The Pepper Group
3865 E Via Del Verdemar Tucson, AZ 85718
You Can Fire Your Realtor
Most homeowners think that when they sign into a contract with a Realtor they are bound to it. We've heard countless stories of Realtors just taking a property listing, putting it on the MLS (Multiple Listing Service), and hoping for the best. A resulting sale is very rare in today's market, unless a property is way under FMV (Fair Market Value).
Remember: it's your property, and you deserve the best quality in the sale of it. Before you sign anything, make sure there is a right to cancel the contract under non-performance circumstances clause.
Your house is a large investment that should be taken seriously. We always tell our clients, "If you're not happy with our performance, fire us," because in reality, you're hiring us when The Pepper Group Diversified Real Estate Company lists your property. Contact us now. The Pepper Group Diversified will be glad to guide you. Our consulting services are free to you and there is no obligation at (520) 977-0003 or info@ThePepper.com.
How to Fire Your Real Estate Agent
Nobody likes to talk about actually "firing" somebody, but sometimes you're just not happy with the service you're receiving and you need to part ways. However, when it comes to your real estate agent, before you evoke Donald Trump and yell, "You're fired!" there are some rules of etiquette, as well as some legal technicalities that you need to consider before cutting them loose.
The first thing that needs to be determined is whether or not you've signed a contract. If your agent has listed your home for sale, you probably do have a contract. You probably sat down with them and discussed things like commission, list price and marketing strategies for selling your home. And, at the end of the meeting, you most likely signed a contract, authorizing your agent to represent you for a specified length of time. If this is the case, you need to sit down and review your contract, as each one varies slightly. Some contracts will be able to be broken, in writing, by either party; however a commission may still be due to the agent if you sell the home within a certain number of days. Other times, the contract may not be broken until after a specific date. And so, before you fire your real estate agent, it's crucial that you read the fine print on the contract you've signed.
If you are a buyer, there is a 50/50 or greater chance that you've signed a Buyer's Agency Agreement or similar contract. Such contracts typically protect both parties; the agent promises to find the buyer a home with due diligence and honest and trustworthy dealings, and the buyer, in turn, promises to buy any homes that the agent shows to them through that particular agent-as opposed to cutting them out of the deal. This prevents buyers from using another agent at the last minute (after the first agent has done all of the work) or from somehow working a behind-the-scenes deal with a seller, without agent representation. Again, it's possible that if you have a signed Buyer's Agency Agreement that it can be broken in writing. However, read the fine print to be sure.
The key when considering whether to terminate your real estate agent is first determining whether or not it's even legal or ethical to do so. If you're a buyer who simply wants to purchase a home without your agent's help, either because you believe you'll get a better deal, or have been wooed by another realtor -- or if you're a seller who has suddenly decided you'd rather do a back-door, one-on-one deal with a buyer -- then it's probably not possible, nor ethical, to fire your real estate agent. However, if you're a buyer or seller who has a personality conflict with your real estate agent, or simply aren't happy with their services, then by all means discuss it with your real estate agent and terminate your working relationship.
In the end, most conflicts can be settled simply by talking with your real estate agent. It's possible that the negative feelings can be remedied with conversation and understanding. However, if the situation is really that bad, they will probably also feel that ending the relationship or terminating the contract is the best thing to do. And it's likely that the two of you will be able to fire each other as appropriately as possible.
Simply request termination of the contract with the Realtor. If the Realtor refuses, request termination with the Broker (the real estate company) of the Realtor you are working with. If the Broker refuses, request termination with the state association. Most Realtors will allow termination of a contract for valid reasons. Sometimes the process of selling a home may not have been clearly explained in the beginning by the Realtor you selected. Sometimes the seller comes to the table expecting too much from the Realtor depending on the product to sell or current market conditions. Both you and your Realtor will need to execute a termination agreement.
Again, it is worth repeating: if you are unsatisfied with the service you're getting, the first step is to call the agent and state your concerns. As a seller, ask to see what's been done to sell your house, how many showings they've had, what the buyer comments have been, and if they have any recommendations on price, minor repairs, etc. Tell the agent that you expect some showings, or in a slow market, good communication. If your agent is not available or refuses to return your call -- go to the Broker of the firm.
Then, give them a week to get on track. If you're still unhappy, call back and tell them you are cancelling the listing and you'll be in to pick up their signed release. This is an important point. Do not withdraw your listing, because that signifies that the house is merely going off the market. If you list it elsewhere, you will still be bound to paying a commission if the purchase agreement happens prior to the last day of their listing.
If the broker refuses to let you out of the contract and you feel you have good cause to cancel, call your state Board of Realtors. They should be able to help you without you needing to pay an attorney. A listing IS a binding contract, but if one party refuses to act in good faith, the other one does have a right to break the contract.
The two most important points to remember are the words "cancel" and the "signed release." Without those, you could end up paying a DOUBLE commission. And nobody wants to pay someone for not giving service.
One last word: don't try to fire your Realtor if they've been giving service but you happen to stumble over a buyer on your own. It's dishonest, unethical, and the money you save isn't worth the price of knowing you've acted illegally and unethical.
Contact us now. The Pepper Group Diversified will be glad to guide you. Our consulting services are free to you and there is no obligation at (520) 977-0003 or info@ThePepper.com.
How Do You Know When It's Time to Say Goodbye?
The best thing you can do for yourself (and for others) is to end a relationship before it escalates to the point where you want to hurt each other.
If you're a client who is unhappy with your agent, your entire home selling / buying experience -- which should be a pleasant and happy time for you -- will be affected by this negative attitude. You will probably need to fire your agent.
If you're an agent ticked at a client, you're wasting time and blowing energy that could be channeled into more profitable ventures. In other words, you probably need to fire your client.
Here are some of the signs telling you that it's time to call it quits:
How do agents and clients reach the boiling point? It can happen to anybody. Say, the market changes. Prices start to fall, and an agent calls her client to let them know the price they thought they could get is no longer viable. She advises them to lower the price and provides them with recent comparable sales and market trend statistics to validate her advice. But the client, for example says, "I don't agree; my husband has done research on the Internet. We can get our price."
Communication Issues: the single most commonly heard complaint that clients voice about their agents is dissatisfaction with communication. Some say it's the client's fault for not establishing preferred methods of communication upfront, and others say it is the agent's responsibility to ask the client what is expected of the agent. The Pepper Group Diversified believes the agent should determine the policy and then adhere to it. It can be very irritating to work with an agent who doesn't promptly respond to voice mails, text messages or e-mails. If that happens to you, it might be time to fire the agent and hire somebody else.
How to cancel agreements and contracts: you've determined that you're fed up and want out. How do you do it? Legal issues aside, The Pepper Group Diversified Real Estate Company is not a law firm and cannot give legal advice, the best way is by mutual consent. Do not enter into a contract in the first place if the other party will not mutually agree to a release if requested.
Canceling listing agreements:
Canceling a buyer's agency agreement:
Unless you already know the best professional to help you don't accept just anyone. It bothers us greatly when people get mediocre service, lose money and/or get into legal problems. Contact us now. The Pepper Group Diversified will be glad to guide you. Our consulting services are free to you and there is no obligation at (520) 977-0003 or info@ThePepper.com.
Tucson Weather . Arizona Homes . Arizona Real Estate . Tucson Arizona . Tucson Real Estate
Copyright © 1995-2010. The Pepper Group Diversified. All Rights Reserved
Diversified Real Estate
3865 E Via Del Verdemar Tucson, AZ 85718
Tucson Real Estate