When discussed, council for the Virginia Association of Realtor stated, there has been way too many issues recently. We all know the last couple of years the market has been tough. People who are unhappy with their situation have been trying to take it our on their REALTOR via a legal process. Therefore, it is the opinion by those in power to make it a requirement to have buyers sign a brokerage relationship in order for any agent to perform any activity.
If a potential buyer wants to see a house, they will have to sign a brokerage agreement or a non client agreement. If a potential buyer refuses to sign an agreement or a non-client representation agreement, and an agent shows them a house, that agent would be in violation of Virginia State law!
Basically what this means is either you are or are not being represented by a Bedford agent who is showing you a home. If you are being represented, then the Bedford agent works for YOU! The agent can recommend price, negotiate on your behalf, they look out for your best interest. Whatever you tell them stays private. If you do not sign a Bedford buyer broker agreement, then the agent showing you the homes works for the seller , they can not recommend anything but full price, they can disclose anything to the sellers.
So, who do you want to represent you in Bedford? A Bedford Buyers agent or the guy working for the selller?
- Atlantic Bay Mortgage Opens in Bedford (wittfogleman.com)