How do you terminate a buyer agency agreement?
In Virginia, there is no official “termination of buyer agency” option. Buyers can request a release if they no longer want to work with their agent, though. Whenever this happens, we find that it’s usually because they found another house they want to buy through another agent.
This can be a sticky situation though, so anytime you attend an open house, the first thing you want to do is tell the agent(s) there that you’re already working with another agent. This will keep you and anyone else out of any muddy water.
If you’re a buyer and you ever have a problem with your agent, call that agent’s broker and explain the situation. That’s who your agent works for and who they’re answerable to. The broker is the one in charge, so your agreement, in effect, is with the broker. Odds are, that broker has plenty of other agents who would love to work with you.
If you request a release from your agent because you went to an open house and met another agent or found another house you want to purchase with another agent, the broker probably won’t grant that release because their agent still did their job.
If you have any other questions about buyer agency or you’re thinking about buying or selling a home in our market, don’t hesitate to reach out to me. I’d love to help you.