                                 CODE OF VIRGINIA

DEFINITIONS (§ 54.1-2130)

As used in this article:
		&#8220;Agency&#8221; means every relationship in which a real estate licensee
acts for or represents a person as an agent by such person&#8217;s express
authority in a commercial or residential real estate transaction, unless a
different legal relationship is intended and is agreed to as part of the
brokerage agreement. Nothing in this article shall prohibit a licensee and a
client from agreeing in writing to a brokerage relationship under which the
licensee acts as an independent contractor or which imposes on a licensee
obligations in addition to those provided in this article. If a licensee agrees
to additional obligations, however, the licensee shall be responsible for the
additional obligations agreed to with the client in the brokerage agreement. A
real estate licensee who enters into a brokerage relationship based upon a
written brokerage agreement that specifically states that the real estate
licensee is acting as an independent contractor and not as an agent shall have
the obligations agreed to by the parties in the brokerage agreement, and such
real estate licensee and its employees shall comply with the provisions of
subdivisions A 3 through 7 and subsections B and E of § 54.1-2131; subdivisions
A 4 through 8 and subsections B and E of § 54.1-2132; subdivisions A 3 through
7 and subsections B and E of § 54.1-2133; subdivisions A 4 through 8 and
subsections B and E of § 54.1-2134; and subdivisions A 2 through 6 and
subsections C and D of § 54.1-2135 but otherwise shall have no obligations
under §§ 54.1-2131 through 54.1-2135. Any real estate licensee who acts for or
represents a client in an agency relationship in a residential real estate
transaction shall either represent such client as a standard agent or a limited
service agent.
		&#8220;Agent&#8221; means a real estate licensee who is acting as (i) a
standard agent in a residential real estate transaction, (ii) a limited service
agent in a residential real estate transaction, or (iii) an agent in a
commercial real estate transaction.
		&#8220;Brokerage agreement&#8221; means the written agreement creating a
brokerage relationship between a client and a licensee. The brokerage agreement
shall state whether the real estate licensee will represent the client as an
agent or an independent contractor.
		&#8220;Brokerage relationship&#8221; means the contractual relationship
between a client and a real estate licensee who has been engaged by such client
to provide brokerage services.
		&#8220;Brokerage services&#8221; means (i) those activities described in
subsection A of § 54.1-2131, subsection A of § 54.1-2132, subsection A of §
54.1-2133, and subsection A of § 54.1-2134; (ii) activities requiring the
exercise of a licensee&#8217;s professional judgment, discretion, advice, or
counsel; or (iii) activities otherwise performed in connection with procuring a
seller, buyer, option, tenant, or landlord ready, able, and willing to sell,
buy, option, exchange, or rent real estate on behalf of the client with whom the
licensee has an executed brokerage agreement.
		&#8220;Client&#8221; means a person who has entered into a brokerage
relationship with a licensee.
		&#8220;Commercial real estate&#8221; means any real estate other than (i) real
estate containing one to four residential units or (ii) real estate classified
for assessment purposes under § 58.1-3230. Commercial real estate shall not
include single family residential units, including condominiums, townhouses,
apartments, or homes in a subdivision when leased on a unit by unit basis even
though these units may be part of a larger building or parcel of real estate
containing more than four residential units.
		&#8220;Common source information company&#8221; means any person, firm, or
corporation that is a source, compiler, or supplier of information regarding
real estate for sale or lease and other data and includes, but is not limited
to, multiple listing services.
		&#8220;Customer&#8221; means a person who has not entered into a brokerage
relationship with a licensee but for whom a licensee performs ministerial acts
in a real estate transaction. Unless a licensee enters into a brokerage
relationship with such person, it shall be presumed that such person is a
customer of the licensee rather than a client.
		&#8220;Designated agent&#8221; or &#8220;designated representative&#8221;
means a licensee who has been assigned by a principal or supervising broker to
represent a client when a different client is also represented by such principal
or broker in the same transaction. A designated representative shall only act as
an independent contractor.
		&#8220;Dual agent&#8221; or &#8220;dual representative&#8221; means a licensee
who has a brokerage relationship with both seller and buyer, or both landlord
and tenant, in the same real estate transaction. A dual agent has an agency
relationship under brokerage agreements with the clients. A dual representative
has an independent contractor relationship under brokerage agreements with the
clients. A dual representative shall only act as an independent contractor.
		&#8220;Independent contractor&#8221; means a real estate licensee who (i)
enters into a brokerage relationship based upon a brokerage agreement that
specifically states that the real estate licensee is acting as an independent
contractor and not as an agent; (ii) shall have the obligations agreed to by the
parties in the brokerage agreement; and (iii) shall comply with the provisions
of subdivisions A 3 through 7 and subsections B and E of § 54.1-2131;
subdivisions A 4 through 8 and subsections B and E of § 54.1-2132; subdivisions
A 3 through 7 and subsections B and E of § 54.1-2133; subdivisions A 4 through
8 and subsections B and E of § 54.1-2134; and subdivisions A 2 through 6 and
subsections C and D of § 54.1-2135 but otherwise shall have no obligations
under §§ 54.1-2131 through 54.1-2135.
		&#8220;Licensee&#8221; means real estate brokers and salespersons as defined
in Article 1 (§ 54.1-2100 et seq.).
		&#8220;Limited service agent&#8221; means a licensee who acts for or
represents a client in a residential real estate transaction pursuant to a
brokerage agreement that provides that the limited service agent will not
provide one or more of the duties set forth in subdivision A 2 of § 54.1-2131,
subdivision A 3 of § 54.1-2132, subdivision A 2 of § 54.1-2133, and
subdivision A 3 of § 54.1-2134. A limited service agent shall have the
obligations set out in the brokerage agreement, except that a limited service
agent shall provide the client, at the time of entering the brokerage agreement,
copies of any and all disclosures required by federal or state law, or local
disclosures expressly authorized by state law, and shall disclose to the client
the following in writing: (i) the rights and obligations of the client under the
Virginia Residential Property Disclosure Act (§ 55.1-700 et seq.); (ii) if the
client is selling a condominium, the rights and obligations of the client to
deliver to the purchasers, or to receive as purchaser, the resale certificate
required by § 55.1-2309; and (iii) if the client is selling a property subject
to the Property Owners&#8217; Association Act (§ 55.1-1800 et seq.), the rights
and obligations of the client to deliver to the purchasers, or to receive as
purchaser, the resale certificate required by § 55.1-2309.
		&#8220;Ministerial acts&#8221; means those routine acts that a licensee can
perform for a person that do not involve discretion or the exercise of the
licensee&#8217;s own judgment.
		&#8220;Property management agreement&#8221; means the written agreement
between a property manager and the owner of real estate for the management of
the real estate.
		&#8220;Residential real estate&#8221; means real property containing from one
to four residential dwelling units and the sale of lots containing one to four
residential dwelling units.
		&#8220;Showing property&#8221; means (i) taking a prospective buyer or tenant
to a property, obtaining access to such property, and taking the individual
through the property, including entering a property to provide a live, virtual
tour to a prospective buyer or tenant who is not physically present; (ii)
responding to questions or providing information about such property that is not
of public record while at the property; or (iii) otherwise providing brokerage
services while at the property.
		&#8220;Standard agent&#8221; means a licensee who acts for or represents a
client in an agency relationship in a residential real estate transaction. A
standard agent shall have the obligations as provided in this article and any
additional obligations agreed to by the parties in the brokerage agreement.

HISTORY: 1995, cc. 741, 813; 2006, c. 627; 2008, cc. 851, 871; 2011, c. 461;
2012, c. 750; 2016, c. 334; 2023, cc. 387, 388; 2025, cc. 479, 495.