If you’re buying a home in Hampton Roads in 2026, the first piece of paperwork your agent is going to hand you isn’t a loan pre-approval or an offer — it’s a buyer agency agreement. This has been true for years in Virginia, but the 2024 National Association of Realtors settlement changed how the conversation happens, what the document says, and what buyers actually pay for representation. I’ve had this conversation hundreds of times now, and I want to walk you through it in plain English so you know what you’re signing and why.
In This Article
What a Buyer Agency Agreement Actually Is
A buyer agency agreement is a contract between you and a real estate agent (or brokerage) that defines the relationship. It spells out what the agent will do for you, how long the arrangement lasts, what geographic area and property types it covers, and how the agent gets paid. In Virginia, agents are required to establish a written agency relationship before providing substantive buyer services — so you’ll see this document early, usually at the first or second showing.
The document should answer five basic questions: Who represents you? How long? For what properties? At what cost? How do we end this if it’s not working? If an agent hands you a form and rushes past those questions, slow down. A good agent wants you to read it, ask questions, and understand exactly what you’re committing to. The document isn’t a trap — it’s the thing that makes the agent legally required to work in your interest rather than the seller’s.
Why This Changed in 2024 — The NAR Settlement
In March 2024, NAR reached a settlement in the Sitzer-Burnett commission lawsuits that took effect in August 2024. Two rules changed the way homes get bought in Hampton Roads and across the country. First, agents representing buyers must now have a written buyer agreement in place before showing a home listed on the MLS. Second, offers of compensation to buyer agents can no longer be advertised on the MLS. You can read the overview directly from the National Association of Realtors settlement FAQ if you want the source.
The practical effect on the ground in Hampton Roads: buyers and their agents now negotiate compensation directly, in writing, before showing property. Buyers can still ask the seller to cover the buyer agent’s fee as part of the purchase offer — and most still do — but that ask is now a negotiation point in the offer rather than a line buried in the MLS. Sellers can still offer compensation. Buyers and agents can still agree on the amount. What changed is that everything is explicit and documented up front.
What Agents in Hampton Roads Typically Charge
I’ll be direct with you because everyone else dances around it. In Hampton Roads, buyer agent compensation most commonly lands between 2% and 3% of the purchase price, sometimes expressed as a flat fee on lower-price homes. On a $385,000 home — right around the average sale price I work with — that range translates to $7,700 to $11,550. The agreement you sign with me (or any agent you work with) states your maximum — what the agent may ask for from the seller or from you, whichever combination gets us to that number.
Here’s how it usually plays out at the offer stage. You find a home you want. I write the offer. In that offer, we ask the seller to pay the buyer agent compensation up to our agreed amount — say 2.5%. If the seller agrees, the seller’s proceeds cover it and you never write a check for my fee. If the seller counters and offers only 2%, you and I talk through whether we accept the reduced number, whether you pay the 0.5% difference, or whether we walk. More than 90% of my buyer deals close with the seller paying my entire fee — but that’s a negotiation, not a guarantee.
Key Terms to Watch in the Agreement
Duration
Some agents propose 6- or 12-month exclusives on the first meeting. I don’t. If we’ve never worked together, sign a short-term agreement — 30, 60, or 90 days — and we’ll extend if you’re happy with how I’m serving you. A good agent earns the long-term relationship, they don’t corner you into one.
Scope and Geography
The agreement should be specific about where and what. If you’re looking in Chesapeake and Suffolk, the agreement shouldn’t cover “all of Virginia.” If you’re shopping single-family, it shouldn’t silently include multifamily or land. Narrow scopes protect you — they let you work with another agent on a different type of property if that ever comes up.
Termination
Look for the clause that explains how you end the agreement. Most Hampton Roads buyer agreements allow either party to terminate with written notice. Some include a protection period that says if you close on a home I showed you within 30–90 days of termination, compensation is still owed. That’s normal and fair. What’s not fair is a termination clause that locks you in with no exit — if you see that, push back.
Dual Agency
Virginia allows dual agency — one agent representing both buyer and seller — only with written consent from both sides. The agreement should clearly state whether your agent is willing to act as a dual agent and how that consent gets captured if it happens. For what it’s worth, I don’t practice dual agency on my own listings. I’d rather refer you to a trusted colleague and make sure you have someone whose loyalty is only to you.
Military and VA Buyer Considerations
If you’re using a VA loan, your buyer agent agreement interacts with VA financing rules worth knowing. The VA doesn’t restrict you from paying your agent a buyer’s compensation, but seller-paid buyer agent fees don’t count against the 4% seller concession cap that applies to other VA loan concessions like discount points or prepaid taxes. The VA Home Loan program page lays out the current concession framework. On top of that, VA appraisals in Hampton Roads have their own cadence, so the timing between agreement, offer, and closing matters. I talk through all of this with military buyers before we tour the first home.
One specific thing for military buyers: if you’re under orders and have to cancel a purchase because the military moves you mid-contract, your buyer agreement should include a military clause that releases you without penalty. Virginia’s statewide standard forms already handle this, but make sure it’s in yours.
Questions to Ask Before You Sign
Before you sign a buyer agency agreement with any Hampton Roads agent, ask these five questions straight-up. How long is the initial term? What geography and property types does this cover? What’s your fee, and how do we handle the case where the seller offers less than that? How do I end the agreement if it’s not working? Are you willing to work with my lender, my inspector, and my timeline — or yours?
If the answers feel rushed, evasive, or “we’ll figure it out later,” that’s your signal. The buyer agency agreement should be the start of a working relationship where you know exactly what you’re getting. I put all of this on paper — and in conversation — before we ever start touring homes. You can reach me through /contact/ or see more of how I work with buyers on the about page. For the official NAR settlement details, the Real Facts campaign is NAR’s consumer-facing breakdown of what changed and why.