Once you’ve decided that the relationship can’t be repaired with an open, honest conversation, it’s time to look at other options. Depending on which stage in the home buying process you’re in, you may have limited choices. It’s important to remember real estate agents live off commission. If your agent has spent countless hours researching and scheduling showings for you, firing them will mean they worked for you for free. That’s why most agents will ask buyers to sign exclusivity agreements, typically for a limited time frame of 6 months. If you haven’t signed a buyer’s agent contract with your REALTOR®, it’ll be much easier to break up with them. Do for your agent what you expect in return, and be direct and kind. Ask them if there’s a good time for you both to talk, so they can be mentally prepared for the rejection.Before Signing A Buyer’s Agent Agreement
During your scheduled call, tell your real estate agent you’ve chosen to work with someone else and thank them for their time. They may ask if you’ve signed an exclusivity agreement with someone else. You don’t need to disclose any other information if you don’t want to. It’s appropriate to offer feedback if they ask for a reason for your decision. Be prepared with a response.
If you’re turning down a family member or friend, less is more. You may not want to combine business with personal as a rule and they should understand that. Allow them to have their reaction and return to build the personal relationship after they’ve had time to process.
Using Multiple REALTORS®
If you haven’t signed an exclusivity agreement, you can work with two or more real estate agents at a time. Be warned: it is not the best long-term solution, but there are valid reasons to take this approach at first.
Working with multiple agents in the early stages isn’t a bad idea. You can tell them you’re in the “interviewing phase” of your search to hire an agent. During this time, you can get a sense for their punctuality, if you have any personality clashes and you can get a sense of their reputation.
Because agents work off commission, refusing to sign an exclusivity agreement puts you at the lowest priority for an agent. Why would they put in the work to find you a home if they aren’t guaranteed a paycheck from their labor?
The agents who have the capacity to take you on without an exclusivity agreement for the long-term likely don’t have a robust number of clients, which may be a red flag.
Terminating A Buyer’s Agent Agreement
If you’ve signed an exclusivity agreement, firing your agent can be tricky, if not impossible. Another agent will not want to take you on as a client because your current agent has a legal right to the full commission in court.
If you’re unhappy with your REALTOR®, they may know it. You can ask your real estate agent to cancel the contract if you want out of the relationship. One of two things might happen: they could agree they don’t want to work in an untenable relationship and cancel the contract. Or they could refuse and you’ll be stuck with them until the term of the contract expires.
It’s wise to weigh the pros and cons of having this conversation. If you have 1 month left on the contract, it could be easier to let the contract expire. If you’re at the start, the REALTOR® may agree to cancel because they haven’t invested as much time.
