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A Pothole for Virginia Home Buyers

July 27, 2012 By Doug Francis

Every year I get involved in a few real estate transactions where the agent on the other side of the transaction is doing “limited” work.  It is perfectly legal to be a Limited-Services Agent in Virginia, but home buyers should understand what this means for their buyer agent… at least from my perspective.

Pothole - Lansdowne Road

Pothole Flickr Photo: Alan Stanton

When I started as a real estate agent in the early 1990’s there where plenty of  Limited-Services firms that collected a fee upfront and had the home seller send in a description. In return, the listing was put into the MLS with a comment to “deal with the owner and do not call the agent“, they were given a yard sign and a Realtor lockbox. These days they upload photos and post to Realtor.com too.

The real twist comes when you (the buyer client) decide to put in an offer on their property. Most times the seller still believes that any agent walking in the front door is on “their team” to make the deal happen and earn a juicy commission, but that really isn’t the case at all. The confusion created by this presumption prompted the Commonwealth of Virginia to revise the Code in 2012 requiring written buyer representation agreements that outline a basic job description including how their agent gets paid and what jobs they are to perform.

Here is the problem: home sellers still believe that they “own the agent”

How do you protect yourself?

The recommended way is to have a written agreement with your agent that states what they are going to do for you. You know, like a job description.

The Realtor Association does have a standard form that outlines confidentiality, basic duties, compensation, the purpose (buy a home), a fair housing disclosure, and important buyer responsibilities. These agreements always have a set time frame which may be one day or a hundred days… whatever works for you.

My point is this: you really do need to understand that your real estate agent is representing your interests in the transaction especially in Limited Agency situations. If your agent is meeting with the seller at the kitchen table to review all 24 pages of the standard Northern Virginia real estate contract, and probably explaining every paragraph, then you can picture why having a professional relationship is essential. Yes, they are doing practically double duty! The pothole which might slow things down is that the seller does not have a professional to consult with especially when trying to make a counter offer. Negotiation is a skill that most people need help with.

My experience in these matters is that a fine-line has to be drawn at that kitchen table from minute one.

  • establishing a timeline for a response
  • explaining contingency periods for home inspections or appraisals
  • managing the transaction workflow with lenders and settlement companies
  • communicating expectations of all parties

Negotiating on a home is complicated because there are so many variables, and Virginia home buyers should know that their buyer agent is working to promote their interests when negotiating on a home.

Read more on the blog in the Buyer Tips section.

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Filed Under: Blog, Home Buyer Tips Tagged With: buyer agent, Northern Virginia, real estate

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In-depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" global ad campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna (#3!). He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

When we bought our house, we were thinking about raising the kids, updating, and building an addition. With our kids now out of college, our plans are looking at our next phase, especially after seeing friends move away and adjust their lifestyles.

So, what’s next after 25 years? It’s a conversation lots of my clients are having with me as they plan to move to the beach, travel, or move closer to grandkids. Helping them see their future, sell their current home, and move ahead to their new plan has been an interesting new chapter.

My background… I am an active licensed agent in Virginia, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let me help you too: Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

6808 BROYHILL ST
MCLEAN, VA
Photo of 6808 BROYHILL ST, MCLEAN, VA 22101 (MLS # VAFX2137956)
$2,499,000
49
  • Lot Size
    16,989 sqft

  • Home Size
    6,708 sqft

  • Beds
    6 Beds

  • Baths
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102 JAMES DR SE
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Photo of 102 JAMES DR SE, VIENNA, VA 22180 (MLS # VAFX2150256)
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2511 BABCOCK RD
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Photo of 2511 BABCOCK RD, VIENNA, VA 22181 (MLS # VAFX2149442)
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8807 HIGDON DR
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Photo of 8807 HIGDON DR, VIENNA, VA 22182 (MLS # VAFX2149464)
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610 MEADOW LN SW
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Photo of 610 MEADOW LN SW, VIENNA, VA 22180 (MLS # VAFX2149952)
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626 HILLCREST DR SW
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Photo of 626 HILLCREST DR SW, VIENNA, VA 22180 (MLS # VAFX2149036)
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904 DALE CT SE
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Photo of 904 DALE CT SE, VIENNA, VA 22180 (MLS # VAFX2149540)
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9838 CORAL BELLS CT
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Photo of 9838 CORAL BELLS CT, VIENNA, VA 22182 (MLS # VAFX2149568)
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10009 MURNANE ST
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Photo of 10009 MURNANE ST, VIENNA, VA 22181 (MLS # VAFX2149646)
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131 KINGSLEY RD SW
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Photo of 131 KINGSLEY RD SW, VIENNA, VA 22180 (MLS # VAFX2149584)
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Photo of 3005 SPICE CT, VIENNA, VA 22181 (MLS # VAFX2148724)
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  • 102 JAMES DR SE
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    Photo of 102 JAMES DR SE, VIENNA, VA 22180 (MLS # VAFX2150256)
    $2,199,888
    Lot Size
    10,019 sqft

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    Baths
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  • 2511 BABCOCK RD
    VIENNA, VA
    Photo of 2511 BABCOCK RD, VIENNA, VA 22181 (MLS # VAFX2149442)
    $1,295,000
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    14,811 sqft

    Home Size
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  • 8807 HIGDON DR
    VIENNA, VA
    Photo of 8807 HIGDON DR, VIENNA, VA 22182 (MLS # VAFX2149464)
    $1,088,888
    Lot Size
    10,455 sqft

    Home Size
    2,410 sqft

    Beds
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    Baths
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  • 610 MEADOW LN SW
    VIENNA, VA
    Photo of 610 MEADOW LN SW, VIENNA, VA 22180 (MLS # VAFX2149952)
    $1,495,000
    Lot Size
    N/A

    Home Size
    3,368 sqft

    Beds
    6 Beds

    Baths
    6 Baths

  • 626 HILLCREST DR SW
    VIENNA, VA
    Photo of 626 HILLCREST DR SW, VIENNA, VA 22180 (MLS # VAFX2149036)
    $3,600,000
    Lot Size
    23,523 sqft

    Home Size
    9,092 sqft

    Beds
    7 Beds

    Baths
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  • 904 DALE CT SE
    VIENNA, VA
    Photo of 904 DALE CT SE, VIENNA, VA 22180 (MLS # VAFX2149540)
    $1,795,000
    Lot Size
    10,455 sqft

    Home Size
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    Baths
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  • 9838 CORAL BELLS CT
    VIENNA, VA
    Photo of 9838 CORAL BELLS CT, VIENNA, VA 22182 (MLS # VAFX2149568)
    $1,200,000
    Lot Size
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    Home Size
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    Beds
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  • 10009 MURNANE ST
    VIENNA, VA
    Photo of 10009 MURNANE ST, VIENNA, VA 22181 (MLS # VAFX2149646)
    $3,300,000
    Lot Size
    21,780 sqft

    Home Size
    9,750 sqft

    Beds
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    Baths
    9 Baths

  • 131 KINGSLEY RD SW
    VIENNA, VA
    Photo of 131 KINGSLEY RD SW, VIENNA, VA 22180 (MLS # VAFX2149584)
    $2,525,000
    Lot Size
    21,780 sqft

    Home Size
    7,793 sqft

    Beds
    6 Beds

    Baths
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  • 3005 SPICE CT
    VIENNA, VA
    Photo of 3005 SPICE CT, VIENNA, VA 22181 (MLS # VAFX2148724)
    $599,000
    Lot Size
    1,307 sqft

    Home Size
    1,940 sqft

    Beds
    5 Beds

    Baths
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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for Fall 2023 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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