Virginia guide

Virginia Buyer Brokerage Agreement Requirements Post-August 17, 2024

In Virginia, you have to sign a written agreement with a buyer's agent before they can take you on a tour of any home.

TL;DR

In Virginia, you have to sign a written agreement with a buyer's agent before they can take you on a tour of any home. That agreement spells out exactly how much your agent gets paid — it can't be vague or 'whatever the seller offers.' You can sign a short, non-exclusive agreement just for one tour if you're not ready to commit to one agent yet.

Before you start — 8 things to know

  • Before any Virginia agent can show you a home in person, you must sign a written buyer brokerage agreement. This rule kicked in August 17, 2024, after the settlement, and it applies to every Virginia (the database agents use to list homes).

  • The agreement has to lock in a specific dollar amount or percentage your agent will be paid. Open-ended language like 'whatever the listing broker is offering' is no longer allowed under the settlement rules.

  • You're not stuck with one agent forever. Virginia lets you sign a non-exclusive, tour-only agreement if you just want to walk through a single house before deciding whether to commit longer-term.

  • The seller can still help pay your agent — they just can't advertise that offer inside the anymore. The seller's offer of buyer-agent compensation now has to come through direct negotiation or as a seller concession written into your offer.

  • If you're using a VA loan, you're allowed to pay your buyer's agent directly. The VA updated its rules in 2024 specifically so veterans wouldn't be locked out of representation under the new compensation system.

  • The written agreement in Virginia must include four things: how much your agent gets paid, what services they'll do for you, how long the agreement lasts, and whether they can negotiate compensation from the seller on your behalf.

  • Read the duration line carefully before signing. Some agreements last weeks, some lock you in for months — if you change your mind, the term length determines how long you can't switch agents without consequences.

  • Put every compensation conversation in writing. If an agent verbally agrees to a lower rate or different terms, get it added to the signed agreement — Virginia code treats the written document as the binding version.

The timeline — step by step

  1. You contact a Virginia agent or meet one at an open house. Before they can take you on a private tour, they have to explain how buyer representation works and what compensation they'll need.

  2. The agent gives you Virginia REALTORS' Standard Buyer Brokerage Agreement (or their brokerage's version). You read through the four required pieces: pay, services, duration, and whether they can negotiate with the seller on your behalf.

  3. You and the agent agree on a specific compensation number — a flat fee or percentage. If you're not ready to commit to one agent, you can ask for a non-exclusive, single-tour version of the agreement instead.

  4. You sign the agreement. Only after that signature can the agent legally schedule and show you a home through any Virginia .

  5. When you find a home you want to make an offer on, you and your agent decide how their compensation will actually be paid — by you directly, by the seller as a concession in the contract, or some mix.

  6. You submit the offer. If you're asking the seller to cover your agent's pay, that request goes in the offer itself, not through the listing.

  7. At closing, agent compensation is paid out as spelled out in your signed brokerage agreement and the final purchase contract. Keep both documents — they're the record of who owed what.

Common questions

Do I really have to sign something before just looking at a house in Virginia?
Yes, if you want a private tour with an agent. The August 2024 settlement requires a written buyer brokerage agreement before any agent affiliated with a Virginia can show you a home. Open houses you walk into without an agent are a different situation — that rule covers private showings.
What if I'm not ready to pick one agent yet?
You can sign a non-exclusive agreement that only covers a single tour or a short period. Virginia REALTORS publishes a tour-specific form for exactly this situation, so you can see the home without locking yourself into one agent long-term.
Will I have to pay my agent out of pocket now?
Not necessarily. Sellers can still offer to cover the buyer's agent — they just can't advertise it inside the anymore. You and your agent typically negotiate this into your offer as a seller concession, so it gets paid at closing rather than coming out of your savings up front.
I'm using a VA loan — can I still have a buyer's agent?
Yes. The VA updated its rules in 2024 so VA-loan buyers can pay their buyer's agent directly if needed. Before that update, there was real worry veterans would be locked out of representation under the new system — that's been resolved.
What exactly has to be in the written agreement?
Four things under Virginia law and the settlement: a specific compensation amount (not vague), the services your agent will perform, how long the agreement is in effect, and whether they're allowed to negotiate compensation from the seller on your behalf. If any of those are missing or open-ended, the agreement doesn't comply.
Can I negotiate the agent's pay before I sign?
Absolutely — the compensation in the agreement is between you and the agent. You can negotiate the rate, the structure (flat fee vs. percentage), and the duration. Whatever you agree to has to be written into the document before you sign it, since the written version is what's legally binding in Virginia.
What happens if I change my mind about the agent partway through?
It depends on the agreement's duration and exclusivity. An exclusive long-term agreement may obligate you to that agent or to a fee for the term you signed. A short, non-exclusive tour agreement usually ends after the tour. Read the duration and termination clauses before signing, and ask how to cancel if it isn't working out.

Glossary

2 terms
NAR — National Association of Realtors
The national trade group for real-estate agents. The 2024 NAR settlement is the legal deal that changed how buyer's agents get paid.
MLS — Multiple Listing Service
The shared database agents use to list and find homes for sale. Most homes you'll see online started here.

Sources

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