Virginia guide
Virginia Compensation Disclosure Under §54.1-2132 and Antitrust Compliance
In Virginia, a real estate agent must tell you in writing how they will be paid and who is paying them before you sign a brokerage agreement, under Va.
Reading as buyer.
TL;DR
In Virginia, a real estate agent must tell you in writing how they will be paid and who is paying them before you sign a brokerage agreement, under Va. Code §54.1-2132. If the source of that pay changes during your deal, the disclosure has to be updated in writing — not just verbally. Federal antitrust law also bars agents from agreeing with competitors on a 'standard' commission, so the number in your contract should be negotiated, not copied from the market.
Before you start — 7 things to know
Before you sign a brokerage agreement with a Virginia agent, the agent must put their expected compensation and who is paying it in writing, under Va. Code §54.1-2132.
The compensation source named in your Virginia brokerage agreement may be you directly, the seller's broker, a seller concession, or a combination — Va. Code §54.1-2132 requires the actual source to be spelled out before signing.
If the way your agent will be paid changes after you sign — for example, the seller's side stops offering cooperative compensation — Va. Code §54.1-2132 requires the disclosure to be updated in writing before that change takes effect.
If your Virginia agent ends up being paid by both you and the seller's side of the same transaction, Va. Code §54.1-2139(B) says every party must give written informed consent first.
Under the Sherman Antitrust Act (15 U.S.C. §1), competing brokerages cannot legally agree on commission rates, so 'everyone charges X%' is not a lawful price floor — your buyer-agent fee should be negotiated for your specific deal.
After the 2024 settlement, a buyer's agent can no longer rely on a -published offer of cooperation, which makes the compensation section of your Virginia brokerage agreement the binding place where your agent's pay is actually set.
A Virginia brokerage agreement that does not clearly state what your agent is paid and by whom is not compliant with Va. Code §54.1-2132, and that alone can be grounds for a complaint to the Virginia Real Estate Board.
The timeline — step by step
Before you sign anything binding with a Virginia agent, including a brokerage agreement, the agent must give you a written disclosure of compensation and source under Va. Code §54.1-2132.
When you sign the Virginia brokerage agreement, confirm the document names a specific dollar amount or percentage for your agent's compensation and identifies every source of payment under Va. Code §54.1-2132.
During the search and offer stage, if the source of compensation changes — for instance, the seller stops offering cooperation — Va. Code §54.1-2132 requires your agent to give you an updated written compensation disclosure before that change is finalized.
Before your agent accepts any payment from the seller's side of the same deal, Va. Code §54.1-2139(B) requires them to obtain your written informed consent and the written consent of every other party.
At closing on a Virginia home purchase, verify the compensation actually paid to your agent's brokerage matches the most recent disclosed amount and source from your signed brokerage agreement under Va. Code §54.1-2132.
Common questions
Who is supposed to pay my buyer's agent in Virginia?
What happens if my agent's pay changes mid-deal in Virginia?
Can my agent collect a fee from both me and the seller's side of the deal?
Is there a 'standard' buyer-agent commission in Virginia?
What if my Virginia agent never gave me a written compensation disclosure before I signed?
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.
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