PSI Virginia Real Estate Practice Exam

What is required of brokers regarding the visibility of their active licenses?

1. They must keep them in a safe

2. They must display them publicly at the main office

3. They must send them to the Board

4. They must provide copies to their agents

The correct answer is: They must display them publicly at the main office

Brokers are required to display their active licenses publicly at their main office as a way to comply with regulatory standards and promote transparency within the real estate industry. This requirement ensures that clients and the general public can easily verify a broker's legal ability to conduct real estate transactions, fostering trust and confidence in the services offered. Public display of licenses also serves an educational purpose, informing clients of whom they are working with and ensuring that they are dealing with a licensed professional. While there might be considerations for safety and privacy regarding documents, the primary focus of this requirement is to maintain visibility and accountability. Keeping licenses in a safe or sending them to the Board does not fulfill the intention of making broker credentials accessible to the public. Additionally, providing copies to agents, while perhaps a good practice for internal record-keeping, does not meet the legal requirement for public display.