How Do Buyer's Agents Get Paid? What Virginia Buyers Should Know
Real Estate, Buyer’s Agents, Arlington Virginia
How Do Buyer's Agents Get Paid? What Arlington Buyers Should Know
Buyers now sign a written agreement with their agent before touring homes. Here is how agent pay works in plain English.
How does a buyer's agent get paid in Virginia?
Under national rules that began in August 2024, buyers sign a written agreement with their agent before touring homes, and the agent's pay is negotiable.
Many buyers wonder who pays their agent. Here is the plain answer.
The Mike Webb Team (Mike and Claudia Webb, RE/MAX Allegiance) helps homeowners in Arlington, Northern Virginia, Maryland, and Washington, DC get their homes ready to sell and sold. We also help buyers find the right home.
What changed?
A national settlement changed industry practice in August 2024. Agents who work with a buyer now sign a written agreement with that buyer, and the agent's compensation must be stated clearly. Pay is negotiable between the buyer and the agent.
Who pays?
It can be paid in different ways:
The seller may offer to pay part or all of it in the listing or the contract.
The buyer may pay it directly.
Or a mix of the two.
The agreement spells it out so there are no surprises.
A short, clear agreement shows exactly how and when your agent is paid.
What do I get for the pay?
A good buyer's agent helps with:
Finding homes that fit your needs
Explaining the market and pricing
Writing and negotiating the offer
Managing the contract, inspection, and deadlines
Keeping the process moving to settlement
What should I ask before I sign?
What does your service include?
How and when are you paid?
What if the seller does not offer to pay?
How long does the agreement last?
Can I end it, and how?
Read the agreement before you sign. If you do not understand it, ask.
FAQ
Do I have to sign before I tour a home?
In most cases, yes, under current industry practice.
Is the pay the same for everyone?
No. It is negotiable.
Can a seller refuse to pay my agent?
Yes. That is why the agreement matters.
Questions about buying?
Call or text The Mike Webb Team at 703-350-3884 or visit claudiawebb.com.
The Mike Webb Team, RE/MAX Allegiance. Arlington, Virginia. Equal Housing Opportunity.
