Can I break an agent binder?

Asked by Shaun, Bronx, NY Fri Feb 27, 2009

This agent had me ign a binder to work with him for 3 months. Im not happy at all 2 months in and Id like to work with someone else. Im in NYC, do I have to worry about this binder?

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10
Lori Burns, Agent, Middletown, NY
Fri Feb 27, 2009
Hey Shaun,
I am assuming that what you signed is actually a Buyer Agency Contract, not a binder (an offer to purchase a specific property). If my assumption is true then what you have signed is potentially a legally binding contract. I have three suggestions for you. First, have a frank conversation with your agent. If you are not happy it is likely that he/she is not happy either! Perhaps you can solve the issue and move forward in the home buying process. If not, the agent may be willing to break the contract voluntarily. It can only help to talk to your agent first. If this doesn't solve the problem, then I would suggest that you get the advice of an attorney before moving on to avoid any issues down the road. Lastly, you could take the month off from your home search and hire a new agent when this contract expires. Good luck to you!
1 vote
Lisa Brodsky, , 10950
Fri Feb 27, 2009
Shaun,
OK, now you are tapping my knowlege..I THINK you can break it IF you sign another EXCLUSIVE AGENCY AGREEMENT with another BUYERS AGENT. The one catch would be if you buy a home that was previously shown to you while you were working with the agent that currently represent you as an exclusive buyers agent. I am NOT 100% sure, or an attorney. I CAN look into this further for you if you like...feel free to give me a call, I will ask/verify higher up to be sure for you.... 845-401-1448.

http://www.HudsonValleyNeighbors.com
1 vote
Ruth and Per…, Agent, Los Gatos, CA
Sun May 4, 2014
Hi Shaun

Thanks for the question.

It is unfortunate that you asked and he will not release you.

Right, the contract is likely binding and you will have to wait till it
Expires.

Best regards
Perry

http://www.ruthandperry.com
0 votes
Desmond Smith, Agent, Scarsdale, NY
Mon Feb 24, 2014
Please read the contract. There should be a termination agreement within. If it is an Exclusive then you cannot look for homes with another Agent, unless it states in the contract that if you sign another exclusive with another Agent. Send me a copy I'll read it and will advise you on your best course of action.
Desmond T. Smith, (A.A.S. in MARKETING)
BPOR, e-PRO, GRI, ITI, SFR, CBR, REO SPECIALIST
Licensed Real Estate Salesperson
Cell phone: (914) 774-4231

Keller Williams Realty Group
Office phone: 9147133270
Email: DesmondSmith@kwrealty.com
Website: http://DesmondSmith.kwrealty.com
Real Estate site:
"FROM THE CITY TO THE SUBURBS"
0 votes
Primford Hom…, Agent, Bronx, NY
Sun Dec 29, 2013
Hi Shaun, signing an buyers agency contract (assuming that's what you signed) is a legal contract. It means that you are to work exclusively with that agent for the term of the contract. If you decide to buy with another agent during that time, the agent with whom you have the contract is entitled to their commission and you may have problems down the road.

I would not advise you to go ahead and sign with someone else until that contract ends. It's to bad that you are not happy but I would cosign on waiting out the contract then perhaps interview several buyers agents to find one that you will be happy to work with.

All the Best.....Happy New Year!!
0 votes
Angelo Gonza…, Agent, Bronx, NY
Tue Oct 29, 2013
Shawn, Mr. Gonzalez here with your answer. As long as its none of the homes he's shown you so far and you find a home on your own or with another agents help
"YOU ARE FREE TO PURCHASE" another home with who ever you feel comfortable working with. I had a similar thing happen and the agent who they signed with after he realized his customer was not happy had no with my client and had no clue which house they purchased at the end of the day. I don't know of any real estate professionals who can justify an unhappy customer leaving their services moving forward with someone else and still feel they deserve to be paid for a service they could not provide. Happy Hunting.
I'M AVAILABLE
http://www.angelogonzalez.org
0 votes
Annette Avil…, Agent, Bronx, NY
Wed Jun 10, 2009
Hi Shaun,

I know I have signed buyer's agency contracts with clients and although I have never had to end a contract due to a party being unhappy, I always let my customers know that they can terminate the contract before hand if they feel I am not doing what I have promised them I would do. There are many things as a buyer's agent one must do to assist their client. This contract is meant to help both parties. If you truly feel the agent is not following through with what he/she said they would, I would definately speak with the broker. We have an open door policy in our office and do not wish to have anyone unhappy that we work with. I hope it works out for you and feel free to contact me should you have any other questions. Good Luck!

Annette Aviles
Licensed Real Estate Agent
Exit Realty Van Zandt
1314 Blondell Avenue
Bronx, NY 10461
(917) 292-9227
http://www.annetteaviles.com
Ambit Energy Consultant
http://www.annetteaviles.energy526.com
http://www.annetteaviles.joinambit.com
0 votes
Lori Burns, Agent, Middletown, NY
Tue Mar 3, 2009
Hey Shaun,
Other than waiting it out, you could approach his broker. Explain the situation and see if he/she might assign another agent in the office to work with you.
0 votes
Shaun, , Bronx, NY
Mon Mar 2, 2009
Unfortunately I asked and he refused, what would my next step be? Do I have any other options?
0 votes
Pascual Paul…, Agent, Bronx, NY
Fri Feb 27, 2009
Like Lori & Lisa said, if your not happy, the professional agent will most likly let you out of an agreement because he is unhappy too. Talk with him.
Web Reference:  http://Paulmvpteam.com
0 votes
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