18VAC135-20-55: Exchange to salesperson license

A broker seeking to exchange the broker license for that of a salesperson must submit a complete application to the board with the appropriate fee specified in 18VAC135-20-15. When exchanging a license, the licensee agrees any current broker licenses cease to exist, and if the licensee chooses to become licensed as a broker again, the licensee must pass the current broker examination and must meet the current education and experience requirements in effect at the time of application.