{"id":322312,"date":"2025-11-27T23:36:23","date_gmt":"2025-11-27T23:36:23","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/did-you-know-a-bit-about-signing-buyer-representation-agreements\/"},"modified":"2025-11-27T23:36:23","modified_gmt":"2025-11-27T23:36:23","slug":"did-you-know-a-bit-about-signing-buyer-representation-agreements","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=322312","title":{"rendered":"Did You Know? A bit about signing Buyer Representation Agreements"},"content":{"rendered":"


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Question \u2013<\/p>\n

Does Virginia require a real estate agent to execute a representation agreement before showing a buyer a house?<\/h3>\n

The following is different than the lawsuits\/settlements of October 2024.<\/a><\/p>\n

Yes<\/strong><\/a>. Virginia Code \u00a7 54.1?2132<\/strong>\u00a0(entitled\u00a0\u201cLicensees engaged by buyers.\u201d)<\/p>\n

\u201cA. A licensee engaged by a buyer shall:<\/em><\/p>\n

1. Enter into a brokerage agreement with the prospective buyer prior to showing property to such prospective buyer;\u201d<\/em><\/p>\n

Does a buyer<\/em> have to sign a representation agreement prior to seeing a home?<\/h4>\n

Well, no, the buyer<\/em> does not, but the agent<\/em> does. I think that\u2019s called a Catch-22.<\/p>\n

Every agent has different business practices, but the Code of Virginia is supposed to apply equally to all agents.<\/p>\n

What do I, Jim Duncan the real estate agent<\/em> do?<\/h4>\n

I\u2019ve worked with written buyer representation agreements for decades, well before the settlements, and before 2012.<\/p>\n

Basically, before I give specific real estate guidance and advice, I, as a real estate agent (Realtor is a branding\/marketing term, not a license type) need to have the brokerage relationship in writing.<\/p>\n

Similarly, for any brokerage relationship (whether buyer or seller) there is also\u00a0Virginia Code \u00a7 54.1?2137<\/b>\u00a0which states:<\/p>\n