July 1, 2012 agents are now required to have buyer representation in writing in the state of Virginia. Realtors must disclose which party represented in a transaction prior to showings. Without a clear understanding, many clients are hesitant to sign (perhaps you do not know the agent well enough to commit or think there is a fee for a buyer rep- there is not). I would recommend signing a limited agreement for a day to view 1 to 2 homes. If you are comfortable with the agent after the initial meeting, then extend the agreement for the purpose of finding your home with that agent.
If you sign the buyer’s agency agreement, they will then represent you, and any information they have or can gather about the seller, will be shared with you. Your information will never be shared with the seller. The agent negotiates on your behalf, and represents you the best way they can. A good agent will provide all the pros and cons about a home. Since the agent views homes all the time, and presumably, you only buy a home once every 5 – 10 years, they will spot defects that you won’t.
See all Fairfax County.
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