The following is a blend of conversations with two different buyers over the past week. In both cases the buyers were referred to me and I was told that the buyers were unhappy with their previous real estate agents.
Buyer: My agent wrote several offers for me and none of them were accepted. He won't answer my questions and I think I'm getting bad advice.
Me: Did you sign a contract for the agent to represent you as your Buyer's Agent? Because if you are currently under contract with an agent, I cannot help you. I can't interfere with your contract with another agent.
Buyer: Nope. Never signed anything like that.
Me: Are you sure? Because if your agent has written any offers on your behalf, Maryland law states that you must have a written contract stating that he is your agent. Either that, or you have to specifically acknowledge -- again in writing -- that he is representing the seller.
Buyer: Nope. We never had any agreement like that.
Me: Do you have copies of everything you signed with the agent the first time he wrote an offer for you?
Buyer: Yes.
Me: Look through those papers and see if you signed a paper called "Buyer Agency Agreement" or something along those lines.
Buyer: Okay, but what does it do?
Me: Sets out how you are to pay your agent, determines how long you and your agent are bound to one another and lays out your obligations to one another.
Buyer: Okay, I'll look.
Second conversation.
Buyer One: I did sign a contract -- though I don't remember even talking about it. I've called my agent and we've terminated our agreement. I sent him a letter today.
Buyer Two: I did sign a contract --though I don't remember even talking about it. But my agent won't let me terminate the contract and I guess I'm stuck with him until the contract expires in another four months. Maybe I'll call you then.
This is a really disturbing trend -- that agents are not talking to buyers about their contractual obligations or, apparently, following Maryland law. This conversation should take place (and Agency disclosure should be signed) at the very first appointment between agent and buyer (or agent and seller, for that matter).
I wish I could think of a solution to this problem.
(C) Susan Pruden. | 
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