When you list your property with a real estate agent, in most cases, you will sign an exclusive agreement with them. This means that the agent you have chosen will be paid a commission if your property sells within their exclusive period, whether they sell it or not.

If you decided to list your property with another agent are had two exclusive authorities on your property, it wouldn’t matter who sold the property, each agents’ agreed fees would have to be paid. Even if you as the owner were to find a buyer for your property and sell it privately, you would still have to pay a commission to any agent that you have signed with, so long as it’s within their exclusive period.

If you and the agent agreed on parting ways, ensure you have that written and signed off by the agent. Legally, you are still in a binding contract and would still be liable to pay any commissions at the point of sale. In most cases, if you had come to an arrangement with an agent, they would honour that, though I would always have it written up and signed off, just in case.

Realistically, the only repercussions you may face revolves around the selling of the property. If you’re still in authority and decide to change agents beforehand, then just make sure that the property sells outside of the exclusive period. If you want to move, then start the process in finding the new agent, hire them and withdraw your property with the current agent, get everything ready to go and start marketing and keep an eye on the date for when you can sign a contract of sale.

 

DISCLAIMER

The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.

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