Can I Fire My Real Estate Agent?
Whether you are in the market to purchase or sell real estate the assistance of an experienced and knowledgeable real estate agent can be invaluable. Unfortunately, if you end up with the wrong agent it can make your buying or selling experience a colossal failure. Worse still, it could end up costing you money instead of saving you money in the long run. If you are currently working with a real estate agent and you realize he/she is not the right agent for you and your needs you may be wondering “Can I fire my real estate agent?”
The answer to that question depends on whether or not you signed a contract with the agent. If you are selling your home, or other real estate, you most likely entered into a Seller’s agent agreement with the real estate agent. Under that agreement you probably agreed to give the agent a specific number of days or months to try and sell your property. If the property remains unsold at the end of the agreed upon time period you can renew the contract under the same terms, modify the terms and sign a new agreement with the same Seller’s agent, or find another agent.
If you are purchasing real estate you may also have signed a Buyer’s agent agreement with the real estate agent who is helping you find property. These agreements do not typically specify a time period, however, within which the agent must find you a suitable property. Instead, a buyer’s agent agreement usually does nothing more than explain the terms of the relationship and explain how commission and fees will work should the agent help you find a property.
Whether you are under contract with an agent or not, you may still be required to pay commission or a fee to the agent if you purchase a property that the agent located for you and showed you. For example, imagine you are working with a buyer’s agent and the agent shows you a home in your preferred neighborhood. You are not prepared to make an offer at that time. Two months later, however, you decide to take another look at the property after touring numerous other options. In the interim, you severed your relationship with your real estate agent. If you decide to make an offer on the property yourself, and the offer is accepted, you may owe the originally agent a commission or a fee because he/she found the property for you while you were still working with the agent.
If you find yourself in a position where you feel the need to fire your real estate agent the first thing you should do is to read through your contract or agreement, if you have one. If there is any question as to your obligations under the agreement you should then consult with an experienced Conshohocken, Pennsylvania real estate law attorney as soon as possible to discuss your options. Contact the real estate attorneys at Curley & Rothman, LLC by calling 610-834-8819 today to schedule your free consultation