My notes for West Virginia state portion

My notes while studying for the WV Real estate license 

 Law book from West Virginia Real estate commission can be found here . 

The information provided in these notes is not intended to be legal advice, but merely conveys general information related to real estate laws and regulations in West Virginia. These notes are not comprehensive and may not reflect the most current legal developments. The notes should not be relied upon as a substitute for legal advice from a licensed attorney in West Virginia. Laws and regulations are subject to change, so readers should not act or refrain from acting based on this information without seeking professional counsel. The author of these notes makes no representations or warranties with respect to the accuracy or completeness of the contents and specifically disclaims any implied warranties of merchantability or fitness for a particular purpose.

These notes are not intended for educational but only for informational purposes only. The West Virginia Real Estate Commission is the authoritative source for current laws, rules, and regulations governing real estate practice in the state. These are my notes from the book ‘WEST VIRGINIA REAL ESTATE LICENSE ACT AND LEGISLATIVE RULES’. They are not comprehensive and made for myself to remember some of the important things 

Acts and commission names - 

• The West Virginia Real Estate Commission 
• The West Virginia Fair Housing Act
• The West Virgins Real Estate License act

The commission has the legal authority to issue sanctions. 

WV RE Commission 

• Total of 5 members with a 4 year term and 6 years resident in WV
• 4/5 people -  RE License holders with Minimum 10 year as primary vocation 
• 1/5 people - A WV Citizen
• Not more than 4 of the same political party 

 

Agency Relationships in West Virginia

• Dual agents is allowed with prior written consent from all parties involved
• The Notice of Agency Relationship form must be provided to potential buyers and sellers, describing the licensee's representation and outlining duties. Need to take acknowledgement of the notice 

 

Licensing Requirements and Exemptions

• A real estate license is required for activities such as listing, buying, selling, leasing, renting, managing, optioning, or auctioning real estate for compensation.
• Exemptions include property owners acting on their own behalf, attorneys, court-appointed individuals and people acting on power of attorneys. Exemptions also include - anyone working exclusively as the manager/rental agent for the real estate of a single person, partnership, or corporation

 

Licensee Duties, renewals and Transfers

• Licenses expire on June 30, with the license year running from July 1 to June 30 for everyone, including new licensees, even if you got a license mid year it expires on June 30th. 
• Procedures must be followed when a licensee transfers to a new broker
  • Salesperson/ Associate Broker gives written Notice to current Broker
  • Current Broker sends your license back to WV commission and provides a sworn statement that the licensee provided a written termination notice.
  • New Broker provides sworn statement confirming the transfer 

 

The license and renewal fees are:

• Broker/associate broker / Branch office: $150
• Salesperson: $75

 

Late renewal penalty 

• $50  July 1 - September 30  
• $75 September 30  - Dec 31st
• $100 1st Jan - 15th June 

 

Other Fees :

• Change of employing broker fee: $20
• Change of office address fee: $20
• Certification of licensure fee: $20

-----

• Change of licensee name fee: $10
• Change of company name fee: $10 for each license changed
• Duplicate license fee: $10

 

Timelines 

Applicants have three months from the date of approval to take the examination, with a maximum of two attempts. The exam provider is Pearson Vue. 

 

Scope of Practice

 

The practice of real estate brokerage in West Virginia includes activities performed by brokers, associate brokers, and salespersons. These activities involve listing, buying, selling, leasing, renting, managing, and auctioning real estate, as well as procuring prospects and negotiating real estate transactions. Certain professionals, such as appraisers, lawyers, and home inspectors, are exempt from these requirements when performing ancillary services.

Continuing Professional Education (CPE)

• Licensees must complete 7 hours of approved CPE annually.
• Inactive licensees are exempt but must complete required CPE before returning to active status
• Non-resident licensees must comply with CPE requirements, but credits from comparable jurisdictions may be accepted
• Brokers are responsible for ensuring their licensees comply with CPE requirements
• If a licensee took a specific CE course to satisfy the previous year’s CE requirement, the licensee may not retake the same course to satisfy the licensee’s current CE requirement.

 

Complaints and Investigations

• Complaints can be initiated by the commission, licensees, or the public within two years of the alleged violation
• When a complaint is initiated, the commission provides a copy to the licensee for a response. The accused has 20 days to provide a response, unless the commission provides an extension. Failure to provide a timely response may be considered an admission that the allegations are true
• When the investigation is complete, the commission may close the case if no probable cause of a violation exists. If there is probable cause, the next step may be either a contested case hearing or disposition through a consent agreement.
• If determined that there is a probable cause The commission determines the date and time for the formal contested hearing, which must take place no sooner than 30 days after a notice of hearing is provided.
• Hearings may be conducted by the commission or an administrative law judge.
• Licensee to pay for the hearing costs if found guilty along with other implications. 

 

Penalties for violations 

Personal 

• 1st Violation - $1,000 and no more than $2,000 or/and up to 90 days of Jail 
• 2nd Violation - $2,000 and no more than $5,000 or/and up to 1 year of Jail

 

Corporation, association, or partnership

• 1st Violation - $2,000 and no more than $5,000 
• 2nd Violation - $5,000 and no more than $10,000
• Plus individual penalties for members involved.  

For all violations 

• Each day of violation is considered a separate offense.
• The commission can seek injunctions against violators when the commission or other interested person believes that any person has engaged, is engaging, or is about to engage in any act that constitutes a violation of the West Virginia Real Estate License Act
• Community service is not an option for penalties under WV Real estate law

Advertising Responsibilities

1. Licensee's name ( Title - Sales person) 
2. Brokerage company's name, 
3. Responsible broker's name with "broker' listed next to it
4. Brokerage's address
5. Brokerage's phone number

 

Licensee Responsibilities for information to WVREC 

• Licensees must report disciplinary actions in other licensing jurisdictions to WVREC 
• They must also notify the commission of civil suits and criminal proceedings (except misdemeanor traffic violations)

 

Fair Housing

• Although federal fair housing law allows an exemption for familial status related to housing for older persons, West Virginia fair housing law doesn’t recognize this exemption, so this would be a violation of West Virginia fair housing law.

• • West Virginia's Fair Housing Act includes federal protections plus ancestry and blindness as protected classes
  • New multi-family housing must include specific accessibility features 
    • Access to public/common use areas for disabled persons
    • Sufficiently wide doors to accommodate a wheelchair
    • Adaptive design features, such as accessible entry routes, light switches, electrical outlets, and thermostats
    • Reinforced bathroom walls to allow the installation of grab bars
    • Kitchens and bathrooms that are wheelchair accessible
  • Service animals must be allowed, irrespective of pet policy. It's not discriminatory to require that a person with disabilities follow reasonable animal-related restrictions. These include obeying leash laws, taking responsibility for animal damage, having the property professionally cleaned, picking up animal waste, fulfilling licensing and vaccination requirements, and keeping the animal under control in common areas (leashed, or under effective voice/signal control if allowed).
  • Enforcement of Fair housing Violations can result in penalties for offenses as per Administrative law judge orders
    • 10,000 for first, 20,000 for second, and 50,000 for next, span of violations term is up to seven consecutive years

• Exemptions

• • Rooms rented in a property occupied by the owner and containing no more than four rooms to be rented are exempt from fair housing laws in West Virginia.
  • West Virginia fair housing laws provide the following exemptions based on familial status (which refers to families with children under the age of 18, pregnant persons, or a person in the process of securing legal custody of a minor child, including adoptive or foster parents), on the sale or rental of a single-family home (one exemption allowed per owner in a 24-month period) if:
    • The single-family home is sold or rented without a real estate licensee's assistance.
    • No discriminatory advertising is used.
    • The owner doesn't own or have a financial interest in more than three single-family houses at the same time.

 

Trust Funds, broker records and Accounts

Real estate professionals in West Virginia must handle trust funds carefully. These funds, which include earnest money, security deposits, and rental receipts, must be:

• Turned over to the ‘responsible broker’ immediately
• Deposited into a designated trust account within one business day
• Kept separate from personal or other brokerage funds
• ‘Responsible broker; can deposit up to $100 in the non trust account as non trust funds 
• Brokers must maintain accurate records of all trust account transactions for at least five years and allow the commission to inspect these records 
• Trust accounts must be with FDIC-insured institutions that allow immediate withdrawal of funds
• Brokers have to notify the commission within 10 days of any change to trust account