A Virginia buyer representation agreement has to be in writing, state the agent’s fee and when and how it is paid, list the services, and carry an end date. The Northern Virginia Association of REALTORS reports that since July 1, 2025 you also have to sign one before an agent shows you a home. The fee is negotiable, and Virginia’s brokerage statute does not set it.
This guide walks through what the statute says, what changed after the 2024 National Association of REALTORS settlement, who can pay your agent, and what to ask before you sign. It is general information, not legal advice. Ask a Virginia real estate attorney about your own agreement.
What the written agreement must say
The rule sits in Code of Virginia section 54.1-2137. Subsection C says brokerage agreements “shall be in writing” and lists what each one must contain:
- A definite end date. If the agreement names none, it ends 90 days after the date on it.
- The fee. The agreement must state the brokerage fee amount and when and how it is paid.
- The services. It must describe what the licensee will do for you.
- Any other terms you and the agent agree on.
- Dual representation disclosures, if one licensee could end up on both sides of your deal.
Another statute, section 54.1-2132, lists what a buyer’s agent owes you once you are a client. It includes helping you draft and negotiate offers, presenting all written offers promptly, keeping your personal and financial information confidential, and disclosing material facts the agent actually knows. Your agreement can add to those duties.
The Real Estate Board’s regulations add paperwork rules for the firm. The Virginia Department of Professional and Occupational Regulation (DPOR) publishes them in its Real Estate Board regulations. The supervising broker must make sure every brokerage agreement includes the supervising broker’s name and contact information, and the firm must keep brokerage agreements for three years from the date they are signed.
Not sure what a supervising broker is? Our guide to checking an agent’s license and complaint history with DPOR explains each license type.
Interview us alongside the others
Before you sign anything, meet two or three agents and compare their agreements side by side. Include us. Read the agents on our team, look at our success stories, and ask any agent to show you the full agreement before you commit.
What changed after the 2024 settlement, and what did not
Virginia Realtors says written buyer agreements are not new here. Its NAR settlement explainer states that “Virginia has had required buyer brokerage agreements since the mid-1990s.” The association lists forms for the common setups: an exclusive right to represent buyer (Form 450), a non-exclusive agreement (Form 460) and a short form (Form 465).
What the settlement changed is how agent pay is handled. In July 2024 Virginia Realtors reported that the practice changes would take effect no later than August 17, 2024, and noted the settlement was still waiting on court approval at that time. Two changes it described:
- Listing brokers can still share compensation with a buyer’s broker when the seller gives written approval, but that sharing is communicated directly between agents, not through MLS or association platforms.
- A buyer’s agent cannot accept money from any source beyond the amount stated in the buyer brokerage agreement.
The national group’s own consumer guide to written buyer agreements says the compensation in the agreement must be a specific amount, such as a flat fee, a percentage or an hourly rate. It cannot be open-ended or a range. It also says you can skip the agreement when you visit an open house on your own or when you only ask about an agent’s services.
Virginia then added its own timing rule. The Northern Virginia Association of REALTORS reports in its summary of HB 1684 and SB 1309 that, from July 1, 2025, a written agreement must be signed before a licensee shows a buyer a property. Showing includes a live virtual tour for a buyer who is not present. A licensee may still prepare property-specific materials to win your business before you sign.
Who pays your agent, and how the fee is negotiated
You are the client, so the agreement makes you responsible for the fee it states. The national consumer guide says you can also ask for, negotiate for and receive compensation from the seller or the seller’s agent. Virginia Realtors says sellers may pay the buyer broker’s fee directly if the purchase contract negotiates it. Under the settlement practice rules above, the buyer’s agent cannot collect more than the agreement allows from all sources combined.
Both sources say pay is negotiable and not set by law. Neither names a standard rate, so none is given here. Any agent who quotes you “the usual percentage” as a fixed rule is not describing a Virginia requirement.
| Item | Number or date | Source |
|---|---|---|
| Default length if no end date is written | 90 days from the agreement date | Va. Code 54.1-2137(C) |
| Written agreement must be signed before showing | Starting July 1, 2025 | NVAR on HB 1684 and SB 1309 |
| Settlement practice changes in effect | No later than August 17, 2024 | Virginia Realtors, July 2024 |
| How long the firm keeps your agreement | 3 years from signing | Real Estate Board regulations |
| Virginia buyer agreements required | Since the mid-1990s | Virginia Realtors |
If you pay the fee yourself, plan for it in your cash budget. Talk with a lender through our preferred lenders page or any lender you choose before you write an offer, and use the mortgage calculator to test your monthly payment.
Questions to ask before you sign
- What exact fee is written in the agreement, and is it a flat fee, a percentage or an hourly rate?
- If the seller offers to pay part of that fee, what happens to the amount I owe?
- When is the fee due, and does it apply if I buy a home the agent did not show me?
- What is the end date, and what happens on day 91?
- Which services are included, and which are not?
- Can I leave early, and what does that cost me?
- Is the agreement exclusive, or can I work with another agent in the same search?
- Who is the supervising broker named on the agreement?
- Could this agent end up representing the seller too? Our post on dual agency and designated agency in Virginia explains the consent you would be asked for.
Whether you search in the Fan, Short Pump or Midlothian, the agreement should say whether it covers a single county or the whole region. If you are still browsing, the property search needs no agreement. An agent only needs one before taking you through a home. County pages such as Henrico County and Chesterfield County help you narrow where to start.
Where Virginia law is unclear or silent
- Fee levels. The statute requires a stated fee but sets no amount or cap.
- Seller-paid amounts. The sources we reviewed say sellers may pay and that the agent cannot collect beyond the agreement. They do not say whether a seller’s payment reduces what you owe. Put the answer in writing in the agreement.
- Buyer agreements by name. Section 54.1-2137 covers brokerage agreements with clients generally and does not single out buyers. The July 1, 2025 timing rule comes from a 2025 amendment we could only read about in the NVAR summary, so ask your agent or attorney for the current statute text.
- Exact settlement terms. Practice rules came from a private settlement and association policy, not from Virginia statute. Check with your agent and attorney how they apply to your contract.
Next step
Compare agreements, then set up a saved search
Compare agreements, fees and services across a few agents, ours included. See our team and our success stories, then tell us the areas you are searching and we will set up a saved search.
Frequently asked questions
Do I need to sign an agreement to go to an open house?
Not for an open house you attend on your own. The national consumer guide says you do not need an agreement to visit an open house or to ask about an agent’s services. You sign before an agent shows you property as your agent. Browse current events on our open houses page.
Can I leave the agreement early?
Section 54.1-2137(A) says a brokerage relationship ends when the work is complete, at an agreed expiration date, by mutual termination, or if a party defaults. The national guide says the agreement may state conditions for exiting. Ask for those conditions in writing before you sign.
What does my agent still owe me after the agreement ends?
Unless you agree otherwise in writing, section 54.1-2137(D) limits the agent’s remaining duties to accounting for money and property connected to your deal and keeping your personal and financial information confidential, plus anything else you asked to keep private.
Does my agent have to keep searching once I am under contract?
Under section 54.1-2132(A), no, unless the agreement says otherwise. The agent still helps you meet contract obligations and move toward settlement.
Can one agent represent me and the seller?
Only with written consent from both parties after written disclosure, and a disclosure buried in the purchase contract does not count, per section 54.1-2139. If you refuse consent, the agent may withdraw without liability. Our guide to dual agency and designated agency covers it.
Which agreement form will I likely see?
Virginia Realtors lists Form 450 (exclusive right to represent buyer), Form 460 (non-exclusive) and Form 465 (short form). Other brokerages may use their own forms. The statute’s requirements apply to all of them.
What if I think my agent broke the rules?
DPOR takes written complaints within three years of the act, or two years after discovery in cases of misrepresentation or concealment. DPOR cannot order refunds. See our guide to checking an agent on DPOR.
Is a written agreement a promise to buy?
The statute describes the agreement as setting the relationship, fee, services and term. It does not describe it as a promise to buy a home. Ask an attorney how your specific fee clause applies if you do not buy.
