Vermont Statutes Title 26 Sec. 2292
Terms Used In Vermont Statutes Title 26 Sec. 2292
- broker: means any person who, for another, for a fee, commission, salary, or other consideration, or with the intention or expectation of receiving or collecting such compensation from another, engages in or offers or attempts to engage in, either directly or indirectly, by a continuing course of conduct, any of the following acts:
- Commission: means the Vermont Real Estate Commission. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: means and includes individuals, corporations, partnerships, trusts, associations, cooperatives, or other firms or entities, foreign or domestic. See
- real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
- salesperson: means any person who for a fee, compensation, salary, or other consideration, or in the expectation or upon the promise thereof, is employed by or associated with a licensed real estate broker to do any act or deal in any transaction as provided in subdivision (4) of this subsection for or on behalf of a licensed real estate broker. See
§ 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.)