How to start a real estate business in Virginia (2026)
Everything a new real estate business in Virginia needs in the first months: registration, licenses, taxes, insurance and the yearly deadlines, with official links.
1. Register your business
Most owners form an LLC with the Virginia State Corporation Commission. Once it's registered, find it here to claim a free website and see your exact dates.
2. Licenses
Virginia requires a license to work as a real estate agent or broker, and in most states the brokerage company itself must be licensed too. New agents work under a licensed broker.
Your city or county may also require a general business license or tax receipt.
3. Taxes
Get a free EIN from the IRS first. How. Register with Virginia before your first taxable sale. Register in Virginia
If you expect to owe $1,000 or more in federal tax for the year, you pay estimated tax four times a year.
Virginia's yearly report
An annual registration fee is due by the end of your formation month each year. The state fee is about $50.
Example: an LLC formed today would have its first one due Oct 31, 2027.
Your first-month checklist
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Check your license and brokerage registration
Virginia requires a license to work as a real estate agent or broker, and in most states the brokerage company itself must be licensed too. New agents work under a licensed broker.
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Get errors and omissions (E&O) insurance
Errors and omissions insurance covers claims that you made a mistake in a deal. Many brokerages require it, and some states do too. See options
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Get your EIN
Free from the IRS, online in about 10 minutes. Banks, clients and payroll all ask for it. You never need to pay a service for it. How to get it free
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Open a business bank account
Keeps the company's money separate from yours, which is what protects your LLC. See options
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Set up bookkeeping
Track every sale and expense from day one so taxes take hours, not weeks. See options
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Plan for taxes on commission income
Commissions usually come with no tax taken out, so set aside money for quarterly estimated taxes. See options
What insurance costs
| Coverage | Median per month |
|---|---|
| Errors and omissions (E&O) | $68 |
| General liability | $40 |
| Workers' compensation | $50 |
| Cyber insurance | $129 |
Source: Insureon, Feb 2025. Your price depends on your work, location and history.
Other trades in Virginia
Sources: state agency sites linked above; annual report rules compiled from state sites (checked Oct 2026). Rules change, so confirm with the agency before filing.