CODE OF VIRGINIA

DUTIES OF REAL ESTATE LICENSEES (§ 55-523)

A real estate licensee representing an owner of residential real property as the
listing broker has a duty to inform each such owner represented by that licensee
of the owner’s rights and obligations under this chapter.  A real estate
licensee representing a purchaser of residential real property or, if the
purchaser is not represented by a licensee, the real estate licensee
representing an owner of residential real estate and dealing with the purchaser
has a duty to inform each such purchaser of the purchaser’s rights and
obligations under this chapter.  Provided a real estate licensee performs those
duties, the licensee shall have no further duties to the parties to a
residential real estate transaction under this chapter, and shall not be liable
to any party to a residential real estate transaction for a violation of this
chapter or for any failure to disclose any information regarding any real
property subject to this chapter.

HISTORY: 1992, c. 717.