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If a home seller is not happy with his agent, can the seller fire the agent and hire a new agent? That is the question from a caller on the Success in Real Estate Show on Saturday. Unfortunately, it is a very common question for home sellers and buyers. How should that question be answered?
If you are a licensed real estate agent in South Carolina, I am sure you have had buyers and sellers ask you if they can fire their current agent and work with you. As a licensed agent, how do you reply and what should you tell the upset buyer/seller? One thing you cannot tell them or even suggest is that they terminate their current agreement. SC License Law states that recommending or suggesting that one should break or in anyway try to get out of a valid contract is a License Law Violation. Additionally, you could be accused of “practicing law” when you recommend a contract be terminated. Practicing law without license is also illegal.
So what is the right thing to say? Although there is no one answer, I believe the disgruntled buyer/seller should request a meeting with the Broker-in-charge (BIC). Unfortunately, most do not know or understand they have a BIC. There is only one Agent per office and that person will be the BIC. All other licensees within the office are considered Sub-agents of the Agent. When a seller hires an Agent to sell their home, they have hired the BIC, not the licensee they are usually negotiating with. I always recommend the buyer/seller meet with their BIC and discuss the issues. I would think the BIC can remedy the problem in most cases if the BIC is made aware of the problem. If the problem cannot be remedied, most BIC’s will probably offer a release of their contractual obligations allowing the buyer/seller the right to hire a new Agent.
South Carolina Real Estate Agents/Licensees have an obligation to explain to potential clients how the Laws of Agency work. Licensees must explain to buyers/sellers that they are hiring the BIC/Company and as a licensed sub-agent for the company, you will be providing the representation and fiduciary duties as required by the company’s policies. If the buyer/seller believes when they sign an Agency Agreement that they are hiring the licensee, the Laws of Agency were not properly explained.
If you are interested in getting your South Carolina Real Estate License, we would love to have you attend our Real Estate School For Success. We will train you to not only pass the state exam, but also teach you how to build a lucrative career in the Real Estate Industry. We also offer many other licensing courses such as Property Manager, Appraiser, Home Inspector, etc. The Real Estate School For Success is an approved MyCAA provider, which allows for many military spouses to take all classes at no charge. Give us a call for details. You can also receive a 10% discount on any licensing class by entering the promo code below when you register on line at the Real Estate School for Success. This discount may not be used with Designation classes or promotional classes that have already been discounted.
Discount/Promo Code is: Agency
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