On July 1, 2012, a new law passed that requires for a Buyer Broker agreement in the state of Virginia. Simply put, if you’d like to make an appointment to go see a house with any REALTOR® in Virginia, you are now required to first enter into a written brokerage relationship agreement. This agreement lists the obligations of all parties, as well our duties, specific dates (which can be good for one day or multiple months), as well as pay structure for the agent.
It has come to be expected, and for quite some time, that when you put your house on the market, you sign a listing agreement with your agent and their Brokerage. The same is now true for Buyers, with the intent to inform buyers of the types of representation available to them.
While this has been cause for some confusion, this is a great thing for you when you are ready to pursue a new home purchase. What it means that that YOUR interests are the primary focus. As a Buyer’s Agent, our sworn goal is to help you pay as little as possible for a home (just as a Seller’s Agent is trying to have the buyer pay as much for the home as possible).
When you engage Kim and I as your Agent, you have a professional advocate working hard on your behalf. We are committed to offering solid business experience and timely market information. We will negotiate solely on your behalf and reduce your stress.
Call us today and we would be happy to explain the benefits of the new Buyer Broker law. It has taken some adjustment, but we feel it has been a positive step in assuring our Buyer clients that they are receiving the best attention possible as they pursue this important Real Estate decision in the Richmond area.