Legal Question in Real Estate Law in California
Real Estate Agent & Customer Contract
My husband and I are looking for our first home and we signed a contract with a Real Estate agent whom we contacted to do possible business with. We requested his services to help us find a property but in return he asked us to sign an exclusivity contract which would prohibit us from contacting any other agent for property information/listings. If we do, the contract states that if another agent sells us a property he's entitled to some of the commission. This contract is for 1 year. We now have talked to another agent whom we'de rather do business with and want to know how we can get the exclusivity contract we signed voided. Can we just request disillusion of the contract or perhaps write a letter asking for the contract to become void? Please advise. We think there must be a way to break this agent relationship if we don't want to do business with him.
2 Answers from Attorneys
Re: Real Estate Agent & Customer Contract
I would have to see the contract you signed but my guess is you are stuck. But the agent can't have the whole commission. Disclose the situation to your new agent and he or she may still willing to help you.
Re: Real Estate Agent & Customer Contract
I think it will be difficult to get out of the contract if the agent or his/her broker is avaricious. Some agents/brokers might excuse you from the contract (allow rescission by mutual consent) if the personal chemistry is bad, but a great many will say, sorry, a deal's a deal. You should negotiate. Maybe you can buy your way out for a reasonable sum. As far as finding a loophole to "break" the contract without liability, I think your chances are relatively weak because these contracts are time tested and the loopholes found and eliminated.
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