In Ontario, when we sign up with an agent to sell, the minimum period is 60 days. In case, the seller is not happy with the services of the agent (such as lack of interest from the agent, no communication, etc), can the contract with that agent be cancelled before 60 days? I hear that there is a cancellation paper/form to be signed, something like that.


DIO

Hi DIO,

Have you spoken to your Rep and advised him of your expectations not being met? If there is some misunderstanding between the two of you, this may be resolved this way.

Your listing contract is with the Brokerage with whom the Sales Representative is employed. If you and your Rep are not able to resolve your differences, I suggest you to contact this Brokerage's Manager. He may be able to remedy the problems you are facing or pass on the contract to some other Rep. with the same Brokerage, though with your Rep's consent. Cancelling the contract is Brokerage's prerogative and they won't cancel it unless you have a very valid reason to do so.

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Rajiv, explained the cancellation process very well.

Do you think that the agent has not done enough marketing or there were negligible showings of your property?

As soon as a home comes on the market, there is a flurry of activity. This is a crucial time when all the Realtors and potential buyers sit up and take notice. If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.

Many sellers believe that if they price their home high initially, they can lower it later.

On the contrary, when a home is priced too high it experiences little or no activity. Gradually the price is dropped but by that time it's been for sale too long and buyers will be wary and reject the property. Resulting in sale of property for less than it's worth.

The above situation prevails when the real estate salespeople and/ or the sellers just don't take PRICING seriously (one the crucial 5 Ps of marketing), before setting the listing price.

Take a look at your listing price before solely putting the blame on your salesperson.

Regards,

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Thx Amit and Rajeev for your pointers. Well, the matte is I had suggested $Xk as the listing price. The agent has gone ahead and increased by another 5k. I never liked it as I have a fair idea of the value in the area. I had done my homework well. This is not the first time I am dealing in the RE market.

Marketingwise, its only on the MLS, and a sign outside the hosue. That's all. Not even on his website. He hardly has time to talk to me since he is busy "showing homes" to his clients. There is only one open house that was done in the same weekend when it came on the market. It's been 5 weeks now since its listed. If he has no interest in marketing it, then what is the need to hire him as my agent? I would have gone with any other agent. He used to be in contact till he got my signature. After that, the open house was done by his assistant who is a rookie in the RE market. He can barely talk abt RE. He was an accountant somewhere, go tlaid off, now became an agent, assistant to my agent.

This is my situation. Hard to get him on the phone. I am urging him to reduce the price, to be more realistic. May be I will give 1-2 weeks time. If not I have to do somethingdrastic to this guy.

DIO

Many agents do the business like that. Once they get the contract then they do nothing. They know some buyers agent will come with a buyer and will buy the house. If you see most of the buyer agent is doing the work to getting the house sold. Some few seller agents do great work. Before you put your home on the market find out how much money the seller agents do advertising. For e.g. If you see the Mississauga news there are few Agents who regularly do advertising. You need to find those brokerages that put money in advertising and market your house. Advertising makes difference and more buyers are through your door.