Final answer:
To terminate a buyer agency agreement, Anna May and her agent must mutually agree to the termination in writing, following the terms specified within the agreement. This mirrors termination protocols observed in real estate contracts, where written notice is standard for ending agreements.
Step-by-step explanation:
Terminating a Buyer Agency Agreement
When someone like Anna May wants to terminate her buyer agency agreement due to dissatisfaction with the services provided, the proper course of action typically does not involve filing a lawsuit or paying a termination fee spontaneously. According to the general principles of contract law and usual real estate practices, an amicable termination of an agreement would require the mutual consent of both parties involved. Therefore, both the buyer and the agent would need to agree to the termination in writing. It is, however, always recommended to review the specific terms and conditions laid out in the buyer agency agreement, as they can dictate specific procedures for termination which should be followed.
Reviewing the provisions you have provided, it becomes evident that when possession cannot be delivered or the lease period has expired, a written notice is an appropriate form of communication in real estate contracts to indicate termination. Although these clauses pertain to landlord-tenant situations, they demonstrate the importance of written communication in agreements regarding property. This sets a precedent for written consent being a plausible requirement for termination of various contracts, including a buyer agency agreement.