A broker who wants to exchange his license(s) for that of a salesperson must submit a complete application with appropriate fee. When exchanging the license(s), the licensee agrees his current broker's license(s) ceases to exist, and if he chooses to become licensed as a broker again, he must pass the current broker examination and must meet the current education and experience requirements in effect at the time of application.
18 Va. Admin. Code § 135-20-55
Statutory Authority: §§ 54.1-201 and 54.1-2105 of the Code of Virginia.