Real Estate Buyer Agency Agreement to be Required by Virginia State Law

Virginia Buyer Agency Agreement, Shannon Milligan, Home Sweet Henrico with Keller Williams Realty Richmond West

For many years, it has been standard practice for Virginia brokerage relationships between a Seller and their real estate agent to be clearly defined in writing. As of July 1st, 2012, Virginia State law will extend this practice to Buyers and their agents as well. If a Virginia real estate professional performs licensed activities, such as showing homes, without the buyer agreement in place, they shall be in violation of Virginia law.

What does this mean for you, as a Buyer? It simply means that you and your selected Virginia real estate agent will have an agreement as to what type of services shall be performed on your behalf, the duration of that agreement, and any fees that may be associated. In a nutshell, it is a contract that gives you the same privilege of protection that Virginia Sellers have had for many years!

Thinking about buying in the Henrico County Real Estate or surrounding Richmond Real Estate market? Contact me, Shannon Milligan at Home Sweet Henrico with Keller Williams Realty Richmond West, and let me light your way to home sweet home!

To begin your Richmond Virginia Home Search, please visit: Richmond Homes for Sale

 

Shannon Milligan

Home Search Richmond VA

Keller Williams Realty Richmond West

6600 West Broad Street, SUite 150, Richmond, VA 23230

804-248-8207 (cell), 804-282-5901 (office)

www.homesearchrichmondva.com

 

 

 

 
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3 Comments on Real Estate Buyer Agency Agreement to be Required by Virginia State Law

MAR
24
2012
1,924,499 Points 155 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I think this is a great law, you are working with them and just like a listing you should have a contract with them. You wouldn't see a lawyer take on a client without a contract, why should we.

 
10:16pm • #1
MAR
27
2012
256,743 Points 16 Featured Posts Outside Blog Called Shot Master

Todd - I agree, it is great protection for everyone involved!
6:46am • #2
MAY
06

WONDERFUL!!!!GREAT!!!!GOOD NEWS!!!! All day I have been reading on the pros and cons of a Buyers Agency Agreement. Come on Florida, you can do it. Yikes!! I just thought of our state and the last November Election Voting. :-)) Wait a minute, so many of the Florida November elections. We'll probably lag in last again. Now that isn't a very positive thought, is it? (ha)
3:10pm • #3


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Shannon Milligan,your Richmond real estate agent with Keller Williams Realty, is lighting your way to home sweet home in the Metro Richmond Real Estate market. www.homesearchrichmondva.com


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