When to tell agent I'm not renewing

bleighNovember 19, 2010

I am finally coming to the end of my contract with my agent/friend. For many reasons, I didn't fire her, but I will NOT be renewing. I'm already setting up interviews with other agents, that I solicited, to pick up the listing when it expires on 03 Dec. Anyway, when is the best time to inform my current agent we will not be using her again? I was thinking I'd let her know about 3 days before hand, but it might be more comfortable for the prospective agents that I let her know before their interviews. What is customary in this situation?

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chrisk327

I'd let her know before the interviews if you can. mainly b/c its a small world and she might hear through the grape vine if you wait too long. but as long as you talk to her about it at some point.

    Bookmark   November 19, 2010 at 12:52PM
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linda117117

There really isnt customary as far as when. Some people have their new contract ready to go when the other expires and they lose no time on the market. Others wait for it to expire, then start their interviewing process. Its not uncomfortable for agents in either situation, its part of the business. I wouldnt make my decision based on what is comfortable for the agents you are interviewing. Its not a big deal. Its going to be more uncomfortable for you and your friend.

    Bookmark   November 19, 2010 at 10:32PM
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ncrealestateguy

Just do what you would expect someone to do for you.

    Bookmark   November 21, 2010 at 7:25AM
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susana_2006

When I was selling a few years ago, I was totally fed up with several mistakes my agent had made & I was not planning on renewing. In my case I didn't do anything, I'm guessing he was aware that renewal wasn't likely. Anyway, after having been listed by him for 12 months, he found a buyer 11 days before expiration. Also he represented the buyer in the transaction & ended up with $30,000 in commission. So maybe when the pressure is one, your realtor will get the job done. Good luck
Susan

    Bookmark   November 21, 2010 at 2:38PM
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mariend

Susan --A agent tried that with me, after 6 months. We were on vacation, and she called me several times on my cell phone and even left messages on my DD phone, and we do not know how she got the number as it is unlisted, that she really really had a buyer and wanted me to make a commitment over the phone to extend a month. I said NO and when I got back I would talk to her. Never heard from her again. Heard later she was extremely upset, and tried to stop the sale. Hope yours works out better.

    Bookmark   November 21, 2010 at 5:43PM
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kats_meow

Why do you have to tell the agent you aren't renewing with that agent?

We have a listing that will soon expire and I've told the agent I'm not renewing right now and will probably look at it after the first of the year. We are going to interview other agents and may list with one (most likely, but you never know...could decide to stay with agent we have now). I don't think we have to call up the current agent and say that we are going to list with someone else. It will be obvious if we do it.

    Bookmark   November 22, 2010 at 1:21AM
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chrisk327

"Why do you have to tell the agent you aren't renewing with that agent?"

I guess it depends on how you read that... but I think you have to tell them you aren't renewing. for 1, its common courtasy. They've worked on trying to get your home sold for however long either good or bad, but they deserve to know that you're not renewing with them beyond just letting it expire.

    Bookmark   November 23, 2010 at 11:33AM
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susana_2006

I didn't tell my agent and generally I probably wouldn't initiate the conversation regarding renewing listing or not renewing. When the realtor receives a listing, the agent implies that he/she will be capable of getting the house sold in a time frame. If it doesn't happen, the agent should assume that the seller will be assessing the situation and probably making changes.

Real estate agents are salespersons. I would never call up a salesperson to tell them that I'm not buying a product they're selling Likewise, I won't call up a realtor and say I'm not going to re-list.

When the expiration date is approaching, it is definitely the responsibility of the realtor to come to me with a strategy that may get the job done. Then the seller can make a decision regarding re-listing.
Good luck
Susan

    Bookmark   November 23, 2010 at 12:32PM
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Carol_from_ny

I agree with Susan. It should be the job of the agent to come to you and ask if you are renewing or not. If they aren't on top of that little detail then they certainly aren't giving your house their best efforts and they deserve to be replaced.

    Bookmark   November 23, 2010 at 12:51PM
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bleigh

I think I was more worried about her hearing from someone else that I was interviewing while still under contract with her. Also, agents can't legally solicit a listing while it's under contract and I think by me informing her of my decision, the question of legality wouldn't come up. Make sense?

    Bookmark   November 23, 2010 at 4:14PM
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susana_2006

Why not send a "thank you" card thanking her for her efforts on your behalf & say that you will be re-assessing your situation in order to decide what changes will be necessary in order to have a successful outcome.
Good luck
Susan

    Bookmark   November 23, 2010 at 11:45PM
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kats_meow

In our case we aren't even interviewing new agents while still under contract. We are going to take the house off at least for December and not sure if relisting in January or the next month.

I did find out from someone who happened to look up my listing that my house is no longer listed in MLS even though my listing has not yet expired. A few weeks ago my agent made a reference to the date my listing was to expire and she had the wrong date so I corrected her. She checked and wrote back that I was right. I think that she likely had always had it listed wrong on MLS so that is why it wasn't in there.

Anyway in my case, the agent does know that we aren't going to relist immediately and that I will reassess after the first of the year.

    Bookmark   November 25, 2010 at 1:01PM
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