, cooperative interest as defined in § 55.1-2100, or time-shares in a time-share program even though they may be deemed to be securities or (ii) leases or offers to lease, or rents or offers for rent, any real estate or the improvements thereon for others.
"Real estate team" means two or more individuals, one or more of whom is a real estate salesperson or broker, who (i) work together as a unit within the same brokerage firm, (ii) represent themselves to the public as working together as one unit, and (iii) designate themselves by a fictitious name.
No business entity, other than a sole proprietorship, shall act, offer to act, or advertise to act, as a a fictitious name.
No business entity, other than a sole proprietorship, shall act, offer to act, or advertise to act, as a real estate firm without a real estate firm license from the Board.
No business entity shall be granted a firm license unless (i) every managing member in of a limited liability company, officer of a corporation, partner within a partnership, or associate within an association who actively participates in the firm brokerage business holds a license as a real estate broker;
Such firm may be granted a license in a fictitious name.
No business entity shall be granted a firm license unless (i) every managing member of a limited liability company, officer of a corporation, partner within a partnership, or associate within an association who actively participates in the firm brokerage business holds a license as a real estate broker;
However, nothing herein shall be construed to prohibit a broker operating a brokerage firm from having that such separate business entity otherwise complies with this section.
However, nothing herein shall be construed to prohibit a broker operating a brokerage firm from having a business entity separate from the brokerage firm for such broker's own real estate business, provided that such separate business entity otherwise complies with this section.
A non-broker-owned solerovided proprietorship shall obtain a license from the Board.
A non-broker-owned sole proprietorship shall obtain a license from the Board.
No business entity shall be granted a business entity salesperson's license unless every owner or officer who from the Board.
No business entity shall be granted a business entity salesperson's license unless every owner or officer who actively participates in the brokerage business of such entity holds a license as a salesperson or broker from the Board.
The Board shall establish standards in its regulations for the names of business entityer salespersons when more than one licensee is an owner or officer.
The Board shall establish standards in its regulations for the names of business entity salespersons when more than one licensee is an owner or officer.
of 2 D.
D.
No group of individuals consisting of one or more real estate brokers or real estate salespersons, or a combination thereof, shall act as a real estate team without first obtaining a business entity salesperson's license from the Board.
No group of individuals consisting of one or more real estate brokers or real estate salespersons, or a combination thereof, shall act as a real estate team without first obtaining a business entity of 2 salesperson's license from the Board.
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Action History

  1. Acts of Assembly Chapter text (CHAP0352)

  2. Approved by Governor-Chapter 352 (effective 7/1/24)

  3. Governor's Action Deadline 11:59 p.m., April 8, 2024

  4. Enrolled Bill Communicated to Governor on March 11, 2024

  5. Signed by President

  6. Signed by Speaker

  7. Impact statement from DPB (SB437ER)

  8. Bill text as passed Senate and House (SB437ER)

  9. Enrolled

  10. Impact statement from DPB (SB437H1)

  11. Title replaced 24107780D-H1

  12. House substitute agreed to by Senate (39-Y 0-N)

  13. Passed by for the day

  14. VOTE: Block Vote Passage (98-Y 0-N)

  15. Passed House with substitute BLOCK VOTE (98-Y 0-N)

  16. Engrossed by House - committee substitute SB437H1

  17. Committee substitute agreed to 24107780D-H1

  18. Read third time

  19. Read second time

  20. Committee substitute printed h4410

  21. Reported from General Laws with substitute (22-Y 0-N)

  22. Referred to Committee on General Laws

  23. Read first time

  24. Placed on Calendar

  25. Read third time and passed Senate (39-Y 0-N)

  26. Engrossed by Senate - committee substitute SB437S1

  27. Committee substitute agreed to 24105412D-S1

  28. Reading of substitute waived

  29. Read second time

  30. Impact statement from DPB (SB437S1)

  31. Constitutional reading dispensed (38-Y 0-N)

  32. Committee substitute printed 24105412D-S1

  33. Reported from General Laws and Technology with substitute (15-Y 0-N)

  34. Senate committee, floor amendments and substitutes offered

  35. Impact statement from DPB (SB437)

  36. Referred to Committee on General Laws and Technology

  37. Prefiled and ordered printed; offered 01/10/24 24104479D

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 147 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (147)

147 members have not signed on to this bill.

Show all 147 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

House substitute agreed to by Senate (39-Y 0-N)

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 39001
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Aaron R. Rouse — Yea
Angelia Williams Graves — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Glen H. Sturtevant, Jr. — Yea
Hashmi, Ghazala F. — Yea
J.D. "Danny" Diggs — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Not Voting
McGuire, John J., III — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Surovell — Yea
Stella G. Pekarsky — Yea
Subramanyam, Suhas — Yea
T. Travis Hackworth — Yea
Tammy Brankley Mulchi — Yea
Tara A. Durant — Yea
Timmy French — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

VOTE: Block Vote Passage (98-Y 0-N)

Passed 97 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 97002
Total 97002
% of votes cast 98%0%0%2%
How each member voted (99)
Member Party Vote
Adele Y. McClure — Yea
Alex Q. Askew — Yea
Alfonso H. Lopez — Yea
Amy J. Laufer — Yea
Anne Ferrell Tata — Yea
Arnold, Jonathan, E. P. — Yea
Atoosa R. Reaser — Yea
Batten, Amanda E. — Yea
Betsy B. Carr — Yea
Bill Wiley — Yea
Bonita G. Anthony — Yea
Briana D. Sewell — Yea
Bulova, David L. — Yea
C.E. Cliff Hayes, Jr. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Yea
Convirs-Fowler, Kelly K. — Yea
Cordoza, A.C. — Yea
Coyner, Carrie E. — Yea
Dan I. Helmer — Yea
David A. Reid — Yea
Debra D. Gardner — Yea
Delores L. McQuinn — Yea
Delores Oates — Yea
Earley, Mark L., Jr. — Yea
Elizabeth B. Bennett-Parker — Yea
Ellen H. McLaughlin — Yea
Ennis, N. Baxter — Yea
Eric Phillips — Yea
Eric R. Zehr — Yea
Fowler, Hyland F."Buddy," Jr. — Yea
Freitas, Nicholas J. — Yea
Gilbert, C. Todd — Yea
Green, W. Chad — Yea
H. Otto Wachsmann, Jr. — Yea
Higgins, Geary — Yea
Holly M. Seibold — Yea
Irene Shin — Yea
Israel D. O'Quinn — Yea
Jackie H. Glass — Yea
James A. "Jay" Leftwich — Not Voting
James W. Morefield — Yea
Jason S. Ballard — Yea
Jeion A. Ward — Yea
Joseph P. McNamara — Yea
Joshua E. Thomas — Yea
Joshua G. Cole — Yea
Kannan Srinivasan — Yea
Karen Keys-Gamarra — Yea
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Katrina Callsen — Yea
Kent, Hillary Pugh — Yea
Knight, Barry D. — Yea
Laura Jane Cohen — Yea
LeVere Bolling, Destiny — Yea
Lovejoy, Ian T. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Yea
Maldonado, Michelle Lopes — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Yea
Marty Martinez — Yea
Michael B. Feggans — Yea
Michael J. Jones — Yea
Michael J. Webert — Yea
Mike A. Cherry — Yea
Milde, Paul V. — Yea
Mundon King, Candi — Yea
Nadarius E. Clark — Yea
Obenshain, Chris — Yea
Orrock, Robert D., Sr. — Yea
Owen, David — Yea
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Phil M. Hernandez — Yea
Phillip A. Scott — Yea
R. Lee Ware — Yea
Rae Cousins — Yea
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Yea
Rodney T. Willett — Yea
Rozia A. Henson, Jr. — Yea
Sam Rasoul — Yea
Scott A. Wyatt — Yea
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Taylor, Kim A. — Yea
Terry G. Kilgore — Yea
Terry L. Austin — Yea
Thomas A. Garrett, Jr. — Yea
Thomas C. Wright, Jr. — Not Voting
Timothy P. Griffin — Yea
Tony O. Wilt — Yea
Vivian E. Watts — Yea
Wendell S. Walker — Yea
Will Davis — Yea
Wren M. Williams — Yea

Official roll call →

Reported from General Laws with substitute (22-Y 0-N)

Passed 22 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 22000
Total 22000
% of votes cast 100%0%0%0%
How each member voted (22)
Member Party Vote
Adele Y. McClure — Yea
Arnold, Jonathan, E. P. — Yea
Betsy B. Carr — Yea
Bill Wiley — Yea
Bulova, David L. — Yea
Coyner, Carrie E. — Yea
Elizabeth B. Bennett-Parker — Yea
Ellen H. McLaughlin — Yea
Fowler, Hyland F."Buddy," Jr. — Yea
Holly M. Seibold — Yea
James A. "Jay" Leftwich — Yea
James W. Morefield — Yea
Joshua E. Thomas — Yea
Joshua G. Cole — Yea
Karrie K. Delaney — Yea
Knight, Barry D. — Yea
Luke E. Torian — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Paul E. Krizek — Yea
Robert S. Bloxom, Jr. — Yea
Terry L. Austin — Yea

Official roll call →

Read third time and passed Senate (39-Y 0-N)

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 39001
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Aaron R. Rouse — Yea
Angelia Williams Graves — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Glen H. Sturtevant, Jr. — Yea
Hashmi, Ghazala F. — Yea
J.D. "Danny" Diggs — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
McGuire, John J., III — Not Voting
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Surovell — Yea
Stella G. Pekarsky — Yea
Subramanyam, Suhas — Yea
T. Travis Hackworth — Yea
Tammy Brankley Mulchi — Yea
Tara A. Durant — Yea
Timmy French — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Constitutional reading dispensed (38-Y 0-N)

Passed 38 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 38002
Total 38002
% of votes cast 95%0%0%5%
How each member voted (40)
Member Party Vote
Aaron R. Rouse — Yea
Angelia Williams Graves — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
David R. Suetterlein — Yea
David W. Marsden — Not Voting
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Glen H. Sturtevant, Jr. — Yea
Hashmi, Ghazala F. — Yea
J.D. "Danny" Diggs — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Not Voting
L. Louise Lucas — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
McGuire, John J., III — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Surovell — Yea
Stella G. Pekarsky — Yea
Subramanyam, Suhas — Yea
T. Travis Hackworth — Yea
Tammy Brankley Mulchi — Yea
Tara A. Durant — Yea
Timmy French — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Reported from General Laws and Technology with substitute (15-Y 0-N)

Passed 15 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 15000
Total 15000
% of votes cast 100%0%0%0%
How each member voted (15)
Member Party Vote
Aaron R. Rouse — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Jeremy S. McPike — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Schuyler T. VanValkenburg — Yea
Subramanyam, Suhas — Yea
Timmy French — Yea
Todd E. Pillion — Yea

Official roll call →

Subjects

housing
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Frequently asked questions

What does SB 437 do?
Department of Professional and Occupational Regulation; real estate brokers; places of business. Defines "place of business" for real estate brokers. The bill requires every principal broker to have readily available to the public in his primary place of business the firm license, principal broker license, and the license of every salesperson and broker active with the firm and requires each branch office, defined in the bill, to have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office. Finally, the bill requires any nonresident real estate broker residing in a state that mandates resident real estate brokers of the Commonwealth to maintain a place of business in such mandating state to maintain a place of business in the Commonwealth. This bill is identical to HB 1237.
Who sponsors SB 437?
SB 437 is sponsored by David R. Suetterlein.
What is the current status of SB 437?
This bill has been enacted into law. Introduced January 09, 2024. Enacted.
Where can I track SB 437?
Track SB 437 free on One Click Politics — get push/email alerts when it moves.

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