A person who is the designated individual to assure compliance with the Virginia Real Estate Laws and Regulations, and is also responsible for the activities of the entire firm is known as the ______.
A principal broker is also the managing broker. An individual with this position is one who has the legal requirements or capacity to go into agency contracts with consumers. He is also legally responsible for the activities of the entire firm. He is higher than the broker in rank as he supervised the broker. He has a greater license than the broker when it comes to real estate.
