07/02/2025
Summertime Vacations and Moving Season!
New Virginia Laws That Affect Buyers and Sellers!
(I don't make them laws, I just follow them... )
Sometimes laws are passed to protect individuals, but at first glance, they can feel like roadblocks.
For instance—did you know that agents cannot legally say whether a neighborhood is “safe” or not? That’s because it could violate Fair Housing Laws. Still, I hear the question all the time:
“Is this a safe area?”
Now let’s talk about what’s new in Virginia real estate especially for buyers:
-Agents working with a buyer must enter into a written agreement before the buyer tours ANY home
-Clearly state the compensation amount, rate, or how it’s determined, must be specific and not open-ended.
-Agents can't receive more than the agreed amount from any source.
-A clear note that fees are negotiable and not set by law.
Another big question I get a lot is "I just want to see a house" or "I only need a list of homes with certain criteria":
-An Agent is deemed to be “working with” a prospective buyer WHEN providing brokerage services, such as identifying potential properties, arranging to tour a property, or performing or facilitating negotiations on behalf of the prospective buyer.
There are other laws; however, this I think has the biggest initial impact on Home buyers!
As customers get upset I have to remind them...
I don't make them laws, I just follow them...
(Due to the latest Settlement with the National Law Suits, most states have enacted similar laws)