Understand New Rules for Carryover Credits and Flood Hazard Education 

CARRYOVER CREDITS FOR LICENSEES
Beginning Nov. 1, 2015, licensees are permitted to carry over excess continuing education credits from one license term into the next. The credit carryover applies only to credits that are earned in the six months immediately prior to the licensee’s license expiration date. The credits are limited to salesperson and broker continuing education credits (not post licensing). Both mandated and elective course credits may be carried over.

The regulation applies to salesperson and broker licenses that expire on or after Nov. 1, 2015, which means that it will first apply to licenses that expire on Nov. 30, 2015.
For example, the carryover period for any surplus CE completed by a salesperson or broker with an expiration date of Nov. 30, 2015 will be the six-month period of June 1, 2015 through Nov. 30, 2015. The surplus CE earned during that six-month period will carry over into the Dec. 1, 2015 through Nov. 30, 2017 license term. 
 
The DPOR database will likely not be ready to display the surplus CE credits carried over for individual licensees by Nov. 1, 2015. Licensees should contact DPOR staff directly with specific questions at (804) 367-8526 or REBoard@dpor.virginia.gov

FLOOD HAZARD EDUCATION REQUIREMENTS
Beginning Jan. 1, 2016, post licensing and continuing education curricula for salespersons and brokers must include information about flood hazard areas and the National Flood Insurance Program. Licensees are not required to take a stand-alone course on these topics. Flood instruction content will be included in VREB-approved post licensing Real Estate Law courses and continuing education courses covering Legal Updates.

All brokers and salespersons who renew their license after Dec. 31, 2015 must have completed a VREB-approved course that includes flood instruction. Some courses will contain VREB-approved flood instruction content as early as Oct. 1, 2015. Licensees taking PL Real Estate Law or CE Legal Updates courses between Oct. 1, 2015 and Dec. 31, 2015 should check with their education provider to determine if the course includes flood instruction. If a license is renewed after Dec. 31, 2015 and the licensee already completed a Legal Updates course that did not include flood instruction, the credit will count toward elective credit and the licensee will be required to take a course with flood instruction. All courses taught at NVAR as of Nov. 1, 2015 contain VREB-approved flood instruction. For more information, email education@nvar.com.