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We have some potential home buyers asking why they need to sign a buyer broker agreement and what is it so here's a quick video that explains what a buyer broker agreement is what terms you can put on there to limit your agreement with an unknown agent if you don't feel comfortable with the agent yet as well as other important information that you will need to know and should know when you're ready to work with an agent so take a little bit of time and review the video and if you have any questions give us a call you are required by Virginia law to have agency disclosure in writing and signed hi my name is Ida Walsh and in this video we'll review the standard NVA are Breyer broker agreement so that you know what you're signing understand the terms of the agreement and the importance of agency relationship and associated duties as well as other disclosures and addendums our goal at your new home team is always to educate inform and empower our clients through utilization of videos checklists websites ebooks guides webinars and downloads we aim to provide information in multiple channels making it super convenient for our clients buying a home or an investment property is a significant investment both for you and your family if you have one transactions can get complex especially in today's real estate market so finding an agent that keeps up with the changes in contracts and the market and one that will guide you through the process that you can communicate with is an important decision make sure you understand all the paperwork and contracts that will legally bind you sometimes one word can make a huge difference in a contract and the offer terms our goal in this video is to effectively explain all terms so let's get started with the agreement form this by a broker agreement is between the buyers you and the broker agent there are two primary types of relationships that exist between real estate agents and the buyers there is a seller's agent and the buyer's agent the sellers agent represents the seller and a fiduciary duties to the seller only and the buyer agent is on the opposite side owes the fiduciary duties to the buyers only now prior to 1992 all agents actually all worked for the seller but buyers wanted their own representation without cost so that's when the buyer broker representation was brought about effective July 1st 2012 Virginia law requires that this agreement be in writing to protect the consumer that you have representation this is your right under the law signing up via broker agreement is the law but seeking the best representation possible for your specific needs and loss is extremely important it means that both parties are committed to working together to establish an intended purpose by a broker agreement is a contract similar to an employment contract it basically establishes a business relationship between you the buyer and the agent the agreement must include the start and end date what and how the broker will be...