What is required in Virginia when representing a seller in a real estate transaction?

In Virginia, when representing a seller in a real estate transaction, it is mandatory for the broker to provide a written agency disclosure to the seller. This requirement is in place to ensure that the seller understands the nature of the relationship they have with their broker, including the level of representation and the responsibilities involved.

Written agency disclosures clarify the duties and obligations of the broker towards the seller, helping both parties to establish clear expectations. This process is a fundamental aspect of real estate practice in Virginia, aimed at promoting transparency and informed decision-making for the seller.

Verbal disclosures alone do not fulfill legal requirements, as they may lead to misunderstandings or misinterpretations regarding the agency relationship. The option referring to conducting an open house or obtaining a survey of the property is not related to the legal obligations of agency disclosure, as these actions pertain to marketing strategies or property assessments rather than the necessary disclosure of agency terms.