77924854.1-2137Virginia Decodedhttps://vacode.org2016Professions And OccupationsProfessions And Occupations Regulated By The Department Of Professional And Occupational Regulation And Boards Within The DepartmentReal Estate Brokers, Sales Persons And Rental Location AgentsDuties Of Real Estate Brokers And SalespersonsCommencement and termination of brokerage relationships1995, cc. 741, 813; 2011, c. 461; 2012, c. 750.http://law.lis.virginia.gov/vacode/54.1-2137//54.1-2137/54.1/II/21/3/54.1-213754.1-2139.0154.1-2139.1The brokerage relationships set forth in this article shall commence at the time that a client engages a licensee and shall continue until (i) completion of performance in accordance with the brokerage agreement or (ii) the earlier of (a) any date of expiration agreed upon by the parties as part of the brokerage agreement or in any amendments thereto, (b) any mutually agreed upon termination of the brokerage agreement, (c) a default by any party under the terms of the brokerage agreement, or (d) a termination as set forth in subsection F of § 54.1-2139.sectionAA1Brokerage agreements shall be in writing and shall:sectionBB1 Have a definite termination date; however, if a brokerage agreement does not specify a definite termination date, the brokerage agreement shall terminate 90 days after the date of the brokerage agreement;sectionB1B12 State the amount of the brokerage fees and how and when such fees are to be paid;sectionB2B22 State the services to be rendered by the licensee;sectionB3B32 Include such other terms of the brokerage relationship as have been agreed to by the client and the licensee; andsectionB4B42Except as otherwise agreed to in writing, a licensee owes no further duties to a client after termination, expiration, or completion of performance of the brokerage agreement, except to (i) account for all moneys and property relating to the brokerage relationship and (ii) keep confidential all personal and financial information received from the client during the course of the brokerage relationship and any other information that the client requests during the brokerage relationship be maintained confidential, unless otherwise provided by law or the client consents in writing to the release of such information.sectionCC1