When it comes to buying a home in Virginia, buyers don't have to worry about paying real estate agent fees. On average, the buyer's agent commission is 2.66%, and it is paid by the seller as part of the sales proceeds. However, buyers may be eligible to receive a refund for their homebuying expenses. A refund can put money back in your pocket after purchasing a home.
In Virginia, home sellers are responsible for paying real estate fees with the proceeds from the final sale for both agents involved in a deal. Offering to pay the buying agent's commission is an incentive for agents to show their home to potential buyers. In this digital age of “do it yourself”, both sellers and homebuyers may be wondering if they need real estate agents or, more precisely, if they need to pay real estate agent fees.