Advice for sellers

Since the seller pays the real estate agent’s commission, the brokerage requires the seller to sign a listing agreement upfront.  During the listing period, you’re contractually obligated to work exclusively with the agent and brokerage firm, specifically on the sale of your home.

In fact, even if you find a buyer on your own (such as a friend), the listing agent/brokerage firm is still due their commission.

Just as a buyer must do his homework, it’s even more important for a seller to do her research, given the commitment. Most listing agreements state that if the listing agent brings an offer at the listing price and the seller doesn’t accept it, the agent is still due a commission. This scenario happens sometimes when the listing agent and seller aren’t getting along.

In most situations, if the listing agent isn’t doing a good job but there’s still time left on the agreement, you should simply tell the agent it’s not working out. A good, fair and honest agent will apologize for not meeting your expectations and will agree to release you from the agreement ahead of schedule. But that’s not always the case, and sellers typically respond by no longer agreeing to open houses or considering offers from the agent.

Sometimes, an agent wants to break up with the seller. Maybe the seller insists on keeping the price of the home too high or isn’t cooperating to accommodate showings. The agent simply feels she can’t be successful with the seller, no matter how much time she puts into the job.

If you’re a seller whose agent wants out of the agreement because you aren’t taking the necessary steps to sell your home, it’s best to let them go — and to give serious consideration as to whether you’re really ready to sell or not.