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We are about three weeks from the end of the current contract to sell my home. Had about 10 showings, no offers yet. The Realtor is also my buyer agent for a new build that I picked out without the agents help.
The agent has done a decent job with marketing, but I feel that we may have started out a bit too high on the asking price, even though it was about 10% less the comps in my area. Our personality have clashed a bit also over the past few months. She started out selling us the sky, saying that we will sell in two months for sure. Now we are almost five months later and frustrated.
I would like to take our marketing in a different direction after the contract expires. The problem is that the agent is also our buyer agent and if we hire a new agent, I want to remove her from the new house contract. As for the buy, all she did was sit with us through signing and made a couple of emails when I had questions. What is the best way to remove her but keep the current contract on the new build?
We have done everything the agent has asked us to do. Kept the house show ready with two home schooled kids, never turned down a showing, had two open houses, dropped the price twice. I would just like to go our separate ways and see what happens.
Then do it. This is business, not personal. Of you aren't happy with her, you have every tp right to change realtors.
Since she did not "procure" the new build house, I don't believe I owe her or the builder owes her anything correct? She is on the contract though as representing me.
Since she did not "procure" the new build house, I don't believe I owe her or the builder owes her anything correct? She is on the contract though as representing me.
Sorry, but if she's got a buyer's agency contract to represent you and during the time of the contract you bought a house ... even if she did very little to assist in that purchase ... she is entitled to her earned commission for the services rendered. You cannot "uncontract" her for that transaction, at least in any state that I know of. She will be looking to you for her earned commission, not the builder.
But you can keep the sales contract on your existing home as a separate deal. Decline to renew her contract for that when it expires, and you don't need to go into details.
Hire your new agent for your house and go forward. Wouldn't be the first time in the history of a real estate sale that a new agency/agent was retained by a seller.
You're talking about two different contracts. One, the sale of your home. Two, the purchase of your new home. Your chance to object to having her as your representative was before the contract for your new home was signed. Since it's new home construction, there really isn't much for her to do at this point -- most builders have a pretty standard contract, and most of your negotiations are with the builder directly. Taking her off generally isn't going to affect your bottom line.
On the sale of your own home, you simply politely and in a business-like fashion tell the agent, when she asks, that you will not be renewing the listing with her. You can be honest -- "You gave it your best shot, but I feel like we need some fresh energy on this listing." HOWEVER, a caveat: If you are going to go with a new agent at a lower price, I think it's a little unfair to your current agent -- if you're willing to take a lower price, why not just lower it now and see what happens? As you indicated, the agent has done decent marketing -- at this point, it's basically a price issue.
Re: the buy side of things, you owe her commission. You have a signed contract that has her representing you; you can't decide to renege on the contract after everything has been signed and made legal. I mean, you can, but you'll end up in court and most likely lose; not really worth the headache IMO. You can, however, express your displeasure with her to see if that will make her more attentive to your needs and provide better service.
Re: the sell side of things, just tell her you won't be renewing the sales contract. This is a performance-based business, end of story; if she hasn't come close to getting your house sold after 6 months, she can't really complain about not having her contract renewed.
A builder is not going to risk their reputation by removing an agent from a fully signed and executed contract. They have agreed to pay a commission, and they cannot go back on that.
As for the sale of your current home, go find another agent if you want. It sounds like you possibly did a commission negotiation on the listing side for that agent to be on your buyer's side, and that's possibly why you want her removed from the new home contract?
We are about three weeks from the end of the current contract to sell my home. Had about 10 showings, no offers yet. The Realtor is also my buyer agent for a new build that I picked out without the agents help.
The agent has done a decent job with marketing, but I feel that we may have started out a bit too high on the asking price, even though it was about 10% less the comps in my area. Our personality have clashed a bit also over the past few months. She started out selling us the sky, saying that we will sell in two months for sure. Now we are almost five months later and frustrated.
I would like to take our marketing in a different direction after the contract expires. The problem is that the agent is also our buyer agent and if we hire a new agent, I want to remove her from the new house contract. As for the buy, all she did was sit with us through signing and made a couple of emails when I had questions. What is the best way to remove her but keep the current contract on the new build?
We have done everything the agent has asked us to do. Kept the house show ready with two home schooled kids, never turned down a showing, had two open houses, dropped the price twice. I would just like to go our separate ways and see what happens.
This of course is not legal advice. You should always contact your lawyer with legal questions. However in my opinion you are stuck with her on the buy. For better or worse, she is in the contract as your representative. Of course for purposes of selling your home, you are free to dump her when the listing expires, and that's probably what you should do based on the fact that you have lost confidence in her. 10 showings during an entire listing contract is totally unacceptable, unless your home is highly unusual or very expensive. If it is a run-of-the-mill home, you should've had 10 showings in the first week. If not, then your price was probably way too high.
I'm going to guess that she gave you a reduced commission on the sale because she was getting two transactions. So now you want to get rid of her so you can offer the same deal to a new agent. That's probably not going to work. You're going to have to offer a standard commission on the sale of your home. If I guessed wrong, please accept my apologies and ignore this part of my commentary.
This of course is not legal advice. You should always contact your lawyer with legal questions. However in my opinion you are stuck with her on the buy. For better or worse, she is in the contract as your representative. Of course for purposes of selling your home, you are free to dump her when the listing expires, and that's probably what you should do based on the fact that you have lost confidence in her. 10 showings during an entire listing contract is totally unacceptable, unless your home is highly unusual or very expensive. If it is a run-of-the-mill home, you should've had 10 showings in the first week. If not, then your price was probably way too high.
I'm going to guess that she gave you a reduced commission on the sale because she was getting two transactions. So now you want to get rid of her so you can offer the same deal to a new agent. That's probably not going to work. You're going to have to offer a standard commission on the sale of your home. If I guessed wrong, please accept my apologies and ignore this part of my commentary.
Thanks for all of the advice so far. As to the first part, the initial asking price in hindsight was too high, but other homes for sale in the neighborhood was also. We have all lowered our prices. My house though was the lowest in comparable size and features by at least 10%. She totally agreed with the amount of the initial asking price and did not try to talk me down.
I had hoped she would discount the sell commission when I offered her to be my buyer agent, but she did not. Still 6% on the sale and whatever she is getting on the buy.
I'm just moving down the street to a larger home. When I first got-preauthorized for my mortgage I didn't realize that I could qualify for two mortgages. Also at that time the agent had soooo much confidence we would sell the home at close to asking price I was of course happy. Now $11k lower later and still waiting on a offer which will come in even lower I expect, plus 2-3% seller closing costs.
I found through a friend a company that will act as my buyers agent then also as my property manager with guaranteed rent. This just came to light last week when no offers were coming through. I feel that this will be better for my family in the long run. I would like to have an investment home. But I will need to remove her as my buyer agent to make this happen. From the comments here, it appears the only chance I have is to tell her the situation and she if she removes herself from being the buyers agent. Appears unlikely though.
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