There are a few reasons you may want to fire your REALTOR®. If you feel you made a mistake by signing a listing agreement with the wrong REALTOR®, the best thing to do is to correct it and move on. If your Lawyer or Doctor was not working in your best interest, wouldn't you fire them too?
Your listing agreement is usually for a period of three to six months (sometimes longer) and you are entitled to cancel at any time. This can be done with a standard Alberta real estate form. Edmonton REALTORS® (depending on the agency designation) also has the option of terminating the listing contract at any time without your consent, but this rarely happens.
If you have hired the wrong real estate company or agent to represent you, fire them. Do it professionally and do it in writing. There are a few things to consider prior to firing your Edmonton REALTOR®. All of these contingencies will be set out in your original listing agreement.
Who owns the listing?
The listing is owned by the brokerage, not the REALTOR®. If you have a problem with the agent, call the broker. If you have a problem with the broker, call consumer affairs and the Edmonton Real Estate Association.
Is there a fee to cancel your listing agreement?
There may be a cancellation fee in the listing agreement. This fee is usually the cost to cover expenses already paid by your Edmonton REALTOR® prior to your cancellation. The service fee amount will be set out in the agreement you signed. However, if you paid a fee upfront, there usually is no cancellation fee.
Will I still have to pay a commission after I fire my REALTOR®?
If a buyer was introduced to your home during the term of your listing agreement and you sell it privately (during a specified time in the agreement) to that same buyer, commissions will be payable.
Can I hire another agent immediately?
Yes. Once your home is off of the market, you are free to list your home with any licenced real estate agent.
When you are ready to fire your REALTOR®, simply inform your agent that you would like to cancel the listing and ask him to provide you with the listing cancellation form. There will be two choices on this form. Make sure you have a property termination end date, the office broker (not the agent) has signed and you have received a copy.
1. Unconditional termination
2. Conditional Termination
If your Edmonton REALTOR® fails to provide this form within a timely matter, contact their brokerage and tell them about your grievances with the agent.
Can you fire a Buyers Agency or Buyer REALTOR®?
Yes. It is a different form, but you are free to fire your REALTOR® when buying. There may or may not be a small fee to get out of the agreement. This fee would have been set out in the original buyers brokerage agreement which states: If you change your mind about looking for a property, you must tell us in writing. You must reimburse us for our reasonable expenses up to the time you tell us. Reasonable expenses will include: (If this section is blank - no penalty will be payable). However, this does not allow you to approach a seller that has been introduced to you while working with your realtor. If you do this, you will have to pay a full commission as set out in the original buyer brokerage agreement.
If you have any questions, both RECA (the Real Estate Council of Alberta) and EREB (the Edmonton Real Estate Board) have plenty of great information to help you make the best decision for you!
Have questions about firing your ;REALTOR®, feel free to reach out. We are here to help.