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Are you able to revoke from a buyers agent contract??

Our buyer's agent suggested what we should offer on a property on Friday. We sat down to write on Sat. and offered what he had first said, because we agreed......through our due dilligence on solds and other pertinent info. The agent said, "If you offer x I guarentee you will not receive a counter. We offered $5,000 less and the counter came back $15,000 higher. When we asked the agent about it, he claimed to never have made that statement. My husband and I and my daughter have total recolection of what he said and can quote him verbatim, and today he denies having said it. Now we have no trust in him, and our back are against the wall. We need a house fast! Not being able to trust him though, we can't move forward with him. We need to revoke.....are we able to do so.?
Frustrated.......Lisa

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July 22 2012 - Brown Deer
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Profile picture for SoCal_Engr
LOL...Consumer throws down with the answer-your-own-question ploy. Obviously just trying to drive up their viz on Zillow.
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July 24 2012
A Buyer's Agency Agreement is just that, an agreement.  It is not a legal contract

Yes. It's a legally binding contract.

Here's the link to the Wisconsin Buyers Representation Agreement. As you can see the language clearly states that unless one party has breached the agreement, both parties must mutually agree to end the agreement.

Excuse me, the contract.
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July 24 2012
A Buyer's Agency Agreement is just that, an agreement.  It is not a legal contract.  Yes, you can inform your Buyer's Agent in writing that you do not feel like he is representing you well and you are withdrawing from the agreement.  However it does not sound like you took his advise and offered $5000 less than what he recommended. A buyer's agent can only make a resonable guess as to how the seller will respond. There are always surprises and it's best not to speculate.  This can lead to disappointment and doubt.   Good Luck and remember most agents are doing their very best.
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July 24 2012
Profile picture for SteadyState
It's a shame that consumers face this issue time and again by buyers agent who view sales commission as an "entitlement" because they opened the lockbox and talked to their friends while you were inspecting the property.

If you don't like any property, you don't have to make an offer, and the contract will soon expire (if your agent is a jerk make sure to make him/her drive you to dispersed properties during this process and if you must make an offer ask him/her to develop the offer at least 50% below market  ((:-)).
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July 24 2012
I am a little confused also by your answers (below) to your own question.  None the less, a agency agreement is a service agreement and as such may be terminated unilaterally by you.  You always have the power to fire your agent, however, that does not mean that you always have the right to fire him.  This is a he said/she said issue.  You must retain fault here as well as you are responsible for ALL decisions - your agent only gives guidance.  No matter how little a buyer or seller knows about real estate issues, no one is so naive as to believe that there can be guaranteed outcomes or scenarios.  One more issue.  If you fire him - that does not remove him from this particular transaction.  The listing agent will still have a duty to pay your agent - if you indeed buy this home.
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July 23 2012
HUH?

You're asking and answering your own question.....???
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July 22 2012
Profile picture for user3725023
Yes you can revoke your contract.  If you have no further trust, you won't be able to move forward.

good luck
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July 22 2012
Profile picture for user3725023
I think you might be able to but I am not exactly sure. You might want to double check my answer.
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July 22 2012
 
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Are you able to revoke from a buyers agent contract??
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July 24 2012 | 8 answers
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