How do I fire my real estate agent?

How do I fire my real estate agent?

How do I fire my real estate agent? Q: How do I fire my real estate agent?

A: If you’ve made a mistake, the best thing to do is to correct it and move on. If you’ve hired the wrong real estate agent to represent you, fire him. Do it professionally and in writing. Although, your listing contract is usually for a period of three to six months, you are entitled to terminate at any time. This is done by way of a standard form – the Cancellation of Listing form (different associations have different names for it).

Simply inform your agent that you would like to cancel the listing and ask him to provide you with the Cancellation of Listing form. If he fails to do so, then you should contact his broker to tell him about your grievances with the agent. You should tell the broker this anyway.

 

Q: Is there a cancellation fee?

A: No. There is no cancellation fee in the standard agreement. There is a local Kitchener Waterloo Realtor who’s website claims that there is a cancelation fee. I checked with my broker he’s never heard of cancellation fees. Weird. Why would he say that if it’s not true?

 

Q: Will I still have to pay commission after I fire my agent?

A: If there is a buyer that you are in the middle of negotiations with or if a buyer was introduced to you during the listing period you will have to pay your agent a commission. That’s only fair as it was his work that lead to the sale.

 

Keith Marshall Kitchener Waterloo's RealtorQ: Who owns the listing?

A: The brokerage owns the listing, not the agent. If you have a problem with the agent, call the broker. If you have a problem with the broker, call consumer affairs and the local real estate association.

 

Q: Can I hire another agent immediately?

A: Yes. However there is a holdover period with your original agent. That means if a buyer introduced by the original real estate agent buys your home during the holdover period, your original agent would have the right to claim a commission. This could get complicated and may lead to legal action.

 

Q: What’s the difference between canceling the listing and withdrawing the listing?

A: If a listing is withdrawn, it cannot be re-listed with another agent until after the expiry date (usually 3-6 months).

 

Q: Can an agent fire a client?

A: Yes. By mutual consent with the same forms.

 

Q: I signed a Buyer Agency Agreement. How do I get out of it?

A: The same way. Ask your agent for a Termination of Buyer Agency Agreement (or some such name). This does not allow you to approach a seller that has been introduced to you while working with your realtor. If you do this, you will have to pay a commission.

 

 Learn more about real estate and real estate agents. Read: 365 Rules about Real Estate

Further reading: How many cooling off days do I have?

Edit: Please don’t message me about firing your agent. I know you might want to vent but I have nothing more to add to the discussion.

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