Tricky Situations with Real Estate Agents
Real estate agents are known for their impressive satisfaction ratings, with nine out of ten buyers expressing their willingness to work with them again or refer them to others. However, there’s always that one-in-ten chance of ending up with an agent who falls short of expectations. Here are some potential deal-breakers to watch out for:
1. Dishonesty
Trust is paramount in any professional relationship, and this holds true for your real estate agent. If you suspect dishonesty, it’s crucial to address the issue promptly.
2. Failure to Fulfill Contract Obligations
Your agent should adhere to the terms outlined in the contract. If they consistently fail to meet their obligations, it’s a serious cause for concern.
3. Inappropriate Price Adjustments
Lowering your asking price without solid comparable data to support the change can be detrimental to your sale. It’s important to ensure pricing decisions are made with precision.
4. Lack of Communication
Open and timely communication is the cornerstone of any successful real estate transaction. If your agent falls short in this area, it can lead to frustration and misunderstandings.
5. Poor Attitude
A negative or rude demeanor, whether directed towards you or potential buyers, is unacceptable. It can hinder the entire process and leave a lasting negative impression.
Taking Action: Handling a Difficult Agent
Before considering terminating your contract, approach the agent’s real estate firm to address the issue. Agents and their firms rely heavily on satisfied clients, so giving them an opportunity to rectify the situation is crucial.
Exploring Contract Cancellation
Check your contract for a cancellation clause, which outlines the conditions for terminating the agreement before it expires. While agents are not obligated to end the agreement without this clause, most will be willing to work with you if you communicate your concerns respectfully.
Potential Considerations:
- Termination Fee: You may owe the agent a fee to cover their upfront costs.
- Contract Expiry: You might need to wait until the contract period ends before seeking another agent.
- Commission Obligation: If a buyer first viewed your home while the original contract was in effect, you may still owe a commission to the initial agent.
Breach of Contract: When Things Get Sticky
If the agent fails to fulfill their contractual duties and you can provide evidence, you may consider pursuing a claim for breach of contract. However, be aware that this could lead to a legal dispute, which may not be the preferred route for every homeowner.
Finding a Trustworthy Agent
When it comes time to find an agent you can rely on, explore Dave’s nationwide network of real estate Endorsed Local Providers (ELPs). These professionals are known for their high-energy, high-octane approach to real estate, ensuring you have the support you need to get your home sold.
