A realtor can be the best or worst factor when you are trying to sell your home – a poor real estate agent can make it far more difficult to sell or buy properties, and may make the experience far more costly for you. But how do you know when a real estate agent is being dishonest or unprofessional, and how can you get rid of them and find an agent that knows what they are doing? Here are the facts you need to know.
Signs You’re Dealing with a Dishonest Agent
How can you recognize a realtor who doesn’t have your best interests in mind? Here are several signs that your realtor relationship is in trouble.
- Omitting Important Details: A dishonest agent will often omit significant details when it comes to selling your house or purchasing a new home. They may not mention their own fees or commissions. They may ignore important title issues or problems with property, either to make a sale as quickly as possible or because they are poor at their jobs.
- Failure to Meet Contractual Obligations: The real estate agreement should lay out important ground rules and obligations for the realtor. Contracts should clearly define the role of the agent, negate any chances of fraud, and define what information the agent should provide. Failure to meet these simple obligations is a sign of a fraudulent or dishonest agent – and one that doesn’t even follow the guidelines of their own contract.
- Changing Your Asking Price Without Letting You Know: This is one of the worst things that a real estate agent can do. The seller should be in charge of the asking price and any counteroffer decisions as a matter of course. An agent who changes the asking price on their own just wants to make a sale as quickly as possible and has no interest in meeting seller requirements.
- Poor Communication: An agent that is difficult to get ahold of and doesn’t respond to emails or phone calls quickly or at all is a poor real estate agent. The quality of communication is also important: You don’t want a terse agent who does not tell you important details or leaves out information – like home showings or inspections – that leads to you getting caught by surprise.
- Disrespect and Negativity: A good real estate agent will also be respectful and positive. A poor or dishonest agent will often treat sellers and buyers as a waste of time.
Signing a Realtor Agreement
The problem with dishonest or incompetent realtors is that you may not know the mess you’ve gotten yourself into until it is too late. If you have signed a realtor agreement, you may not be able to simply switch to another realtor at the drop of a hat. This is why the first stages of the real estate agent process, when you pick a realtor and sign agreements, is so important.
So, what should you look for in a realtor agreement? The most important safeguard is the cancellation clause. This is a clause in the contract that allows you to terminate the agreement, drop the agent, and find another. Typically the clause includes specific requirements or events that must be met for it to take effect, but some clauses allow sellers to drop an agent when they want.
If you are worried about the cancellation clause, do not hesitate to ask your realtor about it. The response you get may tell you a lot about how that realtor conducts business!
How to Terminate a Contract with Your Utah Real Estate Agent
Typically a breach of contract is enough to invoke a cancellation clause – but what does a breach look like? This can vary based on location and the terms of the contract. Typically, if the contract is not properly executed it can be terminated. This refers to specifics on counter offers, signatures, dates, and more. If you are unsure about your contract, you may want to consult an attorney that specializes in real estate law for specific advice.
Also keep in mind that some agreements require termination fees for you to cancel the contract and find a new agent. The contract will specify how much these fees are, so don’t forget to find out how much a termination will cost you.
Sell Your Home for Cash in Utah
If you are tried of dealing with untrustworthy agents or want to make a switch, contact us at Saltlakehomesforcash.com. We can offer advice on selling your home and show you how to make the process as fast and comfortable as possible. Short on time? Just fill out our online contact form and we’ll get back to you!