What is a license issued to brokers active in more than one real estate firm or business called?

The term that denotes a license issued to brokers who operate in more than one real estate firm or business is referred to as "concurrent." This concept reflects a broker's ability to engage in multiple professional relationships simultaneously, allowing for greater flexibility and opportunity in the market. A concurrent license authorizes a broker to practice with multiple companies or in various transactions without being tied to a single firm, which is especially advantageous in markets where brokerage firms often collaborate or where brokers seek to diversify their operations.

In contrast, "dual" typically relates to situations where a broker represents both buyers and sellers in the same transaction, which involves different legal and ethical considerations. "Cooperative" and "joint" convey more of a partnership or collaboration between firms or entities rather than focusing on the licensing of an individual broker across multiple firms. Thus, understanding the nuances of these terms helps clarify their use in real estate law and practices in Virginia.