Licenses

V.S.A. tit. 26, ch. 41, subch. 3

in effect

26 V.S.A. § 2291 General provisions

2291. General provisions (a) A real estate license shall not be authority for more than one person to perform the activities listed in section 2211 of this chapter. (b) A registered brokerage firm shall designate in its application the individual who is to serve as the principal broker under the brokerage firm registration. (c) Every applicant for licensure shall have attained the age of majority. Amended 1969, No. 283 (Adj. Sess.), § 5; 1971, No. 184 (Adj. Sess.), § 23, eff. March 29, 1972; 1985, No. 6, § 1; 2013, No. 138 (Adj. Sess.), § 16.

26 V.S.A. § 2292 Eligibility

2292. Eligibility (a) A license as a real estate broker shall be granted to a person who satisfies all of the following: (1) has passed an examination as required by the Commission; (2) has gained at least two years’ experience satisfactory to the Commission as a licensed salesperson, including at least eight separate and unrelated closed transactions; (3) has completed a course of instruction of at least 40 hours, approved by the Commission. (b) A license as a real estate salesperson shall be granted to a person who satisfies all of the following: (1) has passed an examination as required by the Commission; (2) is at least 18 years of age; (3) has been employed by or become associated with a brokerage firm and that firm’s principal broker; and (4) has completed a course of instruction, approved by the Commission, of at least 40 hours. (c) The Commission may waive all or a part of the examination requirement if the applicant is a real estate broker or salesperson regulated under the laws of another jurisdiction, who is in good standing to practice in that jurisdiction and, in the opinion of the Commission, the jurisdiction’s examination is substantially equal to that required by this chapter. Amended 1963, No. 66, § 2; 1969, No. 283 (Adj. Sess.), § 6; 1979, No. 81, § 2, eff. May 10, 1979; 1985, No. 6, § 1; 1997, No. 40, § 28; 2001, No. 151 (Adj. Sess.), § 21, eff. June 27, 2002; 2005, No. 27, § 67; 2017, No. 48, § 14; 2019, No. 30, § 16.

26 V.S.A. § 2292a Examinations

2292a. Examinations (a) The Commission shall select and administer examinations for licensure. The Commission may use independent testing services or others to assist in the administration of written examinations. (b) Examinations and examination procedures shall be fair and reasonable and shall be designed to ensure that all applicants are licensed if they demonstrate that they possess the minimal occupational qualifications that are consistent with the public health, safety, and welfare. They shall not be designed or implemented for the purpose of limiting the number of licensees. Added 1997, No. 40, § 29.

26 V.S.A. § 2293 Renewal of license; expired license

2293. Renewal of license; expired license Licenses shall be renewed every two years without examination and on payment of the required fees, provided that the person applying for renewal completes at least 24 hours of instruction for brokers and 16 hours of instruction for salespersons, approved by the Commission, during the preceding two-year period. Four hours of this continuing education instruction shall address legislation and other topics specified by the Commission for each renewal period. Amended 1969, No. 283 (Adj. Sess.), § 7; 1985, No. 6, § 1; 1989, No. 250 (Adj. Sess.), § 4(d); 1997, No. 145 (Adj. Sess.), § 29a; 2005, No. 27, § 68; 2005, No. 148 (Adj. Sess.), § 20; 2005, No. 148 (Adj. Sess.), § 53, eff. Jan. 1, 2007; 2013, No. 138 (Adj. Sess.), § 17; 2017, No. 48, § 15; 2019, No. 30, § 16.

26 V.S.A. § 2294 Change of name or location

2294. Change of name or location (a) Whenever a licensed broker desires to be licensed under a different name, the broker shall pay the fee established under section 2255 of this chapter. Notice of any change in the names and addresses of the licensees shall be given to the Commission within 30 days after the change becomes effective. (b) Each licensee shall notify the Commission in writing of any change of the licensee’s principal business location, and the Commission shall issue a new license with the new address for the fee established under section 2255 of this chapter. (c) If a brokerage firm maintains more than one place of business within the State, a branch office registration is required for each branch office so maintained. Branch offices shall use the same registered brokerage firm name as the main office and shall designate a licensed broker in charge for each branch office. Added 1969, No. 283 (Adj. Sess.), § 14; amended 1985, No. 6, § 1; 2013, No. 138 (Adj. Sess.), § 18.

26 V.S.A. § 2295 Display of license

2295. Display of license All licenses shall be conspicuously displayed within licensee’s place of business. Amended 1979, No. 81, § 3, eff. May 10, 1979; 1985, No. 6, § 1.

26 V.S.A. § 2296 Unprofessional conduct

2296. Unprofessional conduct In addition to the conduct set forth in 3 V.S.A. § 129a, the following conduct by those regulated under this chapter constitutes unprofessional conduct: (1) commingling money or other property to which the licensee’s clients or other persons are entitled with the licensee’s own, except to the extent nominal sums of the licensee’s funds may be required to maintain an open trust account; (2) failing to inform clients, establish trust and escrow accounts, maintain records, and otherwise act in accordance with the provisions of section 2214 of this chapter with respect to all monies received by the licensee as a real estate broker, or as escrow agent, or as the temporary custodian of the funds of others, in a real estate transaction; (3) failing promptly to segregate any properties received that are to be held for the benefit of others; (4) failing to fully disclose to a buyer all material facts within the licensee’s knowledge concerning the property being sold; (5) failing to fully disclose to a buyer the existence of an agency relationship between the licensee and the seller. Amended 1963, No. 66, §§ 3, 4; 1969, No. 283 (Adj. Sess.), § 8; 1979, No. 81, § 4, eff. May 10, 1979; 1985, No. 6, § 1; 1991, No. 86, § 6, eff. Jan. 1, 1992; 1997, No. 145 (Adj. Sess.), § 45; 2013, No. 27, § 29; 2017, No. 48, § 16; 2019, No. 30, § 16.

26 V.S.A. § 2297 Nonresident broker

2297. Nonresident broker A nonresident of the State, who has held a real estate broker’s or salesperson’s license in the previous state of residence for a period of two years prior to applying for a license, may be licensed to act in a similar capacity in this State by conforming to the provisions of this chapter regarding application for and securing of license, except that the application shall be accompanied by a statement from the regulatory body of the other state concerning whether the applicant has been the subject of any criminal or disciplinary investigation or action. Amended 1969, No. 283 (Adj. Sess.), § 9; 1985, No. 6, § 1.

26 V.S.A. § 2299 Death of broker; temporary license

2299. Death of broker; temporary license In the event of the death of a licensed real estate broker, the Commission may, upon application by the broker’s legal representative, issue without examination a temporary license to such legal representative or to an individual designated by the representative or the broker and approved by the Commission on payment of the prescribed fee established under section 2255 of this chapter. Such temporary licensee may continue to transact said real estate business for a period not to exceed one year. A temporary licensee shall not enter into new brokerage service agreements. Added 1969, No. 283 (Adj. Sess.), § 15; amended 1985, No. 6, § 1; 2013, No. 138 (Adj. Sess.), § 19.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/26/041Fetched: 10/21/2026