Updated April 23, 2024
A Virginia buyer agency agreement is a contract that relays the contains by which a real estate agent will work as the representative a home buyer. In addition to specifying the type of property and price range that the client is looking for, the document describes the services that the agent provides, as well as their duties to act in the client’s interests and negotiate the best deal for them. The agent will charge a commission which is to be paid if they facilitate the purchase of a home on the buyer’s behalf. A retainer fee may also be required to be paid to engage their services.
Disclosures
Agency Disclosure Form – Prior to any agency agreement being entered into, the client must read and sign this form which discloses agency relationships.[1]
Dual Agency – Agents can only represent both parties in a property sale if they receive written consent from both parties.[2]
Realtor Version
Virginia Association of Realtors – Exclusive agreement – PDF
Virginia Association of Realtors – Non-exclusive agreement – PDF