Hosting an open house can be one of the most effective ways to attract potential buyers and generate interest in your property. By allowing multiple visitors to tour the home at once, sellers often
When is a Written Brokerage Agreement Needed?
Dated: November 21 2022
Views: 110
The Code of Virginia requires a written brokerage agreement when a brokerage relationship, as defined in § 54.1-2130, is created. When a customer becomes a client is based upon the party’s intent. A licensee needs to use his judgment based upon a customer’s words and actions to make a determination as to when the intent to enter into a brokerage relationship is established and therefore, requires a brokerage agreement.
Is the party looking for the licensee to provide advice and counsel requiring the licensee to exercise his judgment or discretion for the purpose of procuring a seller, buyer, option, tenant, or landlord ready, able, and willing to sell, buy, option, exchange or rent real estate? If so, this would require a written brokerage agreement as these acts don’t fall within the definition of ministerial acts.
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
