Is it time to Say Goodbye to Your Real Estate Agent
In all relationships, ending a relationship can sometimes be difficult, especially when you are under a signed agreement. Buying and selling homes is more than working with a friend. It is also about making the right choices for yourself and your families best interests. There are expectations when relying on Real Estate Agents to help you Buy and Sell and professionalism should be at the top. If you are unhappy with your real estate agent, there are a few things you can do.
First, communicate your concerns and try to mutually solve the issue with your REALTOR. If you are having difficulty reaching your real estate agent, contact their brokerage. The agreement you entered into is with the Brokerage, not the real estate agent and the brokerage may re-assign a different REALTOR® to you. Most Edmonton Real Estate Brokers are very reasonable and do what they can to help you.
Your agent may also choose to terminate your Listing Agreement or Buyers Brokerage Agreement without any compensation or there may be a clause in your contract with a set dollar amount to terminate the agreement to cover some of the expenses which cost your agent to market the home.
Once you receive the cancellation or termination document, in the province of Alberta, you are free to enter into another agreement with a different real estate agent. Read your termination over before signing. There may be parts in your cancellation agreement that may still be in effect even after the termination.
Below are signs telling you that it may be time to fire your real estate agent.
A breach of Fiduciary Duties (The consumer Relationship Guide) which forms part of your agreement you originally signed with your REALTOR. You have expressed your concerns repeatedly which have not been addressed or worse, have been completely ignored by the other party.
You have no communication with your real estate agent, leaving you in limbo, not knowing what your REALTOR® is doing to sell your home, or the actions being taken to find you a new one. This can be extremely frustrating and you deserve to know what is happening on a regular basis.
Your Real Estate Agent keeps pushing for price reductions without providing the reason. If your home, needs a price adjustment, there will be a reason, whether it is negative feedback from other agents who have shown your home, not enough showings (normally in Edmonton, you should be getting a few showings every week with the exception of multi-million dollar homes), a surplus of recent inventory in your neighborhood, recent economic factors, etc. This information should have been discussed prior to you signing the agreement during the Comparative Market Analysis (CMA) stage.
If you are still interested in selling your home and would like an experienced marketing real estate team to work with you in your best interest, contact us.