You are the Boss, they are a hired service. You should inform yourself about the process and Be the Boss. There are a lot of fish in the Please hire me pool, only a few keepers...Avoid the sucker fish...
As mentioned, there is no normal time, the most important thing is that you should be able to terminate the working relationship at anytime if you are not happy with the servie. That said, make sure that you sign a cancellation agreement becuase if not it could cause problems for your next agent if you continue to search and find a property.
I hope this helps
There are no "normal" times for a buyer/client contract.
You would want to be assured that you have enough time to maintain the close and trusted relationship with your buyer agent in order to meet your goal in purchasing a home in a given market place and you specific circumstances.
I offer a clause in my buyer/client contract that say - in essence- that if my buyer is not pleased with an aspect of my work with them - that they place that in writing to me and give me 7 business days to correct it. If I cannot correct it, I null and void out contract. There are some reasonable exceptions in that cluase based upon homes we have already seen togetherer, however, this clause give peace of mind to all parties.
I am pleased to say I have never had a buyer/client put an issue of my performance in wiriting which could have lead to voided our contract.
If you would like to discuss how I may be a good match for you as your buyer agent please give me a call: 508-479-9833 - It's my pleasure to talk with you.
Mary Condon MBA
Best Wishes in your home search,
YOU retain the Realtor for services. If you've signed an Exclusive Buyer's Agreement, it spells out how long the agreement is valid, and what "escape" methods are in place.
Typically, the EBA is good for 3-6 months, and it often allows cancellation merely by written notice from you.
Personally, if it doesn't allow for easy cancellation, I (as the buyer) wouldn't agree to sign it.
and regarding Susan's comment... hmmm... an agreement, signed by both parties, spelling out expectations of services between the two parties and compensation... sure sounds like a contract to me.
Sometimes the relationship doesn't work and you can always move on to another agent.
In my opinion a buyer agency agreement is like starting a realationship, sometimes we may not be a great match, in those cases I'm glad to assist them in finding an agent that might be a closer match. This is why it's important to always interview several agents, research them and see which will be the best match for you.
Everything is negotiable, office policies for individual agents may differ but unless you ask you'll never know what's possible.
Good luck with your current situation, consult with the broker of record to see if there's a way to mutually resolve any issues you have with what's being provided or not provided.
My guess is you are asking the question because you are unhappy with your buyer's agent. I personally have a guarantee, that if I am not performing in the manner the buyer wants me to, all they have to do is send a letter explaining what the problem is and I will cancel the contract with-in 48 hours. In all the years I have been doing this, I have only had to do that once. I do not want to be in a hostile situation with a client. It is not fun for either one of us. I also feel that as a buyer, you are the boss and you have a right to let me go for non performance.
With that said, understand a good buyers agent can put many, many hours into a buyer client, sometimes in upwards of 40-60 hours. They need to get paid and they need the loyalty of the buyer. An agent also does not get paid unless you buy. I am not saying a contract should allow for bad service from an agent, but it is also your job to communicate effectively what your expectations are for the buyer's agent.
I may be presumptuous in assuming your not happy with your buyers agent, but that is usually why buyer's ask that question. In know way am I suggesting a contract should allow for bad service from an agent, but it is also your job to communicate effectively what your expectations are for the buyer's agent. If you have a problem I would have a sit down with the agent and explain where the relationship may have gone wrong and get some agreement that if the situation can't be rectified that the contract is cancelled.
Good luck, and if you asked the question for a different reason, let me know.
It is really up to you and your agent. I personally do 6 months and always allow my clients to get out of the agreement with written notice or extend the agreement if we have not found them a house. Are you uncomfortable signing for a year? If so, discuss that with your agent. Also, find out how you can get out of the agreement if things change. As agents, we spend our time and energy showing buyers houses, the agreement just makes sure we are going to get paid if you decide to purchase a home.
I hope this helps.
Advance Realty Direct, Inc.