If you’re a realtor or planning to become one in Vermont, then you must know about the Vermont Real Estate Commission. The Vermont Real Estate Commission is a regulatory body that oversees real estate activities in the state. It is responsible for ensuring that real estate professionals and their activities comply with state laws and regulations.In this blog post, we’ll provide you with everything you need to know about the Vermont Real Estate Commission, including its functions, responsibilities, licensing requirements, and more.
What is the Vermont Real Estate Commission?
The Vermont Real Estate Commission is a regulatory agency that was established in 1933. Its primary goal is to protect consumers by ensuring that real estate professionals follow state laws and regulations. The commission is responsible for licensing and regulating real estate brokers, salespeople, and appraisal professionals.The Vermont Real Estate Commission operates under the Vermont Secretary of State’s Office and is made up of five members who are appointed by the governor. Four members of the commission must be licensed real estate brokers or salespeople, while one member must be a member of the public.
Functions of the Vermont Real Estate Commission
The Vermont Real Estate Commission has several functions, including:
Licensing
The commission is responsible for licensing real estate brokers, salespeople, and appraisal professionals. It ensures that these professionals meet the state’s education and experience requirements before granting them licenses to practice.
Regulation
The commission regulates the activities of licensed real estate professionals to ensure that they follow state laws and regulations. It has the power to investigate complaints against real estate professionals and take disciplinary action against those who violate state laws.
Consumer Protection
The commission’s primary function is to protect consumers. It does this by ensuring that real estate professionals act in the best interest of their clients and follow ethical and professional standards.
Licensing Requirements for Real Estate Professionals in Vermont
If you want to become a licensed real estate professional in Vermont, you must meet certain education and experience requirements. Here are the requirements for each profession:
Real Estate Broker
To become a licensed real estate broker in Vermont, you must:
- Be at least 18 years old
- Have a high school diploma or equivalent
- Complete 40 hours of pre-licensing education
- Have at least two years of experience as a licensed real estate salesperson or equivalent experience
- Pass the Vermont Real Estate Brokers Exam
- Complete a background check
Real Estate Salesperson
To become a licensed real estate salesperson in Vermont, you must:
- Be at least 18 years old
- Have a high school diploma or equivalent
- Complete 40 hours of pre-licensing education
- Pass the Vermont Real Estate Salesperson Exam
- Complete a background check
Real Estate Appraiser
To become a licensed real estate appraiser in Vermont, you must:
- Be at least 18 years old
- Complete the required education and experience requirements for your desired license level (Trainee, Licensed, or Certified)
- Pass the Vermont Real Estate Appraiser Exam
- Complete a background check
Vermont Real Estate Commission Fees
If you’re applying for a real estate license in Vermont, you’ll need to pay certain fees to the Vermont Real Estate Commission. Here are the fees for each profession:
Real Estate Broker
- Application fee: $230
- License fee: $230
- Reinstatement fee: $230
Real Estate Salesperson
- Application fee: $230
- License fee: $230
- Reinstatement fee: $230
Real Estate Appraiser
- Application fee: $175
- License fee: $175
- Reinstatement fee: $175
Renewing Your Vermont Real Estate License
Real estate licenses in Vermont must be renewed every two years. To renew your license, you must complete the required continuing education and pay the renewal fee. Here are the continuing education requirements for each profession:
Real Estate Broker
Real estate brokers in Vermont must complete 24 hours of continuing education every two years. The continuing education must include:
- 4 hours of mandatory courses:
- Agency Law
- Fair Housing
- Real Estate Contracts
- Real Estate Professionalism and Ethics
- 20 hours of elective courses
Real Estate Salesperson
Real estate salespeople in Vermont must complete 16 hours of continuing education every two years. The continuing education must include:
- 4 hours of mandatory courses:
- Agency Law
- Fair Housing
- Real Estate Contracts
- Real Estate Professionalism and Ethics
- 12 hours of elective courses
Real Estate Appraiser
Real estate appraisers in Vermont must complete the required continuing education for their license level every two years.
The Vermont Real Estate Commission and Disciplinary Action
The Vermont Real Estate Commission has the power to investigate complaints against licensed real estate professionals and take disciplinary action against those who violate state laws and regulations. Disciplinary actions can include fines, license suspension, or revocation.If you have a complaint against a licensed real estate professional in Vermont, you can file a complaint with the Vermont Real Estate Commission. The commission investigates all complaints and takes appropriate action if necessary.
Conclusion
The Vermont Real Estate Commission plays an important role in regulating and licensing real estate professionals in Vermont. Its primary goal is to protect consumers by ensuring that real estate professionals follow state laws and regulations.If you’re planning to become a real estate professional in Vermont, make sure you meet the education and experience requirements and pass the required exams. Also, make sure you complete the required continuing education to renew your license every two years.
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Learn about the Vermont Real Estate Commission, its functions, responsibilities, licensing requirements, fees, and more. Find out how to become a licensed real estate professional in Vermont and how to renew your license.
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Vermont Real Estate Commission, real estate professionals, licensing requirements, fees, continuing education, disciplinary action, complaints.