Changing Realtors During Home Buying And Mortgage Process

Gustan Cho Associates are mortgage brokers licensed in 48 states

TIn this blog, we will cover and discuss changing realtors during the homebuying and mortgage process.  Many home buyers and home sellers decide to switch real estate agents during their home buying or home selling process.  Changing realtors is not too common but does happen. The home buying process and the home selling process can be extremely stressful experiences for home buyers and sellers. Although the majority of the real estate agents are professionals and are licensed, every real estate agent has a different way of doing business.

How To Avoid Changing Realtors During Home Buying Process

The way a particular agent conducts his or her business may not click with the home buyers or sellers. Some agents have assistants who deal with their clients. Many clients do not want to deal with an assistant. They rather deal with the realtor directly. Some real estate agents do not work weekends or do not take calls after certain hours. This may not be suitable for some home buyers and sellers. There can be dozens of reasons why buyers and sellers change realtors during the home buying process.

Common Reasons for Changing Realtors

Common Reasons Changing Realtors

Buyers and sellers who have not signed a broker agreement are under no obligation to use the real estate agent. The real estate agent has no claim. For those who have signed a broker agreement and want to change real estate agents, most agents are professionals who will agree to cancel the real estate agreement with them.

How Do You Politely Change Real Estate Agents?

Many people who decided on changing realtors during the home buying and selling process change due to various reasons. One of the most common reasons for changing realtors is poor communication skills. Clients often feel that the real estate agent cannot properly answer their questions. Another common reason why home buyers proceed to change realtors is that they feel the real estate agent is not familiar with the area where they are looking for homes. Also, many real estate agents show home buyers homes that do not meet their parameters such as the square footage, lot size, amenities, price range, and location. Others feel that the real estate agent lacks leadership and aggressiveness in the ability to negotiate.

Changing Realtors After Signing The Purchase Contract

They feel realtors are not interested in clients’ needs and do not have their best interest at heart. The number one reason why home buyers and sellers change realtors by far is that they do not return their client’s phone calls or oftentimes do not pick up their phones. It does not matter how competent a real estate agent is. If he or she does not pick up their phone or does not return their client’s phone calls promptly, their clients will be changing realtors. It does not matter whether they are a real estate agent or a mortgage broker. Professionals who cannot pick up the phone or return clients’ phone calls promptly should not be in the business. I have run into real estate agents who cannot be reached for days.

Common Reason Changing Realtors

Changing realtors is not very common but does happen. Buyers and sellers should not be too concerned with hurting their realtors’ feelings. As a mortgage banker, I too have borrowers who switch to a different lender and I have no hard feelings at all. Other borrowers feel more comfortable with me and my team and request changing lenders. I do want to know why they are switching and if it is due to me, then I try to correct what I did wrong so it does not happen again.

How To Tell Your Realtor You Chose Someone Else

I prefer for borrowers to be honest with me instead of sugarcoating it and lying to me because they do not want to hurt my feelings. Most of the time when switching mortgage lenders is because they get lowballed into an untrue mortgage rate and often times they come back. If promised ridiculous things by a second real estate agent and the promises offered by the first real estate agent are the reason for changing realtors, do due diligence and see whether or not the second realtor is reputable. However, if it is due to personality differences or the realtor not returning phone calls promptly, then it is a good reason to change realtors

Open Communication

Open Communication

As mentioned above, there are countless reasons for changing realtors.  Real estate agents are professionals and if confronted with customer dissatisfaction the realtor is going to be fired politely, they will understand.  Tell the realtor of not being a good match, the realtor will understand and move on.  Clients do not have to stress about hurting the realtor’s feelings or coming up with dozens of excuses.  If a real estate agent asks why he is being fired, it is up to you whether or not to give him reasons for changing realtors.  If it is due to the realtor not returning phone calls, tell him that so he can correct himself.  If the reason for changing realtors is due to a lack of knowledge of the area, you may want to address that too.  Bottom line is that the home buying process and the home selling process does not need to be a stressful process overall. The last stress needed is having to work with a real estate agent you do not get along with.