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Mimi | Can I terminate a contract with a realtor? |
We were basically suckered into signing a 6-month contract with our realtor to sell our home. After only three months, we are very unhappy with him. He does not follow up with us, contstantly tells us we need to lower the price, points out negatives in our home to people(instead of working FOR us) and does nothing to help us out. We'd like to try by owner to eliminate having to pay a realtor, but I'm worried that there is no way out of our contract now. We are having a house built that is set to be ready to move in in less than two months! Please help!!
Additional Details
I lowered the price significantly about a month ago, and my realtor is pressuring me to do it again. As it is, I'm already going to OWE at closing, but lowering it any more will make it impossible for us to come up with the necessary money. |
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volunteerjim
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Have you tried talking with your Realtor about your feelings and your opinion of his or her job performance? Sometimes a lot goes on behind the scenes to market a house that you may not be aware of.
If a talk doesn't work then I suggest you contact the principal broker of the firm he or she is affiliated and tell them your concerns and that you're unhappy with the way your sale is being handled. Usually that will get some action and they may assign another agent to handle your sale.
Failing that ask them to cancel your listing; they may or may not agree and whether or not they're obligated to do so would depend on the terms of your listing agreement and your state's laws.
Most of us would prefer to terminate an agreement with an unhappy client rather than force them to continue to be in an agreement they're unhappy with.
I offer a 100% satisfaction guarantee for my clients which gives them the absolute right to fire me any time they're unhappy with my services or job performance.
Breanne's answer may be correct in California but since we don't know what state you're in, it may not apply there. In Tennessee where I practice real estate there is no unilateral right to cancel a listing agreement.
Timothy, the National Association of Realtors has no dog in this fight. The agreement is between a seller and a real estate firm. It would be governed by state law and local Association & MLS policy as well as any company policies and what's stated in the listing agrement. |
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IBD1
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You're better off waiting until your contract runs out. Another listing agent will think twice about taking your listing if he/she knows he may lose out on the commission in court. One thing to think about: Realtors want their commissions - they want to sell your home. You may be unrealistic about your home's worth and a Realtor will spend less time and energy on owners whose asking prices are unrealistic (ie. house will never sell = no commission and wasted time). |
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spadezgurl22
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READ THE TERMS OF THE CONTRACT! If there is no way to get out of it, talk to the broker of the firm. (every agent works under a broker) explain your situation, they can either terminate it, with wrtten consent or they might hold you to the terms. Learn from your mistake and dont sign any exclusive agreements bc this does not work in ur favor. all it does is allow them to be lazy and half committed bc regardless who sells it they still get their cut of the commission. weorst case scenarios u might have to wait it out and then get a new broker in a few months. |
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Tony
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Happens all the time.
Do this: Politely call the Realtor and tell them you are not happy with thier service and you want to cancel the contract.
They should say "fine" and let you go (it costs Realtors alot of money to list a home - they do not want to waste it if you are not selling). You might have to whin a little but anyone worth thier salt would cancel the agreement.
If they refuse - politely ask thier broker to be release sighting negligence - trust me NO broker wants to go to court for any reason and they will quickly let you out of the contract.
15 yr Realtor
www.hqhomes.com |
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GLL
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Tell his broker you want to cancel the contract. The broker is the one who has to do cancel it. Explain the reasons and threated to go to the dept. of real estate/real estate division, and file a complaint with the association of realtors. |
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godged
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You can cancel your contract without any obligation to your current realtor. |
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Lil Miss Lis
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You may cancel, but it also depends on the realtor, if he is willing to do a complete cancellation(which will terminate the contract fully) or a withdrawl (the contract will still stand until the end of the term date and you are liable for complete commission.
If he points the bad stuff about the house it is definitely unprofessional and the paperwork should disclose all that he is pointing out.It is your duty as a seller to have disclosures and reports about the property for the buyers to revise upon a sale. When he shows your house he should emphasize the good stuff about it and not the negative...He should work with you guys to maybe do some cosmetic work on the house,credit money back to the buyers so that they can fix the bad stuff on their own, and disclose that you want to sell the house in its current "AS-IS CONDITION"
This info is based in California Real Estate guidelines, so if you dont live here then you may want to check your states guidelines for real estate.
Here in California the market is verly low at the moment... And sellers sometimes have their houses on the market for more than 3 months up for sale....This causes the realtor to also suggest to the buyer to the lower price and your realtor should have made some comparables in your neighborhood to begin with and told you what price to put the house up for. |
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Breanne S
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All you need to do is fill out and sign a "cancellation of listing". you might have to pay a percentage of the advertising fees the agent paid(if he avertised your property). you can always get out of a listing contract no matter what. |
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timothy y
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I am a Realtor so I assure the answer I am about to give you is correct. The NAR has apporved release from designed just for this need. You reserve the right to fire your listing company at anytime. Now keep in mind not all of us are slack, and this is the busiest time of the year. As far as by owner, its a very risqe! There are lots of legal issues that surround the Real Esate sale that can end you up in court. Not to mention, the best advertisement you can possibly get is through the MLS. |
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SmartA$$
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chances are, if your home hasn't sold in 3 months its time to lower the price, be realistic.
Sorry you got such a jerk of a realitor but you are probably stuck, You could talk to him (if you can get a hold of him) tell him you're just not willing to budge on the price and maybe he will agree to cancel the contract if he realizes he'll never make a sale with the price too high.
Another option is to just wait another 3 months until you're contract expires, then hire another realitor
Try re-reading your contract for any clause that might get you off the hook, talk to another realitor about the situation, they may know some trick where you could switch to another realitor, maybe with the same company for the rest of your contract.
You might also call the broker or company that that agent works for and explain your situation and file a complaint, no company wants jerks representing them so they may force him to let you out of the contract and give you a new agent
Good luck, I hope one of these ideas helps |
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Jon
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if you are unhappy with his services, then you should be able to terminate the contract. Talk to him or even better, talk to his superiors about his antics. |
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sweetart993
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Usually you can. Tell him why you'd like to terminate the contract, and if he says no, talk to the realestate company. |
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cvcastrejon
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You can terminate it. If he doesn't get you the price you agreed on then you are not obligated to stay with him. Talk to another realtor and see what the policy is.
But part of the contract is that he is looking out for your best interest...clearly he is not so he has broken the contract just tell him to cancel it if he doesn't tell him your reporting him for not looking for not doing his job and pushing you to an unwanted contract. He knows he could lose his license
(they dont play)
the contracts should never be for half a year. Its usually for a couple of months. |
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freed1one
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that all depends on where you live. Not all the laws apply in the same states. You can however make a complaint with the broker and see what he or she suggests. The broker should go to any extent to guarantee your happieness. Call them a call. |
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jessicas127
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Of course!!! Call the main office where he works and talk to his boss!! Good luck!!! |
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dynamite360
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speak to the housing authority, or file a complaint, hire a lawyer or reread ur contract..... |
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larry s
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probably no...realtors are slime!! they speak with forked tongue...never believe anything they say. |
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