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.
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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.
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.
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/