A property portal published a “touring agreement” form accessible to consumers intended for buyers connected through its lead generation platform. We want our participants and subscribers to be informed if a prospective buyer presents this form to them.
CVR MLS legal counsel does not recommend the use of this touring agreement form in Virginia because it is inconsistent with Virginia law and does not protect our participants and subscribers. Here’s why:
- Virginia requires a signed buyer brokerage agreement upon having a "substantive conversation" with a buyer client.
- A touring agreement is not a replacement for a buyer brokerage agreement.
- This form does not create an agency relationship. In fact, the touring agreement specifically states that the buyer is not a client of the agent.
- This touring agreement explicitly states that the buyer’s agent will work for free for seven days.
CVR MLS updates our forms library continuously and will provide education and updated forms this summer in compliance with settlement requirements.
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