IB (NJ) I don’t know what it is like where your sister works but I make all decisions regarding my contracts, commissions, etc. I’m sure that no broker is going to force someone to sell their home if they do not want to. Continuing to have a listing which is not going to sell is fruitless. If they won’t cancel the listing you will have to wait until it expires. However, you can start working to sell before just don’t date your contract before the listing expires. good luck wpage
Terminating Listing Agreement - Realtors Pl. Help! - Posted by IB (NJ)
Posted by IB (NJ) on February 27, 2003 at 09:50:01:
I wish to terminate a listing agreement I have with my Sister who’s a Realtor. Sis actually encouraged it so everything’s cool on that end. But I just spent a month and a half with a buyer who couldn’t come up with the down payment after we got out of attorney review. I want to put it back on the market myself and see what I can do.
As I stated earlier, my Sister is cool with it but doesn’t think it will be that easy (she works for Weichert Realtors).
Anyone have any ideas or suggestions on what I can do to get out of this listing agreement. I’m particularly looking to hear from you Realtors on what would convince you to terminate a listing agreement at the seller’s request. A letter from me or my lawyer? It’s a 3 mo. agreement so it will be over soon anyway.
Posted by Ed Copp (OH) on February 27, 2003 at 18:14:23:
she really needs some more education. She is an agent (for her broker), and she can release (cancel) your listing any time that she wnats to.
Will her broker object? Perhaps, so what. You will never hear anything about it because your obligation will have been terminated.
As a long time broker in my state I would be a lot more concerned about having an agent out there that needed more education, than I would be about risking a phantom, possible, maybe, commission check.
If she’s cool tell her to release your listing, and keep cool.
Terminating Listing Agreement - Realtors Pl. Help! - Posted by Kristy-AZ
Posted by Kristy-AZ on February 27, 2003 at 11:49:34:
I don’t know the laws in your state, however, here in AZ if a client wants to cancel the listing it’s my choice how I handle it. (I am also a Realtor) I can charge them a fee to cancel, I can decide not to cancel, or I can just have them sign the cancellation paperwork and be done with it. I usually choose the later. Why make sellers angry, if they want out, I let them out, eventually they will look me up again because I was FAIR!
So check with your attorney about the RE laws in your state. It might be something as simple as signing a “CANCELATION OF LISTING”
IB (NJ) Ask your sister to complete a modification form cancelling the listing. You do not want to just place the property off market. The listing must be cancelled otherwise you could be liable for a commission until the mandate expires. No offence to your sister but if she is an agent it is time she finds out what to do in a case like this. What is she going to do when a customer other than her brother asks her this. Sorry wpage
I had the same issue - I just told them that I was taking the house off the market! - NO-ONE can force you to sell a house. You probably dant sell till after the listing has expired.
Re: Terminating Listing Agreement ! - Posted by IB (NJ)
Posted by IB (NJ) on February 27, 2003 at 10:46:57:
Thanks wpage. No offense taken we’re all adults ) She’s a new Realtor so you’re right about it being time she finds out what to do in cases like this. But is it that simple? Will her Broker/Boss ask why? If so, what should she tell them?
Re: Terminating Listing Agreement - - Posted by Houserookie
Posted by Houserookie on February 27, 2003 at 12:21:25:
They can’t force you to sell but they can certainly sue you for compensation and breach of contract.
Best thing to do is to get a cancellation of contract. When a contract is cacelled there is no such thing as contract term or 180 waiting period. When it’s cancelled it’s no longer valid.
IB (NJ) Sorry I did not answer your question. She simply tells her broker/boss that the seller is no longer interested in selling…period…end of story.
Just a note of caution: if they will not cancel the listing but simply put it off market you would not want to sell the home to some buyer that visited your home during the mandate. In our area the waiting period is 180 days after expiry. wpage
) She’s a new Realtor so you’re right about it being time she finds out what to do in cases like this. But is it that simple? Will her Broker/Boss ask why? If so, what should she tell them?