Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28271787
No new orders today 13101893
Stupid MLS comments. 3276759
What do you know about Froy Candelario, top agent in USA 1189513
Stupid QC comments and BPO requirements. 1061210
New HUD Listing Brokers---Any Update? 1028238
Is there religious content in Buffini class? 822772
Let's talk about our cars 671064
Name that Flick. Great movie Lines. 602727
Pay it Forward - BPO/REO Tips & Tricks I & II 592450
Most common items found at an REO 576065
EML 459232
REOTRANS 440754
Main Street 419467
asset val seminar in colorado 407201
assist 2 sell or 1 percent realty? 340452
HOMONYMS - There, Their, and They're 306799
Evalonline 300191
Land America 285052
Mainstreet 261859
Matched Content
Topic Options
Rate This Topic
#439246 - 09/19/14 08:47 PM How to break up with my Client
elongfellow Offline
Junior Member

Registered: 09/19/14
Posts: 2
Loc: CA
Hello All,
My buyer client and I decided mutually that we should terminate our buyers rep/exclusive contract early. Itís mutual, without going into details and for the better for both of us. Here are my questions:
1) Iíd like to provide her with a termination contract and canít find the right one.
2) We put offers on 2 homes both of which may fall out of escrow in the near future and it is possible she would renew her offer or make a new one on one of these homes. I definitely want to facilitate the sale should either of those properties come up, since I worked so hard with her on these properties.
3) How do I write up a termination of buyer rep with these exceptions? Is it as simple as just writing a letter and having us both sign it, or are there proper termination contracts for these issues??
Thank you.

Top
Advertisements
#439269 - 09/20/14 03:06 AM Re: How to break up with my Client [Re: elongfellow]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7719
Loc: Vermont's North-East Kingdom
Is there a "Termination Clause" in your Buyer Broker Contract ?

If so, follow it. If you don't know, then now is a good time to familiarize yourself with the Terms and Conditions you've agreed to. Let that language be your guide.

Your situation sounds a little like wanting to get a Divorce; but trying to maintain a reasonable relationship for the sake of the Children you've created together (in this case "Tendered Offers").

How many properties is s/he going to purchase ?

If it's only one; then I have always felt very uncomfortable allowing a Client to make a second Offer on another property when we don't know with certainty what the disposition of the 1st Offer will be. If the Buyer can't purchase two(2), then you've placed the Client in a vulnerable position where s/he could be sued for Breach of Contract or, minimally, failure to perform, and possibly lose any Good Faith Deposit that accompanied the 1st Offer.

I'd discuss this matter with your Broker immediately; or seeing as you are in California, and you could be "The Broker", then discuss the matter with your Attorney; and let him/her draft the language that could extricate you from this unusual situation . . . . while you still have "irons in the fire".

Trying to maintain that luke-warm contractual relationship that you're proposing, with applicability only to the properties that s/he has made Offers on through you, will be extremely awkward; and I doubt that she'd agree to it.

I think that if she wants to severe the relationship with you as her Agent, then you should anticipate being "thrown completely under the bus", and not just half-way. Perhaps you'd have some prospect for pursuing a Commission based upon being the "Procuring Cause" if she were to actually purchase one of the two properties that she made Offers on through you; but that's going to be a long shot if she renews her Offer using another Agent.

Good Luck !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#439274 - 09/20/14 07:05 AM Re: How to break up with my Client [Re: Vermont]
elongfellow Offline
Junior Member

Registered: 09/19/14
Posts: 2
Loc: CA
Thanks so much for your response. Just one purchase - and due to my poor initial explanation, her first offer was for a home that subsequently withdrew their listing. Her 2nd offer was verbally rejected. So these homes are longshots, but just in case either returns to her via a phone call, I wish to be the agent that renews her offer based on as you say causing the initial offer.

In the meantime, off to my termination clause to learn....

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
PMacpherson, Non GMO CRE, Reguru1, Shaun225, Dr.Brim
29797 Registered Users
Who's Online
5 registered (Brad, AML, Trouble, estatereal, RonnieEmz), 39 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 74
Vermont 39
estatereal 15
Trouble 15
Flare616 13
Snapple 12
Logan Five 11
RonnieEmz 10
Lucky Leonardo 9
waka 9
Analog Man 9
TheTexasGal 8
Flammable 8
gitmonee 7
CRSmith 5
Featured Member
Registered: 09/13/17
Posts: 5
Facebook

How To Advertise Here


This site presented by RNC Internet Services