Which condition must exist for a buyer to unilaterally terminate an exclusive agency agreement?

For a buyer to unilaterally terminate an exclusive agency agreement, a written agreement with the broker is essential. Exclusive agency agreements typically lay out the terms under which a buyer may terminate the relationship. Such agreements are formal in nature and require documentation to ensure both parties have a clear understanding of their rights and obligations.

A written agreement provides definitive proof of the terms agreed upon by both the buyer and the broker, including any specific conditions related to termination. This formal documentation helps to protect the interests of both parties and clarifies the steps needed to terminate the agreement legally. Verbal agreements, changes in financial circumstances, or shifts in property preferences do not provide a solid legal basis for termination, as they lack the necessary written framework that outlines the conditions of the agreement.