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Rookiebuyer, Home Buyer in Portsmouth, NH

Exclusive Buyer Agency Agreement in NH. Can they be broken?

Asked by Rookiebuyer, Portsmouth, NH Wed Jun 3, 2009

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?

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Answers

5
Tell your Realtor why you're not satisfied. It may just be a misunderstanding. And, don't worry about hurting their feelings . . . we're not that sensitive (most of us).
0 votes Thank Flag Link Fri Feb 15, 2013
Is your agent an exclusive buyers agent? that is, does he not represent sellers (like the developer). If he is an Exclusive buyer's agent and does not represent sellers than he should not be helping the developer at all. In most states the agreement is an employment contract (the agent was hired by you can be fired by you). You might consult a real estate attorney before you take any action. Rick John, licensed broker in NH, instructor of real estate in VT & NH, formerly ABR and ABR instructor for REBAC-Accredited buyer's agents.
0 votes Thank Flag Link Thu Oct 18, 2012
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.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Jun 9, 2009
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!
0 votes Thank Flag Link Wed Jun 3, 2009
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!!
0 votes Thank Flag Link Wed Jun 3, 2009
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