It is possible to terminate the buyer-broker contract if the buyer or agent believes that the agreement does not work. This section describes how someone can terminate the contract, how much notice must be given, and an amount in dollars that the buyer must pay if notice is not given. Non-exclusive agency contracts stipulate that the buyer will compensate the broker if the buyer buys a house that his agent presents to him. However, if the seller agrees to pay a commission to the buyer`s agency, he is free. Under this contract, the buyer can also buy a home from another broker as long as their original agent has not suggested it. Think of it this way: if you`re shopping in a store and a sales representative really took the time to help you find exactly what you were looking for, then they earned the commission on your sale. Well, let`s say, after all the hard work of the sales representative, another one collapses in the end, calls you and takes the commission of the first employee. It`s not okay, right? This is the kind of fun business whose brokerage contract of a buyer protects a real estate agent. Exclusive agency contracts are the most common buyer-broker contracts. Just like the others, it will describe what the agent will do for you, the buyer, and it will describe the buyer`s obligations. You may have to pay the commission described in the contract, but if the seller agrees to pay the commission, the buyer is not obligated to do so. .
