Every hopeful Virginia real estate salesperson needs a supervising broker listed on their application to receive an active license and start making money. But, what is a supervising broker and what do they do?
Among other things, a supervising broker is responsible for:
- Mentoring the salespersons they sponsor
- Holding the license of the salespersons and associate brokers they sponsor.
- Collecting commissions on transactions and making payouts to salespersons.
- Providing office space.
- Providing documents, supplies, etc.
Brokers are held to a high standard because they’re seen as experienced professionals who understand the real estate industry. They have to be careful to supervise their salespersons’ activity since they’ll get in just as much hot water if a salesperson violates the state rules and regulations.
