Home Selling in 75605>Question Details

Ninepines, Home Seller in 75605

Can we terminate our contract with our real estate agent?

Asked by Ninepines, 75605 Thu Nov 4, 2010

We don't trust our agent because she brought her child to us as buyers, and since then we don't trust that she's working for us. We are frustrated and don't feel like our interests are her first priority in this. Can we terminate our contract with her?

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Very likely, you can. But, why would you? The moment we have a personal interest in a home, or bring a party into a transaction who happens to be a relative, we must disclose this to our client. If she listed the house and also brought you a buyer, then she has done the jobs of both the listing agent and the buyer's agent, and would deserve compensation accordingly. However, she has to now be neutral with both parties of this transaction - not just with you. She is now an Intermediary. Just say 'no' to any pressure to reduce your price further. There should be no pressure, no advice, no professional opinion coming to either party from her t this point. If they want your house, they'll buy it. If it wasn't a good value, she never would have brought her relatives to see it as a possibility. If they don't want to pay your price, they can walk away and buy another home. It's called negotiation - and it gets no less complicated with the next buyer, so If they're a fully approved buyer, you would be foolish to let them get away. These days, that's a hot commodity.
1 vote Thank Flag Link Thu Nov 4, 2010
Thank you all for your guidance. I didn't realize that this would be such a great resource.
0 votes Thank Flag Link Thu Nov 4, 2010
There are a few things that you should do.
First of all, it will be in your best interest to approach them in a professional manner in regards to voiding the contract. The major issue that you might face with this is that you might be financially obligated to them regardless of who may purchase the property. Hopefully your contract is a short one, say 3 months.

Next thing to do is to contact the broker who she works for. If she is making your life difficult, then let the broker know. Most professional brokers will approach the situation with wanting to make you happy.
If this takes assigning another agent, then that may work. The broker would be able to void the old contract, so make sure that it is.

Also, note that there is a date associated with the contract ending that extends the date further out, for closing and etc.

Best of luck and hope that it works out for you...
0 votes Thank Flag Link Thu Nov 4, 2010
It really depends on why you want to cancel your agreement. If you are unhappy I feel like if you and the agent can come to an agreement there should not be a problem. It also depends if her children were really intrested buyers looking for a home. Look at your listing agreement and see what terms you agreed too. If I have a seller that is unhappy with me and I can not show proff that I am working hard for them, Then I will allow the seller to withdraw their agreement with me. If you can not communicate with your realtor then speak to the agents broker. If they agree to let you out of your listing agreement, ask that it be unconcitional. If it is unconditional then you can relist the property other wise you will have to wait a certain amount of days
0 votes Thank Flag Link Thu Nov 4, 2010
Thank you both for your answers. We are actually under contract on the house and the land survey showed less acreage than what the legal description and deed show as belonging to us, so because of that discrepancy the agent and the buyers, who are the agent's child and the child's spouse, are pushing us to come off the price even more, although we are already at our bottom line. We are discouraged and can't fathom that our agent could possibly have our interests as the seller and her clients above that of her own children. And we don't trust her at all.
0 votes Thank Flag Link Thu Nov 4, 2010
It depends. You certainly may terminate the agreement, and take the house off the market. But, depending on your listing agreement you may not be able to re-list or sell without owing a commission.

You need to speak first with the agent. If all she did was bring a family member to view the house, that may not be cause to dismiss. Maybe they are legitimate buyers?

If you cannot resolve your differences, speak with the agents Broker and asked to be released from the contract. Your contract is with the Broker. The broker will likely attempt to assign it to another agent. Just stick to your guns. You will get it resolved.
0 votes Thank Flag Link Thu Nov 4, 2010
Yes.

Ask your agent to be released from your buyer's agreement. (It's a contract, so both parties must agree.) If she declines, then go to her broker. Ask her broker to release you from the buyer's agreement with that agent. Technically, the agreement is actually between you and the broker. As a result, the broker will very likely want to assign someone else from the same office to represent you. And that's OK--just interview the prospective agents before selecting one.

Hope that helps.
0 votes Thank Flag Link Thu Nov 4, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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