Hello. I live in New Hamshire and have been working with a buyers rep agent for about 8 months. We were inactively looking (keeping an eye on new listings), however recently we accelerated our efforts and want to buy very soon. In a recent meeting and process with a builder of a development in the area, we were extremely unsatisfied with our realtor, feeling he was working more for the builder than us. I have an "Exclusive Buyer Agency Agreement" with him for about the next 5 months. If we have not made any offers and do not have any offers outstanding on properties, can we break the agreement?
You can always ask for a release of any contract, the keys are will they let you out and did they introduce you to this property where you met the builder. If not, You will need to put your request in writing. You should know that especially with new construction, you will want a buyer broker who is experienced in new construction to assist you with buying new construction. There is alot more issues with walk throughs, warranty issues and punch lists that you will need someone on your side. Good luck with your search.
Oh, that's a hard one. I wish you hadn't signed a contract for that long. Personally I have clients sign a buyer/seller contract for 3 months and at any time they can get out of the contract if they are not happy. Because you have a contract with one agent and if you bought a property with another agent that first agent could try to get some of that commission. I think you should talk to your agent and explain your feelings. She may try to work harder for you or she may let you out of the contract. Good luck!
Depending on the terms of the agreement, you may be able to withdraw or 'cancel" the agreement as long as the agent agrees to release you. Before you do that though, if you have been satisfied with the agents representation of you up until the meeting with the builder, I would make sure that you have voiced your extreme dissatisfaction of how the meeting went and let your agent know how you felt and why. If the agent isn't aware that you weren't satisfied or felt his loyalties were misplaced during the meeting, your agent cannot correct his actions/behaviors. Sometimes pointing these things out (ie communication) goes along ways.... Good luck, I hope everything works out and you find your dream home!!
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