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How long ago did you sign the agreement? If it is recent there is usually a 3 day right of recision with most contracts. Check you local area to inquire about this. If that is not an option than can you talk with your realtor and try to work it out. Maybe a conversation may go along way to resolve it. If not then be honest and inquire if you could mutually agree to terminate the agreement. One year does seem rather long and may not benefit either of you in the long run. I hope this helps and I wish you the best in working this out. Believe and Achieve! - Joe

I signed it in August. So that is not an option. I might just have a talk with her. Hope it works. That's a big newbie mistake. I talked with her and told her what I wanted to do (flipping REO) and she was fine with that. But now I might actually not get this house I made an offer on and I feel like she could have been more aggressive. I will keep you posted. Still waiting on news about the house. If I do get it, it will be my first. Keeping my fingers crossed.
Thanks for your help
Uma

I was reading shanegore08's Journal a couple days ago and he had done the same thing. He was able to get out of the contract by doing what Indiana-Joe just advised you of, speaking to her and politely backing out of the contract.

This was my response to shanegore08's journal. As you are in the same situation I figured I could re post what I wrote here.

I am new to all this still but right now im trying to familiarize myself with all types of contracts in the REI business. As far as the "Exclusive buyer broker agreement" All I know is what I learned from Dean. And that is that Everything in real estate is negotiable! Everything! So as far as i know, it all depends on what it says word for word in your contract. Ethically as far as im concerned, if she is a professional--a good honest to god professional in her line of work and you are bound to her exclusively as your representation for all your buyers then she should promise to deliver satisfaction in every deal to you and the buyer. If not, again ethically speaking, if she as a professional does not deliver or if you are for any reason unsatisfied then there should be a condition in the contract to release both parties from said obligations.

Like I said Im new to all of this so I might just be thinking about what is fair. Either way its food for thought.

I wish you the best Uma and I hope it all works out in your favor. After you speak to her you should post again and tell us what happened as it might be helpful for another member on the site. Again, best wishes.