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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An applicant for a broker’s license shall:
(1) Submit evidence satisfactory to the commission of either: (i) Real estate experience as a licensed real estate salesperson during the two years prior to the date of application showing the applicant’s representation of a buyer or seller in a minimum of 10 closed transactions; if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 10 closed transactions of at least one year in duration; or if the applicant is engaged solely in the management of a real estate brokerage company, active involvement in a minimum of 20 closed transactions; or (ii) regardless of the number of years as a licensed salesperson: a minimum of 20 closed transactions; if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 20 closed transactions of at least one year duration; or if the applicant is engaged solely in the management of a real estate brokerage company, active involvement in a minimum of 30 closed transactions. For the purposes of this section, a “closed transaction” means a transaction that resulted in the real estate being conveyed from seller to buyer in which the applicant represented the seller, buyer, or both, or a transaction that resulted in the consummation of a lease of no less than one year in duration in which the applicant represented either the landlord or tenant of the real estate;
(2) Submit satisfactory evidence of having completed the required education course as provided for in § 30-40-14 of this code; and
(3) Successfully pass the examination or examinations provided by the commission.
(b) No broker’s license shall be issued in the name of an entity except through one of its members or officers.
(c) No broker’s license may be issued in the name of an entity unless each member or officer who will engage in the real estate business, obtains a license as a real estate salesperson or associate broker.
Cite this article: FindLaw.com - West Virginia Code Chapter 30. Professions and Occupations § 30-40-12. Qualifications for broker’s license - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-30-professions-and-occupations/wv-code-sect-30-40-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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