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Virginia Real Estate Agent Listing Agreement

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Virginia Real Estate Agent Listing Agreement

Updated August 02, 2023

A Virginia listing agreement is a contract in which a real estate broker agrees to sell a property as the property owner’s agent. There are two (2) main types of listing agreement, an exclusive agreement (the most common type) and an open agreement. In an exclusive listing agreement, the agent is given the exclusive right to sell the owner’s property for a commission. Whereas, in an open agreement, the seller can engage as many brokers as they like and only pay the agent who successfully sells the property. In Virginia, a real estate broker can act as an agent for both the buyer and the seller in a transaction (this is known as “dual” or “limited” agency), provided that they obtain the written consent of both parties. Once the broker and the seller have executed the contract, the broker will have the authority to negotiate the sale of the property up until the agreement’s expiration date.

Agency Disclosure Form (18VAC135-20-220) – Required to be read and signed by the seller.

Dual Agency (§ 54.1-2139) – Permitted in Virginia if the agent receives written consent from all parties (buyer and seller).

Property Disclosure Statement – State law requires the owners of residential real property to provide potential buyers with a completed property disclosure statement.

Search a Licensee – The Department of Professional and Occupational Regulation’s license lookup webpage.

Relator Version

Virginia Assoc. of Realtors – Residential (Revised 2018)PDF

Virginia Assoc. of Realtors – Commercial (Revised 2019)PDF