The National Association of REALTORS® (NAR) and NEFAR are proud to support those who serve our country on their journey to achieve the American Dream of homeownership. Veterans and active service members often have unique needs when buying a home. Here’s what you should know when purchasing in Duval, Clay, St. Johns, Nassau, Putnam, or Baker Counties:
Can I use my VA Home Loan benefit and still pay for an agent?
Yes. As of August 10, 2024, the Department of Veterans Affairs (VA) allows VA home loan buyers to pay for real estate representation. This policy, strongly advocated for by NAR, ensures veterans don’t miss out on professional guidance.
Why do I need to sign a written agreement?
If you are working with a REALTOR who is subject to NAR’s practice changes, you will generally need to enter into a written buyer agreement before touring a home.
These agreements are:
- Clearly outline the services your REALTOR® will provide.
- Define compensation (all terms are fully negotiable).
- Ensure transparency before you tour homes, whether in person (e.g., a property in St. Augustine) or virtually.
How does my buyer’s agent get paid?
Payment options vary and are defined in your written agreement. Common methods include:
- The seller or listing broker offering to cover your agent’s fee.
- Negotiating for the seller to pay as part of your purchase offer.
- Paying your REALTOR directly, if agreed upon.
How is NAR supporting veterans’ access to financing?
NAR, and locally, NEFAR, advocate for strong VA loan programs. This includes:
- Supporting the VA Home Loan Guaranty program (over 29 million loans to date).
- Supporting improvements to the VA appraisal process, which can help reduce delays and make it easier for Veterans to compete in today’s housing market.
- Advocating for loan assumption rights, so buyers can take over favorable VA interest rates.
Why work with a REALTOR®?
- REALTORS are bound by the Code of Ethics to act in your best interest.
- Many Northeast Florida REALTORS hold the Military Relocation Professional (MRP) certification, giving them specialized knowledge of VA benefits and relocation needs.
You can search for MRP-certified REALTORS at https://mrp.realtor/.
With Naval Station Mayport, NAS Jacksonville, and Camp Blanding nearby, Northeast Florida has a strong military presence. Whether you’re an active-duty servicemember, veteran, or military family member, written agreements and VA loan benefits are tools to help secure your home with confidence.
For more information, visit facts.realtor.
