How to terminate a RE agent agreement
Hello. The contract with my current RE agent contains the following sentence: "Although Buyer may at any time withdraw from the fiduciary relationship existing between Buyer and Firm, the contract created by this Agreement may not be terminated by Buyer or Firm prior to its Expiration Date without legally sufficient cause." What is legally sufficient cause? I'd like to exit my current agreement and work with someone else, but that sentence gives me pause about how to proceed. I'd appreciate any insights.
You should be able to contact the Broker/manager of the agency. Explain why you want to be released. They are going to try to set you up with another agent under their license. You should be able to deny. Ask for a release from the contract, signed by the broker. It will be conditional, on the procuring cause, which means if you pursue or buy any property their agent showed you, you will owe them their commission or part of it. You can definitely get out of a buyers agreement, they have it worded to scare you from leaving. The buyer brokerage agreement you signed should have the brokers name and contact information on it. Hope this helps!
Brian Beatty
In the contract it also says what the agent has to do, I assuming your leaving because the agent didn't perform some duty. Bring that up to the agent and MOST LIKELY the agent will just let you walk, they don't like a fight. Mention "so to get out of this do I have to contact the Department of Real Estate?" but in a nice not-knowing way. That should give the agent enough incentive to let you walk, no need for a fight.
