Terminate an "Exclusive right to Represent Buyer" Agreement?

[crakarjax]

What is the name of your state (only U.S. law)? VIRGINIA

I signed the aforementioned agreement, which is identical to the following:

http://wethmank.googlepages.com/BlankBuyerBrokerAgreement.pdf

And would like to use a different agent. I emailed the agent and asked for him to refer me to someone else. He didn't want to, but eventually referred me to another agent in my office. I raised my concern about the contract with this second agent, who told me that at any time I could cancel these contracts by giving written notice outside 72 hours of the agent showing me any property or holding a valid contract on a house.

Is this true? If I go with another agent is there any way my old agent can nab me for comission given that they did not show me the house I purchase?

Thanks!

 

[nextwife]

What is the name of your state (only U.S. law)? VIRGINIA

I signed the aforementioned agreement, which is identical to the following:

http://wethmank.googlepages.com/BlankBuyerBrokerAgreement.pdf

And would like to use a different agent. I emailed the agent and asked for him to refer me to someone else. He didn't want to, but eventually referred me to another agent in my office. I raised my concern about the contract with this second agent, who told me that at any time I could cancel these contracts by giving written notice outside 72 hours of the agent showing me any property or holding a valid contract on a house.

Is this true? If I go with another agent is there any way my old agent can nab me for comission given that they did not show me the house I purchase?

Thanks!

They did, however, show you OTHER homes, I presume, based upon having a contract under which you would eventually buy through them? If you were still under a buyer-agent contract, why did you go see a home with a different agent?

 

[Mass_Shyster]

What is the name of your state (only U.S. law)? VIRGINIA

I signed the aforementioned agreement, which is identical to the following:

http://wethmank.googlepages.com/BlankBuyerBrokerAgreement.pdf

And would like to use a different agent. I emailed the agent and asked for him to refer me to someone else. He didn't want to, but eventually referred me to another agent in my office. I raised my concern about the contract with this second agent, who told me that at any time I could cancel these contracts by giving written notice outside 72 hours of the agent showing me any property or holding a valid contract on a house.

Is this true? If I go with another agent is there any way my old agent can nab me for comission given that they did not show me the house I purchase?

Thanks!

You signed an agreement with the BROKER, not the AGENT. You are free to choose any agent that works with that broker.

If you don't like the agent you're working with, talk to the broker and get a new agent assigned to you.

 

[crakarjax]

I did not see any homes with the other agent, however the agreement is really with the broker, so any agent in my first agent's office is technically fair game.

I did not like the agent he referred me too, nor long and foster's piles of contracts and fees they push upon customers.

 

[HomeGuru]

I did not see any homes with the other agent, however the agreement is really with the broker, so any agent in my first agent's office is technically fair game.

I did not like the agent he referred me too, nor long and foster's piles of contracts and fees they push upon customers.

**A: you have confused the term agent and principal broker.

 

[crakarjax]

Is this a place where only lawyers can get advice, or can laypeople come here with questions and actually get answers? Does anyone have anything constructive to say or am I stuck with snide remarks meant to display the sheer legal superiority of this forum's frequenting members? Seriously, if that's the best help you can give me... to stop confusing agent and broker... then feel free not to give any assistance at all. I will gladly take my presence to your largest competing forum.

 

[HomeGuru]

Is this a place where only lawyers can get advice, or can laypeople come here with questions and actually get answers? Does anyone have anything constructive to say or am I stuck with snide remarks meant to display the sheer legal superiority of this forum's frequenting members? Seriously, if that's the best help you can give me... to stop confusing agent and broker... then feel free not to give any assistance at all. I will gladly take my presence to your largest competing forum.

**A: our advice is based on facts. And based on your post, the facts were not there and the issues confusing.

 

[crakarjax]

I posted a copy of the actual legal document in question. Not sure how it could be clearer than that.

I just noticed that he did not sign it... he being the agent. Does this make the contract void? We have an unsigned copy, could he sign it at a later time?

 

[drewguy]

What is the date on the contract through which you're obligated?

Paragraph 7 is pretty clear about when the fee/commission is earned, so as long as you don't buy a house shown to you by that broker you're okay. The fact that the agent showed you houses is irrelevant. Yes, he spent time/effort on you, but compensation if paid when you close, not just for the work. If they wanted to bill by the hour, they could, but he didn't propose that. sometimes you win sometimes you lose when you're on commission.

BTW, strike out the provision for the $295 admin fee. That's junk and should be paid by the agent. (or do so if you resign an agent agreement).

 

[HomeGuru]

I posted a copy of the actual legal document in question. Not sure how it could be clearer than that.

I just noticed that he did not sign it... he being the agent. Does this make the contract void? We have an unsigned copy, could he sign it at a later time?

**A: oh brother. That's my point.

 

[crakarjax]

**A: oh brother. That's my point.

You have over 73,000 posts and apparently very few points...

Drew, regarding para. 7, point A implies that even if I go under contract on real property with a different agent, the broker has earned his commission. Am I reading that correctly?

 

[drewguy]

You have over 73,000 posts and apparently very few points...

Drew, regarding para. 7, point A implies that even if I go under contract on real property with a different agent, the broker has earned his commission. Am I reading that correctly?

Yes, if the agreement is still in effect. That's why you should mutually terminate the agreement in writing.

But if it's another agent within the same broker, then you owe the broker anyway, so let the agents fight it out over who gets the commission.

 

[Zigner]

Is this a place where only lawyers can get advice, or can laypeople come here with questions and actually get answers? Does anyone have anything constructive to say or am I stuck with snide remarks meant to display the sheer legal superiority of this forum's frequenting members? Seriously, if that's the best help you can give me... to stop confusing agent and broker... then feel free not to give any assistance at all. I will gladly take my presence to your largest competing forum.

Perhaps the agent's not the one with the attitude problem...

 

[crakarjax]

Perhaps the agent's not the one with the attitude problem...

Do you honestly think my response was unwarranted given the preceding comments?

 

[HomeGuru]

Do you honestly think my response was unwarranted given the preceding comments?

**A: yes, so please go jump back in your crackerjacks box.