Buying or selling a home can be a stressful situation. When you are having
issues with your agent, it can become untenable. The most common
complaint from clients is that their agent does not communicate with them
enough and aren’t responsive to their needs. While all relationships can
have differences, how do you know if it’s time to fire your real estate agent?
If the relationship has reached the point where it’s unproductive, it’s
typically better for both parties to terminate the agreement. If you find
yourself dreading a conversation with your agent or if you complain about
them to others, then you are wasting valuable time by trying to salvage the
relationship and it may be time to move on.
Firing a real estate agent is not as simple as it sounds, however. A listing or
buyer’s agent agreement are legal contracts with an agreed-upon time
frame. Unless the agent agrees to cancel the contract, you are obligated to
continue working with them. One suggestion is to reach out to the broker of
the agent to ask to cancel or work with another agent; the contract is held
between you and the brokerage, so they have some flexibility. You may
also offer the agent a referral fee, paid when the transaction concludes.
Choosing the right real estate agent is a critical component of a successful
transaction. Before signing any contract, understand the options for
cancellation and add a clause, if possible. If you have a contract and want
to fire your agent, stay calm and work with your agent and their broker to
find a fair solution.
How much Equity do I have in my home?
To determine how much equity you have in your house,