How does realtor commission work in Hampton Roads after the 2024–2025 rule changes?
After the 2024 NAR settlement took effect, Hampton Roads sellers are no longer required to offer buyer-agent compensation through the MLS. All broker fees are fully negotiable, there is no standard, typical, or fixed rate. Buyers must now sign a written representation agreement with their agent before touring homes, and any compensation a seller chooses to offer a buyer's agent is optional and separately negotiated outside the MLS.
If you're a seller or buyer in Great Neck, Alanton, or anywhere in Virginia Beach and Chesapeake right now, the commission landscape looks meaningfully different than it did two years ago. Here's what actually changed, what it means for your transaction, and how to think about it going into a negotiation.
What the NAR Settlement Actually Changed
The 2024 NAR settlement resolved a series of antitrust lawsuits that challenged how buyer-agent compensation had traditionally been structured. The practical result, which took effect in August 2024, was a set of rule changes that every MLS in the country, including the Real Estate Information Network (REIN), the MLS that serves Hampton Roads, was required to implement.
Two changes matter most for local buyers and sellers.
Offers of compensation can no longer be listed in the MLS
Before the settlement, it was common practice for a listing to include an offer of buyer-agent compensation directly in the MLS data field. That field is gone. Sellers can still choose to offer compensation to a buyer's agent, that hasn't been made illegal, but it has to happen outside the MLS, typically as a term negotiated in the purchase contract or a separate agreement.
What this means practically: if you're a seller in Great Neck Point and you want to offer compensation to attract buyers who are working with agents, that conversation happens at the offer table, not in the listing itself.
Buyers must sign a written agreement before touring
Under the new rules, buyer's agents are required to have a signed written buyer representation agreement in place before showing a home. The Virginia REALTORS® association updated its standard forms to reflect this requirement. That agreement spells out what the buyer's agent will be paid, and by whom.
This is actually a good development for buyers who take the time to read it. You'll know upfront what your agent expects to be compensated, and you can negotiate those terms before you're emotionally invested in a property.
What This Means If You're Selling in Hampton Roads
Let me be direct about something I hear from sellers constantly: the rule change does not mean you automatically pay less. It means the structure is more transparent and more negotiable. Those are different things.
Here's the strategic reality.
Your listing-side fee is set in your listing agreement
The compensation you agree to pay your listing agent is negotiated when you sign the listing agreement. It is not set by law, not set by the MLS, and not standardized across brokerages. What you pay is what you agree to, full stop. This was true before the settlement and remains true today.
Buyer-agent compensation is now a separate decision
This is the real shift. You used to bundle both sides of compensation into one number at listing time. Now, any offer to compensate a buyer's agent is a separate, optional decision you make as a seller.
Should you offer it? That depends on your market, your price point, and your goals. In a competitive segment, say, a well-positioned waterfront property in Alanton or Bay Island, offering buyer-agent compensation can expand your buyer pool and reduce friction at the offer stage. In a segment where buyers are well-capitalized and motivated, you may have more flexibility. This is exactly the kind of strategic conversation I have with every seller before we go to market. The right answer is specific to your property and the current demand picture, not a blanket rule.
Buyers may ask you to cover their agent's fee in the offer
Even if you don't advertise buyer-agent compensation upfront, a buyer can write a request for seller-paid buyer-agent compensation into their purchase offer as a concession. You can accept it, counter it, or decline it. It's a negotiating point like any other. According to NAR's most recent Profile of Home Buyers and Sellers, the majority of buyers still work with a buyer's agent, so this is a conversation that will come up in most transactions.
| What Changed in August 2024 | What Did NOT Change |
|---|---|
| Buyer-agent compensation can no longer be offered in the MLS listing | Sellers can still choose to offer buyer-agent compensation, it's just negotiated outside the MLS |
| Buyers must sign a written representation agreement before touring homes | All broker fees remain fully negotiable, no rate is set by law or industry rule |
| Buyer's agent compensation terms must be disclosed in writing upfront | Listing-side compensation is still agreed in the listing agreement between seller and listing agent |
| MLS compensation data fields have been removed from REIN and all NAR-affiliated MLSs | Buyers can still ask sellers to cover buyer-agent fees as a contract concession |
How to Approach Commission Negotiation Now
The most important thing I tell sellers who come to me asking about commission is this: the conversation has shifted from "what's the rate" to "what's the strategy." That's a better conversation to be having.
For sellers
When you're interviewing listing agents, ask them to walk you through their specific value proposition, not just a rate. Understand what marketing, pricing strategy, and negotiation support you're getting. The Consumer Financial Protection Bureau recommends that buyers and sellers understand all costs before signing any agreement, and the same principle applies here: read the listing agreement carefully, ask questions, and negotiate terms that reflect the service you're receiving.
Also think through your buyer-agent compensation strategy before you list, not after you receive an offer. Having a clear position going in reduces stress and speeds up negotiations when the time comes.
For buyers
Before you tour a single home, you'll sign a buyer representation agreement. Read it. Understand what your agent is asking to be paid and under what circumstances. The CFPB has published guidance specifically on buyer-agent compensation following the settlement changes, it's worth a few minutes of your time. If a seller isn't offering to cover your agent's fee, you'll need to either negotiate it into the offer or pay it separately. Factor that into your budget planning with your lender.
Virginia law requires that buyers receive the Virginia Residential Property Disclosure Act disclosures, and your representation agreement should clearly outline your agent's duties to you under Virginia agency law (Title 54.1, Chapter 21 of the Virginia Code). If your agent can't explain both of those clearly, that's a signal worth paying attention to.
Every situation is different, and the only way to know what makes sense for your specific transaction is to run through the details with someone who knows this market. That's what a pre-listing or pre-offer consultation is for.
Frequently Asked Questions
Do I have to pay the buyer's agent commission as a seller in Virginia?
No. Since the August 2024 MLS rule changes stemming from the NAR settlement, Virginia sellers are not required to offer buyer-agent compensation. You may choose to offer it as a way to attract buyers and reduce friction in negotiations, but it is entirely optional and separately negotiated outside the MLS. A buyer can also request seller-paid compensation as a concession in their purchase offer.
What is a buyer representation agreement and do I have to sign one in Virginia?
A buyer representation agreement is a written contract between you and your buyer's agent that outlines the scope of their services and how they will be compensated. Under the post-settlement MLS rules now in effect across Virginia, agents are required to have this agreement signed before showing you homes. Read it carefully, it specifies what you've agreed to pay, under what conditions, and for how long the agreement lasts.
Are realtor commissions negotiable in Hampton Roads?
Yes, fully. There is no standard, typical, or fixed commission rate in Hampton Roads or anywhere in Virginia. Broker fees are set by agreement between you and your agent in the listing agreement or buyer representation agreement. The 2024 NAR settlement reinforced this, commissions have always been negotiable, and the new rules make that clearer than ever. What you pay should reflect the specific services, strategy, and market expertise you're receiving.
Can a buyer ask the seller to pay their agent's fee in Virginia?
Yes. Even though sellers are no longer required to advertise buyer-agent compensation in the MLS, a buyer can include a request for seller-paid buyer-agent compensation as a concession in their purchase offer. The seller can accept it, counter it, or decline it like any other offer term. In competitive segments of the Hampton Roads market, how this is handled can affect whether an offer stands out or gets passed over.
How does the Hampton Roads MLS (REIN) handle compensation now?
The Real Estate Information Network (REIN), which serves Hampton Roads, removed buyer-agent compensation data fields from its MLS listings in August 2024 in compliance with the NAR settlement requirements. Compensation offers, if any, are now handled outside the MLS, typically in the purchase contract or through a separate written agreement between the parties. REIN's member rules align with the national policy changes that took effect that month.
The commission landscape in Hampton Roads has changed, but the fundamentals of a well-represented transaction haven't. What you pay, and to whom, is negotiable, and the agent you choose to represent you should be able to explain their value clearly, price your home strategically, and guide you through these newer compensation conversations without confusion.
If you're thinking about selling in Great Neck, Alanton, Broad Bay Point Greens, or anywhere along the Virginia Beach coast, I'd welcome the chance to walk you through what the current market looks like and what a listing strategy built around your specific goals would involve. Call me directly at 757-502-5077, or download the Great Neck Insider Report for a closer look at what's happening in these neighborhoods right now.
Equal Housing Opportunity. Andrew Christie, Virginia Real Estate License #0225199734, licensed by the Virginia Department of Professional and Occupational Regulation (DPOR). Brokerage: Atlantic Sotheby's International Realty. This article is general information only and does not constitute legal, tax, or financial advice. Confirm all costs, compensation terms, and contract details with your attorney, tax advisor, lender, or closing officer.