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. This refund can put money back in your pocket after you purchase a home.
In Virginia, home sellers are responsible for paying real estate fees with the proceeds from the final sale. This includes both agents involved in the 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 buyers may be wondering if they need real estate agents or, more precisely, if they need to pay real estate agent fees.