I am struggling with my real estate agent. I've been working with her now for approximately 2 months and initially mentioned that if she brought me a deal that she could have the listing agreement once I fix it up and am ready to flip it.
However, over the course of our relationship I haven't been too happy with her efforts. I think she is really trying her best, but she is swamped and doesn't have the time to really search for properties for me. She doesn't know how to provide an ARV, and doesn't know how to locate a good deal. I have been guiding her the whole way essentially just telling her to bring me all of the dumps in the city and I will determine what's a good deal.
I am going to have my RE license within the next month or so, and I am not sure how to break off our relationship. I have a property under contract that she found for me, but to be honest I don't want to give her the listing once I am ready to put it back on the market. I feel like I will save thousands of dollars by listing it myself and will do just as good of a job as her by listing it myself.
What is the proper way to break off our relationship? I don't want to burn any bridges and want to remain professional. Do I have an obligation to give her this listing because I did verbally tell her I would if she finds me a deal. But I also didn't have my license back then too when I said that.
It comes down to which is more important, your word or your money. Only you can answer that. I would then explain that you now have your license but if she finds any off market deals you would be interested in a fee agreement if you can make a deal.
Thank you@Brandon Hopkins You are absolutely right. I'll have to give her this listing and then go forward on my own. I've already budgeted agent commissions into my deal anyway. It's just frustrating because I feel she won't be much use.
If your getting your license I'd say no way in including her in the deal.
You did promise her a listing if she brought you a good deal and it sounds as though she went through more homes than normal to find you one to buy because of this promise you made.
So in this situation I think it'd be best to keep your word.
I'd let her know moving forward that you will be Licensed and this will be the last listing for the foreseeable future.
I am not a realtor. That being said your reputation in that world is everything. I know agents who won't show their clients houses of agents they refuse to work with. I would use her, as your word is everything. On the other hand this is a business deal. I would outline in your contract exactly what you expect. Clear expectations is the way to go, and prevents ton of future issues.
Give her this listing and after the deal is closed send her a nice bottle of wine and say thanks for your help but the deal-flow isn't sufficient.
But once you're licensed, your broker might want a piece of the commissions from your deal, so you have to weigh that into your decision too. Yeah, it's only money, but your broker-to-be and that agent are sure in it for that money ...
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