Do I Really Have To Sign A Brokerage Agreement?
As of July 1st of this year, Virginia changed how Realtors are required to do business. Under the new law before a real estate agent can perform any kind of substantive real estate service they must have a signed brokerage agreement.
This law was enacted to protect you, the consumer. The brokerage agreement provides you with something in writing that tells you what you can expect your real estate agent will do for you. Importantly, when you enter into an agency relationship with a real estate agent they are required to keep all of your information confidential forever. The signed brokerage agreement creates this agency relationship.
This buyer - broker agency agreement will state what services will be provided by the Realtor, how long the agency relationship will last, and what the fee will be and how will it be paid. Once you have signed the brokerage agreement your Realtor will be able to start working for you.
So the answer to your question is, that yes you do have to sign a brokerage agreement; its the law.
If you have any questions, about the new Virginia agency law, give me a call. I would be glad to discuss it with you.
Contact Pam Dent, e-PRO, SRES, SFR, President Blue Ridge Chapter Women's Council of Realtors, Montague Miller & Company, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville. Email Pam Dent.
Licensed to sell real estate in Virginia.
View all of the Charlottesville Virginia homes for sale.
View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate.
Copyright 2012 by Pam Dent all rights reserved "Do I Really Have To Sign A Brokerage Agreement?"