VREB Update: Accepting Compensation

At a recent Real Estate Board meeting, the VREB expressed concerns about agents accepting compensation from someone other than their broker.

Remember that the Real Estate Board regulations state that it is an improper brokerage commission to accept a commission, fee, or other valuable consideration, as a real estate salesperson or associate broker, for any real estate services from any person or entity except the licensee’s principal broker or supervising broker.

If you have any questions about who you can receive compensation from or what activities are covered, make sure to talk to your broker for guidance.

Laura M. Farley, Vice President of Legal Operations / Deputy General Counsel

 

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