I know that most, if not all, agents tell their buyers that the representation agreement will allow them to fully represent the buyer and they can terminate at anytime. In reality, I have not witnessed that as the case.

Just last week, I witnessed the growing frustration of a buyer with her agent come to a head and if I were going to be 100% objective, I would admit that she should have terminated after 2-3 weeks but she stuck it out until the last month of the three month term, which of course had 2 months of protection after expiration. She asked for the termination but madam broker responded with 'we elect to allow the contract to expire'. I wonder what her next move is.

What percentage of clients who want to terminate is actually allowed to terminate at your brokerage? Have you ever terminated with a client(s) and have you ever refused to terminate; if so, why or why not?

Whats the problem? Can it be worked out?

If the client has a friend that just got a license then no I would not let them out. If we have a conflict that can not be worked out, then we can part ways.

I have released contracts, and refused to work with buyers. Its not worth the hassle or potential damage to my reputation to service a client with a legitimate gripe. An angry client will tell everybody that will listen how bad their agent is.

Her steps would be to talk to the agent and their Broker and try to resolve it. If she truly can not work with the agent/broker then the contract will have to expire or reimburse the agent for time spent and expenses during the course of the contract. Expenses occur when working with Buyers as well ie Toner, paper, time, gas, potential missed opportunities. Without the EAB Buyer Agents get nothing unless the deal closes.

Thanks for sharing REODayton. I am unsure of whether you are specifically asking me or more or less explaining your thought process/procedures. Just in case, I will say a little more.

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A woman signed an exclusive buyer's agreement with an agent because she wanted to purchase a house. What I have seen/heard/overheard first hand is that the agent did not give her a single lead during the entire time; every house she saw was apparently to her own finding (agent does not deny this). She called and emailed and he doesn't answer her calls and only answers her emails days later.

So rewind to last week and she has 2 weeks left on her contract. Apparently the agent showed her 4 houses last Monday (by all accounts she originally wanted to see them last Saturday or Sunday but my agent friend ignored her calls and emails; again he does not deny any of this but has excuses for everything like he did not have his phone with him over the weekend). She wanted the agent to write two offers immediately after the showings on Monday b/c she really wanted one of the houses but the other was acceptable. She said he told her that he had other plans. She said she wanted to get the offer out as soon as possible. Three days go by with her calling the office, etc. All of a sudden on Thursday afternoon the agent answers her call and informs her that her first choice just went under contract. She is upset for obvious reasons but if she knew what I knew from watching, listening, and chatting up her agent she would get litigous.

At any rate, she wanted out and the answer she got was this close to expiration, we will just let it expire.
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At any rate, I do not need any advice about someone else's problem. I provided extra info because it seemed like you asked but still not sure if I read it wrong. The specific case that made me wonder the question(s) I relayed in the OP is more or less irrelevant to the larger issue I was posing. That is, how often do people really terminate and when you refused, why.

Was an exclusive buyer broker for over 10 years. Always had written buyer agency agreements and always had a instant termination clause.

If they don't want to work with you, why try to hang on. The only thing we asked was that if it was a personality thing, that another agent at the firm be considered first. Sometimes a switch was all that was needed.

Of course, we did the right to have a reserve list to protect properties we had already shown.

Steele in Minnesota

I read our buyers termination form and it requires an agreement between both buyer and broker to terminate.

What do you mean by instant termination clause? I presume you mean either party could terminate at any time without agreement but how is an agent protected at all with such an agreement....Do you recall the gist of the wording?

The agent abandoned the buyer on several occasions. The buyer has a right to terminate the agreement. Let the broker do what they want with the agreement, it's null and void.
A letter to the broker explaining that should be sufficient, the broker might assign another agent, but that's up to the buyer to accept or reject.

Thanks pike but does what you say only apply in the case of "instant termination" mentioned above? Like I said, we have an agreement to terminate form and I do not understand how you say that someone can just walk away from a binding agreement.

I agree with you that she should be able to get out and she doesn't even know how badly she was harmed by the agent. She is a first time buyer and I guess she wanted the more experienced agent. Sometimes that is not always best.

I had a buyer tell me that they did not feel that I gave them the attention they needed to assist them. I did the best I could, but at the end of the day they were not impressed with me and for that I said I was sorry I was "to busy" and released them. Were they right or wrong? Who knows, that was their perception so they were right in my business model. I did appreciate the honesty as to why they wanted to "fire" me.

The contract is with the broker. If the agent will not release the contract, then call the broker. I gave the option to have the client reassigned to someone in my office and they declined. I will never force you to work with me if you are not happ, its bad buisness. Contract released with an apology. It really does not matter what I think, it's what my clients think. Unclog the toilet ASAP or the S%%t will hit the floor quickly.

I do agree with Pikes, sounds like the customer was abandoned. Have your friend express that to the Broker and move on. I would still encourage you to have your own representation though in a transaction. One agent can sour the entire industry. Agents do at times take on more clients than they can handle (thats the business though).

He wasn't too busy. He is simply something worse but that is besides the point.

Broker didn't let her out, so that is that. I completely agree with you REODayton. I secretly hope she gets buyers revenge but I hope everyone is not included. She is not my friend. I kind of see his point that it is somewhat her own doing. He did specifically tell her that he did not want to sign an Exclusive buyers agreement. He directly told her that he preferred not to but she insisted and I was there at the time. Her two weeks will be up soon enough and she will expire.

Back to the real topic...

Any client- Buyer or Seller, CAN terminate their association with the Brokerage at any time.
In my office we have a termination fee along with a $300hrly fee in which we still retain all rights in the contract.

Get paid...

"Any client- Buyer or Seller, CAN terminate their association with the Brokerage at any time.
In my office we have a termination fee along with a $300hrly fee in which we still retain all rights in the contract."

As long as it's disclosed up front. So, how many buyers and sellers line up to pay you $300 p/hr? Do you have a performance guarantee clause?

No performance guarantee clause.

Just got paid last week 3k for a termination.

My time is worth being compensated how about yours?

If anyone would like a copy of our office termination form, please feel free to privately pm me.
In doing so, please provide your name, brokerage, and email.

I have no problem providing a benifit to other members of this forum.

Nosellercost, no disrespect intended to you, but what the heck kind of nutters sign on with you? What kind of buyer signs something like what you keep describing---are these illiterates, self-destructive lazies, or so rich that they will toss 3k away on a cool pair of shades let alone a RE-licensed-chauffer-for-a-1/4-day?

I am happy for your success and I am sorry if you find it offensive that I find what you say incredible and a little ...unbelievable.

Your posts have become my favorites because I usually get a good lung clearing gasp after practically each one.

Your posts have become my favorites because I usually get a good lung clearing gasp after practically each one.

I am glad I could be of assistance to u even in a healthy way.

I am sorry u do not believe or want to believe a real estate agent/Brokerage can actually make money when a client changes his/her mind.

Actually what I said and meant was that I think your success is incredible and my reasoning can only find it a little unbelievable. I can only go by what I know and what I know doesn't allow for buyers doing the things you state. That is all. I have said that I think your success is great but likewise I think buyers are foolish to sign under the partial conditions you have mentioned.

I can neither 100% confirm nor refute anything you have stated about your business; however, I can safely say that assuming everything you state is fact I believe you work with nutters, plain and simple.

donedeal,

Dealing with real estate buyers or sellers is extremely difficult in any transaction. I learned ver yearly in real estate that people change their minds quick on all matters. But, If u hire me to do a job for u, I need to be compensated for my time involved even if u change your mind.
I wanted to start taking retainer fees (like attorneys and others do) but I chose to concentrate fully on Sellers and getting the listings.
Thank u for being the 1st person today to actually not bash me for my real estate actions.

"My time is worth being compensated how about yours?"
I do not work for free (if I can help it).
I do provide a performance guarantee, and get rewarded quite nicely at it's conclusion.
Years ago I required a retainer fee of $500 (company policy), however, with all the relo business (USAA etc.) it became problematic and it was discontinued.
I did not see the mention of REALTOR or Equal Housing Opportunity sign on your website, are you Realtors and subscribe to Equal Housing Opportunity?

Well, I can't bash something I don't know about so it is all fine to me. I wouldn't take anything that happened in the forums today too personally. I read all of the pertinent threads and I think everyone (you included) is just in a mood to blow off steam.

Plus, many people probably have a legitimate desire to learn things and no one wants to be out of the know on a subject of their profession; on the otherhand, as it is clearly stated in the BPO/REO forum a large percentage of people here advocate keeping specific trade secrets and money-making information and systems to themselves---I think those people probably agree with you that you should not expose your system. So it is balancing two competing mindsets within the same web community. Of course you should understand that people want to know, learn, understand as much as possible about their field and so when you proclaim something new, then those who are learners, perfectionists, etc naturally want to understand---as it should be.

I didn't realize anyone had a choice on that one, so I am now curious as well.

Obviously, u did not really LOOK, because the logo "is" there.

So quick to bash and negate.

I appreciate that.

"Obviously, u did not really LOOK, because the logo "is" there."
I'm overjoyed to see it, but still no "REALTORŪ".
Here is another way to sell RE in our neck of the woods, also with 0% commission if a seller prefers, but with a REALTOR Attorney/Owner company. There are so many ways to make a buck, but you really have to work to be successful.
http://www.directsellrealty.com/