I signed a exclusive buyer purchaser agency agreement contract for 6 months in New York State

Question

I am not satisfied with how business is being handeled. I feel the real estate agent is not aggressive enough and when I call the agent during normal business hours, it takes her 1 full day to return a call after I have to leave 2 messages.For example, I went out one morning with the agent, looked at some homes,after the agent and I returned to the office, I told the agent I would be calling her within a few hours with a decision on a home and would make an offer,2 hours later (3pm),during buisiness hours I left a message for her and the call was never returned that day, the next morning came (11am) I left another message in regards to making an offer,the agent responded (6pm) and stated nothing could be done at that time and made arrangements to place the offer for the next day.to make along story short,this is the 3rd house I am going to lose out on because of excuses.The real question is can I terminate the buyer purchaser agreement and move on to another real estate agency without penalty?

Answer 1

You cannot cancel the contract because it is legally binding and works TWO ways.  You alone, cannot cancel the contract.

I will tell you what you can do.

Call the broker-in-charge of the firm.  That is who the agency agreement is legally with.  They will assign you to a  new agent or mutually agree to terminate the contract.

That way you get someone capable of handling your business and you don't get sued.  

Answer 2

No, sorry, you have a contract.

However, your contract is not with this twit.  Your contract is with the broker who employs her.

You need to call the broker and let them know what is going on.   Your agent needs to be available 24/7...or at least from 7 am to 6 pm to not only show property but to deal with all of associated issues, title company, bank, etc.

It sounds like this person is not competent.   Request that you be reassigned to another agent.

This will get you a better agent (lots better, you have bottom of the barrel now) and not violate your contract in any way what so ever.

Your agent is violating it with their incompetence and inability to perform.

Answer 3

contact the agent's broker.  I am sure he will not refuse

to cancel. If you have a problem with him, get back to me.

Answer 4

You need to thoroughly read your buyer agency agreement.  Most stipulate what duties the buyer's agent must perform AND what duties the buyer must perform.

I, personally, cannot imagine an agent unwilling to write an offer, but I suppose if that agent is very busy or if the buyer's demands are unreasonable (i.e. unreasonably low offers that have very little or no chance for success).

The best time to write an offer is while you're still with the agent.  By waiting a few hours, you're assuming the agent doesn't have anything else to do - that's not a good assumption.  Full time agents easily work more than 40 hour weeks (I'm sure I'm well over 60) so a buyer who expects that I'm always able to respond to their immediate call isn't being realistic.  Good agents ARE busy.  

The agent should be prepared to provide you comps when you need them (via email) and should be able to transact almost all of the business needed by email and fax (though some states and/or sellers might require original signatures).

Instead of jumping ship, call the agent's "broker-in-charge" (the name's a misnomer since agents are, generally, independent contractors) and see if he/she has a suggestion/explanation.

Real estate purchases and sales are rarely as cut and dry as your question reflects.

If you're still dissatisfied after speaking with the broker-in-charge, send a letter stating that you're terminating the buyer agency agreement based on reasons set forth in the written agreement (like failure to present an offer).