3 Signs You Should Fire Your Real Estate Agent

Whether you’re buying a home, selling a home, or attempting both at the same time, working with a real estate agent could make the process much smoother. Plus, if you’re selling a home, using a real estate agent could help you wind up with a higher sale price.

While you may think you’ve found the right agent, you may also find that in time, you’re unhappy with the arrangement you’ve entered into. Here are a few telltale signs it’s time to give your real estate agent the boot.

6 Simple Tips to Secure a 1.75% Mortgage Rate

Secure access to The Ascent’s free guide that reveals how to get the lowest mortgage rate for your new home purchase or when refinancing. Rates are still at multi-decade lows so take action today to avoid missing out.

By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time.
Please read our Privacy Statement and Terms & Conditions.

1. Your home isn’t selling

In today’s housing market, homes are selling rapidly, so if your home has been sitting on the market for months with little buyer interest, it’s a sign that your real estate agent may have done something wrong. It could be that your agent priced your house too high, or isn’t marketing it well enough. Either way, if there doesn’t seem to be any movement in selling your home, think about cutting ties.

READ:  Some Wells Fargo Customers May See Credit Score Drop Due to Account Closures

That said, when you decide to work with a real estate agent, you usually sign a contract giving that agent a certain amount of time to get your home sold. If you attempt to let your agent go early, you may be in breach of contract. However, your agent might also be willing to walk away. It’s worth having that conversation if things aren’t working out. (When you’re buying a home, you don’t pay an agent a fee, so there’s generally no penalty for firing an agent unless you’re selling.)

2. Your agent doesn’t communicate well

One important thing to look for in a real estate agent is strong service. If you’re having a hard time reaching your agent, or he or she doesn’t respond to your calls or emails in a timely manner, then it may be time to work with someone who’s better at communicating.

3. Your agent pushes you outside your financial comfort zone

If a real estate agent is helping you buy, that agent should listen to what you’re looking for — and should be respectful of the budget you present. So if your agent keeps trying to get you to bid above the top of your price range, it’s a sign you should move on. Remember: you have to pay the mortgage on a more expensive home — not your agent. If you’re pressured to get in over your head, it’s worth walking away.

READ:  5 Smart Ways to Use Spare Cash During the Pandemic

Buying or selling a home can be stressful enough in its own right. Throw the wrong real estate agent into the mix, and the process can be even more draining. If you’re worried you’ve chosen the wrong agent despite doing your homework, don’t hesitate to cut ties as long as it doesn’t violate a contract. You have little to gain by working with a real estate agent who isn’t doing his or her job well, and doesn’t have your best interests in mind.

View more information: https://www.fool.com/the-ascent/mortgages/articles/3-signs-you-should-fire-your-real-estate-agent/

Articles in category: the ascent

Leave a Reply

Back to top button