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Is an exclusive right to represent agreement limited to properties shown?

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November 02 2010 - Yonkers
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Profile picture for robin398
Hi dhs326,

I do want to make one more point.  A broker also may wish to represent a buyer with respect to a single property only.  In this arrangement, the clinet agrees to pay the brokerage a fee if the client purchases a specific property.  The brokerage does not reveal where the dwelling is located until the contract is signed.

Again, buyer agency agreements can only be terminated by mutual consent.

Robin Lynch
Keller Williams Realty Group
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November 03 2010
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Laws vary from state to state.  You need to read the contract that you signed.  You just cannot terminate your agreement in writing.  It is really up to the discretion of the broker and not the agent.  It is best to sit down with the broker to see if they will allow you to get out of your agreement or if another agent will be assigned to you.
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November 02 2010
Hi there,

If you decide to move forward without your current agent, you must put into writing that you are terminating you agreement.  Make sure you note as of this date, that you are instructing your agent to no longer put any effort or work into assisting you - i.e. stop sending you listings.  If you end up purchasing a house that he/she showed you prior to terminating the agency however he/she may have rights to his/her commissions.

I never have my clients sign these types of agreements.  My perspective is that if my clients are not satisfied with my services, either I need to improve my services, or we should go our separate ways.
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November 02 2010
No it is not usually limited to just the properties shown, it usually will last if you purchase a property durning the time of the agreement.  If you are unhappy with the agent that you have the exclusive right to represent, you can cancel it.  You would need to put something in writing to the agent that you have the agreement with. 
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November 02 2010
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Hi dhs326,

This type of agreement does not limit properties shown.   The agreement tjat you signed with your agent means that only this agent can show you properties for a specified period of time as listed on the agreement.  This means that you cannot have another agent show your properties during the specified time period.

Robin Lynch
Keller Williams Realty Group
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November 02 2010
In general, no. If you signed such an agreement, it should have had a definite time period (one week, six months, etc) and a definite geographical range specified. It's probably invalid if it doesn't (you can not really be expected to sign an agreement making an agent your exclusive agent for the rest of your life everywhere in the world). But if it has those specifics, and the property you are interested in falls within them - your agent has the right to represent you and get the commission for your RE purchase.

You can ask the agent to void the agreement. I'm an agent - I don't use these agreements that often - but if the buyer's agent spent a lot of time with you trying to find you a property, why shouldn't he/she be entitled to a commission on what you finally buy? 
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November 02 2010
 
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