According to Virginia statutes, what must a real estate agent disclose to any sellers they encounter?

In Virginia, real estate agents have a duty to disclose certain information to sellers that pertains to their clients' intentions regarding a property. This includes revealing any relevant plans or motivations a potential buyer may have concerning an offer on the property. Understanding a buyer's intentions helps sellers make informed decisions about negotiations and pricing.

Disclosing a buyer's financial situation or previous purchases would be considered confidential and typically is not required unless it directly affects the transaction's outcome. Furthermore, confidential information regarding other offers must also be kept private, as sharing this could undermine the negotiation process and violate the trust inherent in the agency relationship. Thus, focusing on a buyer's specific intentions regarding the property helps maintain transparency while respecting confidentiality where applicable.