If you have engaged a real estate agent in Western Australia to sell your house, you have every right to a change if their service or results have not gone well. But first, you have got to go through your agency agreement. Most exclusive agreements detail their fixed term, and breaching the contract prior to that date will attract some fees or penalties. First, ensure that you understand all the conditions of your agreement before making changes. It’s also prudent that you line up another agent so that such delays in selling your property are not further witnessed once you have changed agents.
Understanding the Agency Agreement
Once a home seller has first decided to sell a house through a real estate agent, there is an agreement that states what the agent and the seller are responsible for and under what terms the house will be sold. Most agreements are either “exclusive” or “open.” Exclusive agreements tie you to one agent for a pre-determined time whereby only the agent can sell your house. Always read through the contract before switching to avoid breaching the agreement of sale and additional costs. In open listings, many agents can work on selling your property, giving you an opportunity to switch with ease.
Common Reasons for Switching Agents
The various reasons for which most homeowners change agents are usually related to dissatisfaction with the agent’s communication, lack of marketing effort, or lack of buyer interest. If your agent has failed in his responsibility to advertise the property, show open houses, or procure offers, it may be time to start considering other options.
Steps Before Switching
Evaluate Performance: Do not change agents before you are quite convinced that they have received their due in terms of performance time. The real estate market has its ups and downs, and sometimes, selling times can take a little longer. With an appropriate price on your home, and with the agent marketing the property, the blame for a lack of interest may not fall on the agent’s shoulders.
Discuss Any Issues with Your Current Agent: If you are unhappy with the services provided by your agent, discuss the issues directly with him or her first. Sometimes, it is easier to work things out than to switch agents.
Check Termination Clauses: Check your contract for the terms of termination. You may face penalties if you terminate the agreement early. The contract could include a fee for early termination.
Give Notice: If you are certain the agent change is required, give notice in writing within the terms of your agreement. Be sure you confirm when the notice period expires as you might have a few surprise extra costs showing up.
Choosing a New Agent
The first step, after voiding the previous agreement, was to do thorough research and choose an agent that suited what you were expecting. Find an agent who has successfully sold properties similar to yours and one with effective marketing strategies and impressive communication skills.
Changes in agents are never easy, but if planned well, it might as well be a way through which you end up having a better selling experience with a successful outcome.