                                 CODE OF VIRGINIA

DISCLOSURE OF BROKERAGE RELATIONSHIP IN RESIDENTIAL REAL ESTATE TRANSACTIONS (§
54.1-2138)

A. Upon having a substantive discussion about a specific property or properties
in a residential real estate transaction with an actual or prospective buyer or
seller who is not the client of the licensee and who is not represented by
another licensee, a licensee shall disclose any broker relationship the licensee
has with another party to the transaction. Further, except as provided in &#xA7;
54.1-2139 or 54.1-2139.1, such disclosure shall be made in writing at the
earliest practical time, but in no event later than the time when specific real
estate assistance is first provided. Such disclosure may be given in combination
with other disclosures or provided with other information, but if so, the
disclosure must be conspicuous, printed in bold lettering, all capitals,
underlined, or within a separate box. Any disclosure which complies
substantially in effect with the following shall be deemed in compliance with
this disclosure requirement:
			DISCLOSURE OF BROKERAGE RELATIONSHIP IN A RESIDENTIAL REAL ESTATE TRANSACTION
			The undersigned do hereby acknowledge disclosure that:
			The licensee&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#x2026; (name
of broker or salesperson) associated
with&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.&#x2026;(Name of
Brokerage Firm) represents the following party in a residential real estate
transaction:
			&#8230;.&#x2026; Seller(s)         or   &#8230;.&#x2026; Buyer(s)
			&#8230;.&#x2026; Landlord(s)   or   &#8230;.&#x2026; Tenant(s)
			&#8230;&#8230;&#8230;&#8230;&#8230;.&#x2026;                
&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..&#x2026;
			Date                                Name
			&#8230;&#8230;&#8230;&#8230;&#8230;.&#x2026;               
&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..&#x2026;
			Date                               Name

B. A licensee shall disclose to an actual or prospective landlord or tenant, who
is not the client of the licensee and who is not represented by another
licensee, that the licensee has a brokerage relationship with another party or
parties to the transaction. Such disclosure shall be in writing and included in
all applications for lease or in the lease itself, whichever occurs first. If
the terms of the lease do not provide for such disclosure, disclosure shall be
made in writing no later than the signing of the lease. Such disclosure
requirement shall not apply to lessors or lessees in single or multifamily
residential units for lease terms of less than two months.

C. If a licensee&#8217;s relationship to a client or customer changes, the
licensee shall disclose that fact in writing to all clients and customers
already involved in the specific contemplated transaction.

D. Copies of any disclosures relative to fully executed purchase contracts shall
be kept by the licensee for a period of three years as proof of having made such
disclosure, whether or not such disclosure is acknowledged in writing by the
party to whom such disclosure was shown or given.

E. A limited service agent shall also make the disclosure required by &#xA7;
54.1-2138.1.

HISTORY: 1995, cc. 741, 813; 1997, cc. 86, 119; 2006, c. 627; 2012, c. 750;
2016, c. 334.