Home Buying in Virginia>Question Details

John Walin, Real Estate Pro in Libertyville, IL

Is Virginia a transactional brokerage agency state? What are the agency disclosure requirements in VA? We do designated agency in Illinois

Asked by John Walin, Libertyville, IL Fri Feb 18, 2011

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We disclose dual and designated agency and a host of other legal requirements. Why do you ask?

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Jay
Web Reference: http://TalleyHurstHomes.com
2 votes Thank Flag Link Fri Feb 18, 2011
Almost every year, we see more legislation to help buyers and sellers alike see the representation of a transaction. Just this year, there has been a move to make this information more obvious. We already must verbally disclose at everything from Open Houses to chats online.
We also have sets of written forms that are presented before, and during an offer/contract procedure.

By the way, agents are frequently tested, and this is one of the most stressed topics.

Best-
Jay
Web Reference: http://TalleyHurstHomes.com
0 votes Thank Flag Link Sat Feb 19, 2011
Thanks for the response. I have found that florida and colorado allow transactional brokerage and it is watered down representation, actually what we call here as no agency disclosure, since agents work for the transaction. I am trying to find out what other states do TB as a matter of state license law. Illinois and VA having designated agency and disclosed dual agency is proper client care. TB states don't brag about how great it is and reluctantly do buyer agency or in the case of FL, don't have to disclose since it is presumed the public knows FL is a TB state!
0 votes Thank Flag Link Sat Feb 19, 2011
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