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SB 1309

Real estate brokers and salespersons; duties, licensees engaged by buyers.

2025 Regular Session Introduced by Jeremy McPike

SB 1309 clarifies Virginia real estate broker duties to buyers, establishing specific fiduciary obligations and disclosure requirements effective July 1, 2025.

Acts of Assembly Chapter text (CHAP0495)
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Bill Summary · SB 1309

Legislative bill overview

SB 1309 modifies Virginia law governing the duties and responsibilities of real estate brokers and salespersons who are engaged by buyers in property transactions. The bill clarifies fiduciary obligations and establishes specific disclosure requirements for licensees representing buyers, effective July 1, 2025.

Why is this important

Real estate transactions are among the largest financial decisions consumers make, and unclear broker duties can lead to disputes and financial harm. This clarification establishes explicit legal standards that protect buyers while defining what brokers must disclose, potentially reducing litigation and creating more transparent transactions across Virginia's real estate market.

Potential points of contention

  • Broker compliance costs: Expanded disclosure requirements may increase operational burdens and liability insurance costs for smaller brokerages, potentially affecting service pricing
  • Fiduciary scope definition: The specific scope of buyer-agent fiduciary duties may create disputes over what constitutes a breach, particularly regarding market information and negotiation strategies
  • Dual agency conflicts: The bill's treatment of situations where brokers represent both buyers and sellers in the same transaction could create ambiguity about competing loyalties and disclosure obligations

Compiled from official sources — confirm details with the bill’s official record.

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