How to sack an agent
December 12th 2008 05:18
It's been months and months, and not one contract. He's bringing the buyers through, they like it, they say they want to buy it and then.... nothing. Is the agent angling for an auction? Can the agent sell in a down market? Is the agent too used to the good times?
Why did I spend $3000 on ads with this man? Why does he want $5000 more for an auction campaign? Why did he just tell an interested buyer that if they didn't buy it today, we would be going to auction next month? Why did he seemed pleased when she said she would be the first bidder? Doesn't he get that she now wants to wait for the auction, to see if she can pick up a bargain?
I think so.
So he is going to get the sack.
Doing this is tricky. In Queensland, there are forms we sign (22A) that states the period of sole agency. It's usually 60 days. You can't do anything with any other agent until that agreement expires. Even then, you have to send a fax or letter to them saying they are no longer required.
It's a hard call. The agent has a history with the property, knows what lengths we have gone to in setting the price, cleaning the place up, positioning it on the market. He has screened buyers. He knows us. Changing risks starting again with a new agent. Building up a rapport, a new set of buyers, a new ad campaign and a new way of doing things.
But that's not a reason not to change.
A new agent has new buyers. A new agent might be closer to our ethical demands. A new agent won't insist on us paying $350 hall hire fee to cover the luxury of having an auction. The new agent will listen to us, won't hold open homes every week so the neighbours can come in a tisktisk about our living room rug. A new agent represents hope.
But will the new agent come across the same problems with a downturning market, bargain hunters and predictions of doom and gloom? Absolutely. It's the buyer database that we want to access. The first agent was pitching far too high - we need more realistic buyers. Ones that want to actually buy the house, not the price tag. Ones that might see themselves living in this house, rather than just renting it. We need buyers to get passionate about the position, the size, the neighbours - this house won't sell itself. It needs someone to fight for it, to educate the buyers about its benefits - to SELL it.
There's a buyer for every house. There's also an agent for every seller.
Why did I spend $3000 on ads with this man? Why does he want $5000 more for an auction campaign? Why did he just tell an interested buyer that if they didn't buy it today, we would be going to auction next month? Why did he seemed pleased when she said she would be the first bidder? Doesn't he get that she now wants to wait for the auction, to see if she can pick up a bargain?
So he is going to get the sack.
Doing this is tricky. In Queensland, there are forms we sign (22A) that states the period of sole agency. It's usually 60 days. You can't do anything with any other agent until that agreement expires. Even then, you have to send a fax or letter to them saying they are no longer required.
It's a hard call. The agent has a history with the property, knows what lengths we have gone to in setting the price, cleaning the place up, positioning it on the market. He has screened buyers. He knows us. Changing risks starting again with a new agent. Building up a rapport, a new set of buyers, a new ad campaign and a new way of doing things.
But that's not a reason not to change.
A new agent has new buyers. A new agent might be closer to our ethical demands. A new agent won't insist on us paying $350 hall hire fee to cover the luxury of having an auction. The new agent will listen to us, won't hold open homes every week so the neighbours can come in a tisktisk about our living room rug. A new agent represents hope.
But will the new agent come across the same problems with a downturning market, bargain hunters and predictions of doom and gloom? Absolutely. It's the buyer database that we want to access. The first agent was pitching far too high - we need more realistic buyers. Ones that want to actually buy the house, not the price tag. Ones that might see themselves living in this house, rather than just renting it. We need buyers to get passionate about the position, the size, the neighbours - this house won't sell itself. It needs someone to fight for it, to educate the buyers about its benefits - to SELL it.
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Comment by jon
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