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  • Writer's pictureColleen

How to Quit your REALTOR

When you hire a REALTOR you will sign an agency agreement whether it's a buyers agency agreement or a listing agreement, but sometimes it turns out that you and your REALTOR aren't going to be a good fit. If you ever do find yourself in this situation, there are 6 ways to terminate the agency agreement?

1. Full Performance- when the terms of your contract have been fulfilled agency is terminated.

2. Mutual Agreement- Maybe your REALTOR is feeling the same you are in that the two of you aren't a good fit. You can mutually agree to terminate the agency agreement.

3. Destruction of Property- If the property in question is destroyed, then there is no contract because there is nothing to sell or buy.

4. Expiry- Check the expiration date on your agency agreement. Once that date is passed, the agency is terminated.

5. Death, Bankruptcy, or Insanity of principle or agent- If you were to pass away, file for bankruptcy or someone proves that you weren't able to coherently sign the agency agreement at the time of signing, the agency would be terminated. Also, if the Broker (not your actual agent) were to pass away or file for bankruptcy the agency would also be terminated because the Broker is who your contracts are actually with and if they were to pass or go bankrupt then there's no person or company left to have a contract with.

6. Agents Neglect or Abandonment- an agent has the duty to make all reasonable efforts to produce a buyer at the sellers terms and produce a home at the buyers terms. If the agent has accepted you as a client by signing the agency contract, but then has neglected you and made no efforts toward making a sale happen, this would be neglect or abandonment.

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