FYI, you should never sign a buyer broker agreement that last for more than 30 days and the limit for making an offer on someplace you may have seen should never be more than 14 days.Agents who want long term commitments of 3,6 or even 12 months and who write in "protection periods" any longer than 7-14 days are simply trying to trap their clients. I do more business than 95% of all Realtors in the state of NC, my Buyer broker agreement is typically 2 weeks long and my protection period 7 days. I don't need to trap anyone. I either earn their loyalty or I don't deserve their business.
I've never lost a buyer in nearly 25 years, though I've fired several over the years for various reasons. Real Estate is a service industry,. and Realtors need to realize this. We earn our clients loyalty and business by the manner in which we conduct ourselves and by impressing them with our experience and knowledge, If you do these things you don't have to worry about a long contract and your clients will appreciate your confidence. I don't expect my buyers to necessarily purchae a home in two weeks, but our Buyer Broker Agreements are easily exteneded
If you are unhappy with your current agent, you should try to work it out with them. If you want to terminate your agency agreement and you cannot work it out with them, you should also talk to an attorney for advise and interpretation of the agreement. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
your interpretation of the exclusive buyer's agency agreement is a little off. When you signed that you stipulated on there that you would work exclusively with that particular Realtor to help you find a home. It will state where you are looking for a home. For example, it may say Mecklenburg county or Charlotte and surrounding areas. It depends on how it is written. Also there is a timeframe attached to it. Usually most Realtors put 6 months. I personally think it is to long. I tend to do mine for a shorter period of time. In addition after that time period is up there is a clause in there for a certain amount of days afterwards where if you buy a house that Realtor showed you in that specified time period then you will have to pay that Realtor a commission in addition to the one that the seller si paying the buyer's agent.
A Realtor will ask you if you are working with another Realtor and we cannot solicit your business if you are under an agreement with another Realtor. It violates our ethics and agency laws. We can refer you back to that Realtor.
If you are unhappy with the current Realtor you have you have some options....You can terminate the agreement with the current Realtor you have then feel free to interview and decide on another Realtor. If the Realtor will not let you out then talk to their Broker In Charge. Most Realtors who are ethical and realize there may be a conflict in personality will let you out of the agreement.
If you are not comfortable signing a buyer's agency form then do not. However; be warned if you put an offer in on a house the Realtor will ask you to sign one. This way they are representing your best interests and not the sellers.
That is a long story and more information than I can write here....But I never ask for a buyers agency until you are ready to put an offer in and then I make the time frame a little past the closing date of the contract we are writing. it gives me a window if we do not meet the date for whatever reason and protects you while we are negotiating an offer.
Coldwell Banker United
First of all, I am sorry that the agent didn't meet your expectations. I would ask for termination of the agreement, in writing. Feel free to ask another agent or agents that you are talking to....what you want and if they are able to service your needs. A full-time agent is a good start and then their experience in the Real Estate business. Let 28+ years experience work for YOU! I would like the opportunity to talk to you and see if we are a good fit.
Thanks for your great question.
Yes, you need to terminate the buyers agency agreement in writing. If you purchase any property that they have shown you, they will be due whatever commission rate is associated with that property. Otherwise, you are free to hire another realtor to help you purchase a home. I would suggest an interview process to help you decide what agent is best suited to work with you. I would also be very clear in the interview process to discuss your expectations and top qualities that
you desire from your realtor, quick response time, after hours availability, communication, how often you would like to be communicated with, and how?
I have found that doing a little work ahead of time with clients can help alleviate a lot of challenges before they can ever become issues. Feel free to contact me if you have any further questions.