If you are about to sell your home, you have probably already asked other recent sellers which agent they would recommend, and you’ve probably invited two or three agents to come and suggest a price and a marketing strategy for your home. It may already be clear to you which agent stands out as the obvious choice. But for those who can’t decide there is one more thing they may need to do in order to finalise their choice.
Many professional agents are ready to stand behind their services and they offer vendors the option of cancelling the original agency agreement if they have a problem with the way the agent is handling the marketing. This offer is called a Service or Performance Guarantee. It doesn’t mean a vendor can decide to cancel the agency agreement just because they don’t like the colour of the agent’s car or the suit they’re wearing! The offer usually involves the vendor giving the agent forty eight hours to remedy any problem they might have and at the end of that time if the vendor is still unsatisfied, the agent will release the vendor from the agreement. The vendor is then free to sell their house with someone else without waiting out the period of the agency agreement.
While most vendors never cancel their agency agreement, the fact that the agent is prepared to offer them the option of doing so makes it easier to make the final decision on who to appoint.