Home Buying in 07030>Question Details

Calgary, Home Buyer in 07030

Is my wife bound to the exclusive buyers agency agreement that I signed with a realtor.?

Asked by Calgary, 07030 Wed Mar 23, 2011

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13
Hi Calgary,

It would appear to be that yes, she would. If you end up buying a property with both yours and her name is on it.... and you made the *mistake* of signing an exclusive buyers agency agreement.. she is in too... and that agent would be due a commission on what you buy.

I am curious, how was it presented to you to sign such a document? When was it presented? Why do you want out of the contract? What is the duration of the contract?

Everyone always states.. oh, call the Realtor and ask them to release you.. you can get out of the contract.. if it was so easy, why would the Realtor ask you to sign one? The reason for the Realtor to hold you to the contract agreement is so that Realtor gets paid.

For me, I would never ask for a document like that signed. Period. You want to work with me.. you will. I am positive that I will win your confidence and loyalty. If your Realtor asks you to sign that.. say thank you and go find another Realtor.

Let us know how it works out for you.
3 votes Thank Flag Link Wed Mar 23, 2011
Unlikely, although you may have to pay that agent a commission if you and your wife decide to buy a home.
1 vote Thank Flag Link Wed Mar 23, 2011
You really need to read what you signed.If it is an exclusive buyers agency agreement it should have a specified start & end date to it. Preferably also be only for properties that the agent showed you. If you are buying jointly with your wife the agent probably would be entitled to a commission on properties that they showed you. If you signed the agreement and you have not been actively working with that agent then I'd suggest as mentioned earlier that you speak to the manager about it & get assigned to a different agent that is more proactive on your behalf. However, it is good practice to work with just one agent at a time.
0 votes Thank Flag Link Thu Dec 1, 2011
Not unless you untie her and tell the agent to go black mail someone else.
0 votes Thank Flag Link Wed Nov 30, 2011
Yes you are bound, unless there is some release clause somewhere in the agreement. However, speak to the agent, explain why you want to terminate the agreement (nicely) and it's probably not going to be a big deal honestly. I work as a buyer's agent and I would not have a problem with that request; it's not the end of the world. Good luck.
0 votes Thank Flag Link Tue Nov 1, 2011
Hi Calgary, talk to the broker/manager if you want out of the agreement. If they object - then demand that it be ONLY for properties shown. Agents are encouraged to get buyers to sign this agreement - and while it is a good way to confirm an understanding that you are working together on the table so that both parties know their time is well spent, I believe that that relationship must be earned. Rushing the signing of that document feels a little like entrapment to me. I like to introduce it, then earn it, and I find that when I've done that, there is hardly a reason to go through the formality of signing it. I explain it as a confirmation of the "gentleman's agreement" we have to work together, an agreement - and relationship - that I have earned.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Sat Mar 26, 2011
Without knowing the terms of your contract its impossible to say. Talk to the agent and/or his/her manager and explain your concerns. If you act in good faith they probably will also.
0 votes Thank Flag Link Wed Mar 23, 2011
As Realtors we cant give legal advice. For that you would have to ask an attorney. I suggest you read the agreement and see if it details how you can terminate if that is your desire. I am uncertain as was stated that one spouse can bind another without their knowledge or consent. Again consult attorney.
0 votes Thank Flag Link Wed Mar 23, 2011
I would have to think she is if you were going to buy a home together. If you are separating, and buying two separate homes, I would assume she is not. If you are that dissatisfied with your realtor, ask for a meeting with your realtor and their broker. If the situation is beyond repair there should be no reason for them to hold you to the agreement. It can get complicated if you plan to buy one of the homes that your realtor has already shown you.
0 votes Thank Flag Link Wed Mar 23, 2011
Yes. In the State of NJ most real estate contracts or agreements a spouse enters into also binds the other spouse. However, you may want to have an attorney review it for certainty. Not all buyer's agency agreements are the same. More importantly, if you're unsatisfied with the service the agent is providing you with, you should be able to cancel the agreement. Our version of the BA agreement at Halliburton Homes has an out clause in case the client isn't fully satisfied - for example. We've never had this issue come up, however ;-). Also in our version, when a spouse, relative, or other person you're buying a home with enters into the BA agreement, it binds the other person automatically.

Feel free to reach out to me with further questions on this subject. I specialize in buyer representation and have plenty of experience with BA agreements.

Either way, good luck.

Best regards,

Eric J.
646.387.8012
eric@halliburtonhomes.com
0 votes Thank Flag Link Wed Mar 23, 2011
why would you ask that? if the agent is not doing a good job for you ask for a release..most agenmts would release you.. if they are really doing a bad job and they wont release you..then speak to thier broker..

but before you do that explain to the agent first you no longer want to work with them... and why!
0 votes Thank Flag Link Wed Mar 23, 2011
Hello Calgary. If you signed an exclusive buyers agency agreement then yes you are bound to the terms.
If you are in a scenario where you are unhappy for good reasons to not work with this realtor, then I would suggest you contact his or her brokerage. Perhaps they could all agree to assign you to another real estate professional, but that is not guaranteed, as a contract is a contract.
Sorry but hope that helps!
0 votes Thank Flag Link Wed Mar 23, 2011
For the period of time that you signed it for, YES.
0 votes Thank Flag Link Wed Mar 23, 2011
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