Virginia Real Estate Salesperson Practice Exam 2025 – Complete Prep Guide

The Virginia Real Estate Board is established to oversee the practice of real estate within the state, ensuring that the industry operates fairly and legally. One of its primary functions is to grant real estate licenses, which allows individuals to practice as real estate agents and brokers. Additionally, the Board enforces various real estate regulations aimed at maintaining ethical standards and compliance with the law.

The Board also plays a role in inspecting real estate offices to ensure they adhere to regulatory requirements and standards of operation. This oversight is vital for instilling public confidence in the real estate profession.

Regulating real estate prices, on the other hand, is not a function of the Virginia Real Estate Board. Price regulation is typically left to the free market, and the Board does not interfere in how properties are priced or negotiated. The real estate market in Virginia—and most places—is driven by supply and demand, making the regulation of prices outside the scope of the Board's responsibilities. Therefore, the assertion that regulating real estate prices is a function of the Virginia Real Estate Board is incorrect, as it does not engage in market intervention in that manner.