The Code of Virginia requires a license.
Here is what I found when I started doing my research.
Code of Virginia § 54.1-2105.2. Cease and desist orders for unlicensed activity; civil penalty.
- A. Notwithstanding any other provision of law, the Board may issue an order requiring any person to cease and desist from acting as a real estate broker or salesperson when such person is not licensed by the Board in accordance with this chapter. The order shall be effective upon its entry and shall become final unless such person files an appeal with the Board in accordance with the Administrative Process Act (§ 2.2-4000 et seq.) within 21 days of the date of entry of the order.
- B. If the person fails to cease and desist the unlicensed activity after entry of an order in accordance with subsection A, the Board may refer the matter for enforcement pursuant to § 54.1-306.
- C. Any person engaging in unlicensed activity shall be subject to further proceedings before the Board and the Board may impose a civil penalty not to exceed $1,000 for any real estate transaction or the compensation received from any such real estate transaction, whichever is greater. Any penalties collected under this section shall be paid to the Literary Fund after deduction of the administrative costs of the Board in furtherance of this section.
But there are also exemptions, and and here is the other part….
§54.1-2103 Exemptions
a.The provision of this chapter shall not apply to:
- 1.Any person, partnership, association or corporation, on their regular employees, who as owner or lesser perform any of the acts enumerated in §54.1-2101 with reference to property owned leased by them, where the acts are performed in the regular course of or the management of a property and its investment therein;
- 2.Any person acting without compensation as attorney-in-fact under a power of attorney issued by a property owner solely for the purpose of authorizing the final performance required of such owner under a contract for the sale lease purchase, or exchange of real estate;
- 3.Services rendered by an attorney-at law in the performance of his duties as such;
- 4.A person acting as a receiver, trustee in bankruptcy, administrator or executor, any person selling real estate under order of the court;
- 5.A trustee under a trust agreement, deed of trust, or will, or the regular salaried employee thereof;
So if you are not interested in getting licensed, and don’t want to manage more than 1 or 2 properties for friends, then I would say have your friend give you a power of attorney to manage the property for him.
If you want to be licensed (which might be a good thing for you as an investor, or want to make money managing rental property) you need to pursue taking the Principals of Real Estate Course work, and apply for a sales Licenses.