Virginia Realtor Buyer Agreement

As of July 1, 2012, Virginia law now provides that a buyer and broker have a “WRITTEN” agreement (not just orally). By law, Virginia agents can only show homes and collaborate with a buyer after both have signed this buyer brokerage contract. In Virginia, Maryland and D.C., until a buyer signs a buyer`s brokerage contract, the agent he works with is legally required to represent the seller of a home. Buyers and representatives who have agreed to cooperate must specify the terms of their agreement in an official written document. Enter the buyer-broker agreement. Signing this agreement ensures that you have a broker who has a legal commitment to represent you. With this representation, an agent looking for YOUR best interests, not sellers. In 2010, Virginia lawmakers and representatives of the Virginia Association of Realtors (VAR) committed to ensuring that consumers clearly understand the role and duties of their real estate professionals. It was anticipated that this level of clarity would help consumers better understand what to expect from a broker. In order to ensure that agents provide the necessary information, a written document (in this case the representation agreement, commonly referred to as the agreement through the buyer`s agency) aims to ensure that the consumer understands the role of the representative and that the parameters of the agreement through the buyer`s agency can be verified in writing and by anyone who needs it. If you are a buyer and you have a buyer broker contract with your agent, make sure your agent plans and operates homes for you. This is a fundamental responsibility of your agent, which is essential not only in the search for the right home, but also in the opening of negotiations on the purchase of this House. I can`t stress enough that the listing agent represents the interest of sellers, especially in Virginia…

Read below: If you are looking for your next home and need an experienced broker by your side, please contact. We`ve helped hundreds of buyers find their dream homes and successfully secure them! Buyers sign the buyer-broker agreement to establish a working relationship with their broker. The intention is not to frighten anyone. In fact, it protects buyers and ensures that their broker works in their best interest, not that of the seller.