Which of the following is NOT required to have a Virginia real estate business entity firm license?

In Virginia, a broker owner sole proprietorship is not required to have a real estate business entity firm license because the sole proprietor stands as the legal entity in the business. A sole proprietorship is an unincorporated business owned by one individual, meaning that the owner has complete control over the operations and is personally liable for the business's obligations. As a result, individuals operating as sole proprietors can conduct real estate transactions using their personal name or a trade name without needing to form a separate business entity to hold a license.

In contrast, LLCs, corporations, and non-broker owner sole proprietorships are distinct entities that require a business entity firm license. These structures are recognized as separate from their owners and involve more regulatory requirements. Therefore, while other types of business entities must comply with licensing requirements, a broker owner sole proprietorship operates under a different set of rules, allowing the owner to manage real estate activities without the need for an additional business entity license.