Breaking up with your Realtor® shouldn’t be that hard. After all, it’s just a business relationship that didn’t work out, and you’ve changed dentists before when you found better service elsewhere. Nevertheless, many homebuyers and sellers stick with an agent that isn’t meeting their needs simply because they want to avoid the potential drama of a breakup. This could cost them valuable time and money if their values don’t align with their agents.
It doesn’t have to be this way.
You can gracefully part ways with your Realtor® when you communicate openly and honestly about your concerns. However, there are a few things you should take into consideration before having that final breakup conversation.
Signs That It’s Time to Move On
At its heart, real estate is a relationship-based business model. As with any relationship, the two parties mesh better when their communication styles and values are the same.
Communication Problems
If you’re the kind of person who never answers the phone, then an agent who prefers to call and chat about open houses is going to rub you the wrong way. If you work the graveyard shift and your agent likes to text you at 11 a.m. no matter how many times you remind them that you’re sleeping, then you know they’re not really listening to you. The number one quality of a top-performing agent is that they’re an excellent communicator, so when your Realtor® isn’t listening to you, you’re right to be concerned that your needs will not be met.
Mismatched Values
You’ve figured out your budget, and you know that the best choice for your situation is a two-bedroom home within 15 minutes of your workplace. Yet your Realtor® keeps showing you McMansions out of your price range. Because they’ve only sold massive homes in the suburbs, they’re having a hard time conforming their search parameters to your desires. When it feels like a waste of time to trek out to the suburbs to look at a home you don’t want, then it’s time to admit that you and your Realtor® don’t share the same vision.
Can You Legally Break Up With Your Agent?
Before you call up your agent and deliver the “It’s not you, it’s me” speech, you’ll need to double-check that you can end the relationship.
Buyer’s Agency Agreement
Even though real estate is a relationship-based business, you’ll still sign contracts when you first hire your buyer’s agent. This initial contract, called a buyer’s agency agreement, stipulates the terms of the financial agreement between you and your real estate agent. Typically, a buyer’s agency agreement will cover these three areas:
- How much commission your agent will receive
- The length of your contractual agreement
- The best way to terminate the contract
The buyer’s agency agreement may also have an exclusive clause, which means that the buyer’s agent is guaranteed a commission on any home you buy within the timeframe of your contract.
If you’re near the end of your contract with your agent, it may make more sense to let the contract expire. Some buyer’s agency agreements have a termination fee written into the contract if the contract is canceled before the end date. Read your contract carefully to see what your legal options are for ending the contract early.
What if the Agent Is a Close Friend or Family Member?
Breaking up with a Realtor® becomes dramatically harder when it’s someone with whom you had a pre-existing relationship. You’ll need to weigh how much of your social capital will be damaged if you end the business part of your relationship against how much money you might lose if you continue working with them. For close friends and family members, it might be best to sit down and have a serious conversation with them about how you feel before you terminate your contract.
To preserve your relationship, make a list of your concerns before sitting down with your agent so that you can present all of the issues. If your friend or family member isn’t interested in resolving the problems between you, you can feel confident leaving the partnership knowing that you did your best to salvage the relationship.
How to Face the Actual Breakup
Agents work on a commission basis, and they invest a lot of time and effort in a home sale before they see a paycheck. Acknowledging the work your agent has put into your homebuying process can go a long way towards smoothing over hurt feelings. When you’ve decided that there is no other course of action, here are five simple steps to take to thoughtfully end your relationship with your real estate agent:
- If you don’t love difficult face-to-face conversations, there’s nothing wrong with choosing to call, email, or text your agent about your decision to try someone new.
- Thank your real estate agent for their time.
- Be honest, not angry, about your decision.
- Consider offering them a token of appreciation for the work they did do on your behalf, such as a gift card to a local restaurant.
- Wish them the best of luck as you part ways.
Breaking up with your Realtor® doesn’t need to be a long, drawn-out affair. By keeping it short and sweet you will more easily make your point without burning bridges.
How to Choose a Better Agent Next Time
Rather than choosing a Realtor® out of convenience or obligation to a friend or family member, take the time to interview them. After breaking up with your last Realtor®, you’ll have a much better idea of the kind of personality traits you’re looking for in an agent. This AgentStory article has 10 interview questions that you should ask your next agent.
The Bottom Line
It’s uncomfortable to end any relationship, but contracts and pre-existing relationships can make it especially difficult to break up with your Realtor®. When you approach the situation with grace, you can extricate yourself from an unproductive relationship with a minimum amount of fuss and guilt.
As you look around for an agent who understands your needs, choosing one who truly gets the kind of neighborhood you’re interested in, or the budget range you’re aiming for, can make your buying process a breeze. AgentStory uses data from a real estate agent’s past transactions to help buyers understand what kind of institutional knowledge and experience an agent has.
