A real estate agent’s job is to help guide you through the complexities
of buying or selling a property.
A Listing agent is one that works for the seller. They will list the property on the MLS and conduct all the activities from the seller’s side and work for the seller in negotiations and conversations.
A Buyers agent works solely for the buyer, facilitating the transaction on the buyer’s behalf, looking out for their interests, advising and guiding them throughout the process.
WHY WRITTEN BROKERAGE AGREEMENTS?
So, why do you have to sign brokerage agreement?
The short answer is that Virginia law requires it in order to protect you. The longer answer is that having something in writing — whether it covers a single property or a months-long relationship — ensures that both you and your Realtor® understand exactly what’s expected from each other.
Be sure to discuss your options with your Realtor®, and make sure all your questions are answered.
In the past, when you have purchased a home you may have worked with a real estate agent with no written agreement in place. As of July 1, 2012, it is now the law in Virginia that written agreements must be in place for many services to be provided by a real estate agent, similar to how it is with many other types of professional business relationships.
Each agent or Realtor has their own duties depending on who they work for and each can bring something different to the table during the purchase, sale of homes.