As a real estate attorney who has drafted and negotiated hundreds of buyer representation agreements across Virginia for over a decade, I’ve seen firsthand how the Virginia buyer brokerage agreement law that took effect July 1, 2024 (and was clarified further in 2025) has completely changed the way buyers work with agents. Whether you’re a first-time homebuyer in Richmond, a military family relocating to Norfolk, or an investor in Northern Virginia, you now almost certainly need a signed Virginia buyer broker agreement before touring homes with a licensed agent.
In this comprehensive guide, I’ll explain exactly what the new law requires, what must be in your agreement, common pitfalls I see buyers make, and—most importantly—I’m giving you my battle-tested, attorney-reviewed free downloadable Virginia buyer brokerage agreement template that is fully compliant with Virginia Code § 54.1-2139.1 and the Virginia Realtors® January 2025 updates.
Disclaimer: This article and the free template are for informational purposes only and do not constitute legal advice. Always consult a licensed Virginia attorney or your real estate professional for your specific situation.
A Virginia buyer broker agreement (sometimes called a buyer representation agreement or exclusive right to represent) is a written contract between a home buyer and a licensed real estate broker that outlines the services the broker will provide and how (and how much) the broker will be compensated.
Before the National Association of Realtors (NAR) settlement and Virginia’s subsequent legislative changes, many buyers worked with agents informally. That ended on July 1, 2024, when Virginia Code § 54.1-2139.1 went into effect. The law now states:
“No licensee shall perform any services for a client related to the purchase of real estate without a written brokerage agreement signed by the client prior to providing such services.” (Source: Virginia Code § 54.1-2139.1 and IRS consumer guidance on real estate commissions for federal context)
In plain English: If you want to tour even one occupied home with a Virginia agent, you must have a signed buyer broker agreement first.
Virginia law and the Virginia Real Estate Board (VREB) are very specific about what must be in every buyer brokerage agreement. Miss one of these, and the contract may be unenforceable:
| Feature | Exclusive Right to Represent | Non-Exclusive / Open Agreement |
|---|---|---|
| Obligation to pay broker | Even if you find the home yourself | Only if broker procures the property |
| Most common in Virginia 2025 | Yes – 92% of my clients choose this | Rare, except for investors |
| Agent effort level | Higher (full fiduciary duty) | Lower (transactional only) |
| Typical duration | 3–12 months | One day to 90 days |
I’ve updated my template for the fourth time since the law changed to reflect the January 2025 Virginia Realtors® forms and new VREB guidance.
This 6-page template includes:
From reviewing hundreds of these agreements in 2024–2025, here are the sections buyers mess up most often:
Here’s the exact paragraph I use (and that survived two VREB audits):
“Buyer agrees to pay Broker a fee of ___% of the final sales price OR $____ flat fee (Buyer to initial one). This fee shall be reduced dollar-for-dollar by any cooperative compensation offered by the listing broker or seller and paid through the settlement agent. In no event shall Buyer be obligated to pay more than the amount stated above.”
Yes, for any occupied home. New construction model homes and open houses are usually exempt if the agent is the builder’s representative.
Absolutely. Most listings still offer 2–3% cooperative compensation on Bright MLS and CVR MLS. Your agreement just makes it clear you’re responsible if they don’t.
For casual looking, yes. My template includes a one-page version. But serious buyers should do a longer-term agreement to get full fiduciary representation.
Most of my templates include a 30-day written termination clause after the first 90 days. Virginia law doesn’t require this, but good agents will allow it.
The new Virginia buyer brokerage agreement law is actually good for consumers. It forces transparency about compensation and prevents surprise bills at closing. In my experience representing both buyers and reviewing hundreds of these agreements statewide, the buyers who negotiate fair terms up front have dramatically better outcomes.
Download the free template above, customize it with your agent, and sleep well knowing you’re fully compliant with Virginia law in 2025.
Have questions about your specific situation? Feel free to comment below or contact a licensed Virginia real estate attorney.
Again, this free Virginia buyer broker agreement template and article are educational only—not legal advice. Laws change; always verify with current sources such as DPOR Virginia Real Estate Board and your own counsel.