Yes, you caught that very same thing. This is true. I had to go look too as I couldn’t believe that North Carolina had a law that allowed a seller to get out of a legal binding contract. The form itself is normal and your agent/broker probably have a form just like it; this is what you want to fill out to release you from any further liability (read: commission).
You still need the broker’s signature.
But back to your original thinking, you might want to check your listing agreement. Sometimes there may be a clause that says even after expiration, there is a 6 months (time may vary) span where if the house is sold; the agent/broker may still be due a commission.
If you really want out, work out the arrangment with the broker. If the broker does find out you have a sale, without a release, they might slap a lien against the house. Imagine a broker who thinks you are trying to outsmart him/her, they will follow up with the file for a while to see if anything develops.
Get the release in writing and you will be free to do whatever you want with no further liabilities.
Bringing him more business in the way of my Sister. She’s a Realtor under him and I would continue to send referrals her way, particularly sellers with little equity.
In regards to my real name, I doubt if refusing to inform a realtor about a sale will mess it up. I find it funny when realtors (not necessarily you) are quick to warn someone about getting a bad name when, in general, realtors have a bad reputation for not getting a house sold when they promised the owner “Oh you should be able to get [input ridiculous and unrealistic selling price just to get the owner’s business HERE] dollars IMMEDIATELY when we list it on the MLS” and then not delivering. How about the “hey I got a buyer for your house…I just need you to sign this listing agreement”, only to find there’s no buyer?
I’ve been doing this for a few years and have established a network of my own contacts who KNOW that I am reliable. They’ve never had a problem receiving a check from me on time and cashing it. So can one realtor’s opinion mess that up?
Thanks Tim. It’s really one of those things that if I HAVE TO pay the realtor I will. But he’s going to do SOME work for it even if that means slapping a lien on the house. In the meantime I will alert the corp. office that I tried to work outa professional agreement with him being that I can throw some good business, and have done so in the past, his way. Yet because he’s being unreasonable, I will never do business with this agency and encourage other buyers and sellers to do the same. Oh he’ll get his 6% but it’s going to cost him.
First of all I’m not an agent, realtor, broker, etc. and I don’t defend them, their actions, or reputation in any way. To me this is about ethics, not occupation.
My comment about referrals stands. You listed with your agent/sister and claim she didn’t perform. Now you send referrals to her. Why?
Do you love your sister that much or do you just hate Sellers? (This line is somewhat borrowed from a joke… “I’m not a vegetarian because I love animals, I just hate plants.”)
Can one broker (and his agents) mess up your rep? I don’t know and would rather not find out. Let us know how your conversation with the broker goes.
Do you have any proof that they didn’t do their work, like advertising the house in the paper, etc? If they only listed it then sat on it, it might give you more ammo.
OTOH, if they took reasonable efforts to sell it, might just be the market there.
- Posted by Andrew