Broker Policy Description

The VREB requires that supervising brokers make available training and written procedures and policies that provide clear guidance on critical topics licensees must know. In addition, a well-crafted office policy manual also contributes toward the firm’s mandatory audit requirement. To help on both these fronts, we have created an Office Policy and Procedures Manual Template. This detailed MS Word document allows you to fill in your firm-specific information (e.g. firm name, office hours, policies on designated and dual agency, insurance requirements, and more) and easily tailor it to fit your firm’s business model.

 

Residential Broker Policy

Residential Broker Office Policy Manual

 

Q & A

Can my firm simply adopt Virginia REALTORS®’ office policy manual template in whole?

Almost. The supervising broker must review the manual and modify it to fit the firm’s unique practice; it’s not a one-size-fits-all document. Information such as policies on holidays, smoking, EMDs, agency relationships, document retention, and more must be customized.

The manual is available in Microsoft Word format, so it’s easy to edit before you put it to use. In some cases, the manual has check boxes that allow brokers to select options quickly and easily.

Are there other office policy manuals available or do I have to use Virginia REALTORS®’ manual?

There is no requirement to use Virginia REALTORS®’ manual. Several local associations, including the Richmond and Northern Virginia Association of REALTORS®, have excellent manuals available for their members. Also, a firm may choose to draft its own manual or engage a third party.

Will the manual be updated? How will that be communicated?

Every year, volunteers and staff will review Virginia REALTORS®’ manual and communicate suggested amendments based on changes in law or practice. The firm will have the option of adopting these amendments.

If I have suggestions on how to improve the manual, where should I send my comments?

Send any suggestions to the Legal Department at legal@virginiarealtors.org.