What is the difference between a Listing Agreement and a Buyer Representation Agreement?

A Listing Agreement and a Buyer Representation Agreement are two common legal agreements used in residential real estate transactions in Virginia. A Listing Agreement is a contract between the homeowner (seller) and the real estate agent or broker that represents the seller. The contract outlines what actions and services the agent will provide for the seller in order to list and market the property for sale in exchange for a commission or fee. A Buyer Representation Agreement is a contract between the homebuyer and the real estate agent responsible for finding and showing the buyer available properties that match their search criteria. It also outlines what services the agent will provide in exchange for a commission or fee. The primary difference is that the Listing Agreement is between the homeowner and the agent representing them, while the Buyer Representation Agreement is between the buyer and the agent representing them. Both agreements are necessary if a successful home purchase is to occur.

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What is the difference between a Listing Agreement and a Buyer Representation Agreement?

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