VIC - Switching real estate agent - what to do?

Hi

My property in Melbourne has been on the market for nearly 3 months with one agency and the exclusivity agreement is also coming to an end.

I was wondering what's the process of switching real estate agent? Do I need to write a formal termination letter to my current agent? Are there any cost involved in getting out?

And if I move to another agent, do I have to pay for another set of marketing costs? Can i keep my online AD with realestate and domain using a different agent?

 

I was wondering what's the process of switching real estate agent? Do I need to write a formal termination letter to my current agent? A SIMPLE EMAIL WOULD SUFFICE
Are there any cost involved in getting out? GENERALLY NOT UNLESS YOU OWE FOR ADVERTISING. CHECK THE AGENCY AGREEMENT YOU SIGNED.

And if I move to another agent, do I have to pay for another set of marketing costs? IT WILL DEPEND ON THE TERMS OF THE NEW AGENCY AGREEMENT YOU AGREE TO SIGN UP TO.

Can i keep my online AD with realestate and domain using a different agent? NO PROBABLY NOT. YOUR NEW AGENT WILL WANT TO DO THEIR OWN WORK ANYWAY. THE EXISTING ADVERTISING NEEDS TO BE REFRESHED TO AVOID THE LOOK OF BEING STALE WHICH IS ALMOST CERTAINLY WHAT IT IS NOW AFTER BEING UP FOR SO LONG.

 

Three months? Time to look at your price and presentation.

 

Have you had any offers in that time?

 

What area are you looking to sell in? I might be able to pass on a few recommendations for past colleagues if you haven't chosen a new agent.

As others have said, send an email once your exclusive agreement expires. You will likely have to pay the advertising fees to your old agent depending on your agreement and 100% likely you will need to pay for advertising again with the new. Each agent will have their own photographer and accounts with places like re.com and domain.com - the marketing cost they ask for from you is often only a token amount toward the actual cost to the agency for the marketing they do .

3 months though, have you looked at price and presentation as per hobartchic's comment? It is usually price or presentation - or your postcode is 3200 which always makes it harder.