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To the person who visited this site from Google with the term "Toronto terminating REALTOR customer service agreement"- In order to terminate a "customer service agreement" you need to do nothing. A customer service agreement is a disclosure form that formalizes and clarifies that the REALTOR®, that you are using, is NOT working for you. Instead they are providing customer service which includes fair and honest treatment, factual information about the property that is not visibly evident (latent defects) and answers that have properly thought about before responding to them (they have to answer any questions about the condition of the property, as you ask them).
With a customer service agreement you are "unrepresented" and in a "buyer beware" situation. If you walk into an open house and want to buy that house using the listing agent then this is the relationship that the REALTOR® should be working towards unless you request representation and the seller agrees to allowing their agent to enter into a dual representation situation (or you get representation from another REALTOR® at a different brokerage).
Buyer Representation Agreements on the other hand state that the REALTOR® is working for you and that you are bound to that REALTOR® for the term of the agreement with a holdover period. In this case you receive fiduciary duties, from the REALTOR® and all of the agents at the brokerage that they work for, that protects your information and interests. Unless you have an agreement from the REALTOR® that you may terminate your agreement then you are bound to the terms of the agreement until the agreements term has passed. If you do not like the agent you are using you can ask to terminate the agreement or to have it transferred to another REALTOR®, but there is no obligation on the REALTOR® to do so unless they have not followed the terms of the contract.
Both of these "agreements" are designed with the purpose of protecting and informing the purchaser of their rights and obligations. Part of protecting you, for a REALTOR®, is protecting your personal information which can only be done if you are not giving that information to other REALTORS® and sellers in the area. With the representation agreement there is usually a guaranteed minimum commission for the agent stated so that the agent will be compensated for the work they do, if you decide to buy a home in the term of the agreement. However, there is nothing in the Buyer Representation Agreement that states that you have to buy anything. It only states that if you buy a home that you will use this particular brokerage and that they will be compensated for the service provided.
So please remember a "customer service agreement" means "Buyer Beware".
Have questions call me, post your question as a comment in any of my blogs postings (I will answer it with a new post) or you can contact me through any of my websites including
www.AndrewHodgeREALTOR.comHappy House Hunting
Andrew Hodge
