How (and Why) to Fire your Real Estate Agent!
June 2nd, 2010 Categories: Home Buying
How to fire your Real Estate Agent – 101
Yes I realize it’s an odd topic coming from me, a top-notch real estate agent, but sometimes we find ourselves in a position where we don’t really know where we stand with a client. Let me clarify – sometimes we don’t always know where we stand with our BUYER clients. It’s pretty obvious where we stand with a seller because 1) we have a listing agreement 2) we usually have a lockbox on the door, a sign in the ground, a listing in MLS and 3) we are usually in pretty close contact with our sellers.
Buyers are a little different! Even with a signed buyer agency agreement, our name is not tattoo’d on our buyers’ foreheads – they are not wearing an ankle bracelet that emits some sort of signal if they are approached by another agent OR if they approach another agent for whatever reason – we are in the dark!!!
Why might this happen? Well, a myriad of reasons beginning with an agent’s lack of competency, lack of market knowledge, lack of responsiveness all the way through things that are beyond their control – perhaps they are geographically less than desirable; or perhaps the buyer has just decided now is not the right time for them to be in the market. There are hundred more reasons why a buyer *might* want to end their relationship with their buyer agent.
My advice to you, as a consumer, is this. IF you would like to end your relationship with your buyer agent, please please please be up front and direct. Be polite (unless the agent really has been unprofessional, dishonest, irresponsible, etc…), be direct, be honest – try this:
“Agent X, I want to thank you for the time that you have invested in us but at this time we have decided to work with another agent because we feel you don’t really have the knowledge of working short sales that we really need to guide us through this transaction.”
“Agent Y, we want to let you know that at this point we will be ending our contractual relationship with you and will no longer require your services as our buyer agent” (you may want to use this one if you feel your agent truly has wronged you and you just need that clean break)
“Agent Z, we really love your market knowledge and your responsiveness to our needs – but we feel we really need someone who is a neighborhood specialist to help us be successful in this competitive market and you live and work 45 miles away. Best of luck to you”
The bottom line is DO SOMETHING – don’t just go dark… I have experienced this as an agent and when a prospective client just goes dark, it’s unclear whether I should continue working for you, providing listings, valuable insight, etc… OR whether you’ve moved on… Also, something very important to consider, if you just stop communicating you could be liable for compensation to that first agent when/if you make a purchase based on the language of your buyer agency agreement – the last thing you’d want to find out is that you actually owe double commission on a transaction simply because you didn’t formally end your relationship.
So… carry on… there’s a lot of great homes to buy – if you’re looking for one – give me a call!
Happy Wednesday
Jennifer
Copyright © 2007 Arlington Dirt Real Estate 
Great post! In the past, I was asked by a realtor to sign an agreement that says that I am locked into using her for a certain period of time (6 months). What are your thoughts about this? I declined and still worked with her, but it was awkward.
Thanks!
Catharine
Thanks for your comments. I do think it’s important to work with a buyer’s agency agreement as it actually has protections built in for both parties – if you’re uncomfortable with it – try to tailor it or customize it to meet your needs and/or concerns. This is a different business… as an agent, I can work with a client for MONTHS without pay and no prospect of pay until/unless they decide to purchase a home, and proceed to settlement with me as their buyer’s agent. It’s really unfair for a consumer to ask an agent to work to educate them, show them property (often giving up time from their family or other commitments) at the customer’s convenience, etc… only for the customer to try to wangle a deal in the end by going directly to the seller. Not saying you did this just illustrating a situation that has happened to most of us (including myself) and completely devalues the time and effort we put into working as hard as we can for our clients. There are creative ways to ensure you’re comfortable – saying perhaps “this agreement is just for this weekend” or it’s just for one particular house. Then, when you’ve “test driven” and you’re ready to commit, you are comfortable.
I hope that’s helped -
That communication is all a good agent really wants. If we are not the right fit, then likely parting ways is best for both parties. In Massachusetts the lightly used Buyer Agent Contract is a great tool. It creates conversations about expectations. As much as the client wants to feel represented and commanding full attention of their agent, the Realtor wants to feel a commitment to them for all their hard work. How wonderful a feeling as a real estate agent in “firing” a client we discover wants to go elsewhere at the drop of a hat? Especially when we have only commited a showing or a weeks worth of email services? Much more empowering than when that 6 month Buyer Client calls to annouce their joy they just put an accepted offer together on a weekend open house listing, with the Listing Agent!