When buyers work with the same team through the entire process of acquiring a piece of real estate property, it is usually fairly simple to determine how the commission should be paid. Real estate agents are paid commission based on the sale, and the details of this should be laid out in the paperwork from the very beginning.
One way that this can become more complicated is when a buyer or seller decides to switch agents in the middle of the process. They do have the right to do this, but it could lead to a situation where both agents claim that they are the ones who should get the commission. This can be a difficult dispute to resolve, and it’s important for everyone involved to know about the different options they have.
Why do people switch real estate agents?
There are numerous reasons why people may decide to switch agents at any point in the process. For one thing, a seller may feel that the agent isn’t doing enough to draw in competing offers. Or a buyer may feel that the agent isn’t pulling their weight and finding ideal properties. On both sides, buyers and sellers may just struggle if they feel that the agent they have is in over their head or is not as knowledgeable as they should be.
These are all valid reasons to switch agents, and buyers and sellers are not obligated to stick with someone just because it was the first person they hired. But it is necessary for them to understand what it’s going to mean if they do switch and what financial obligations everyone is going to have. When all of this leads to a dispute, then it’s time to begin exploring legal options.
