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Hey slvrcts04...I am only licensed in NC so hard to say how the laws work in NY. But...as for NC...if you have signed a listing agreement with your realtor and a friend of yours pops up and wants to buy your home...while under contract with your agent...he is still due a commission. Check it out and see how it works in NY. Most of my clients that have previously listed their property with another agent say the biggest complaint that they have is that their agent isn't in contact with them. I like to tell my clients what I'mdoing and why...otherwise...they think I'm just sitting at the computer all day long chatting with the people on the NC Forum!!! Ok...so I can multi task very well!!! Vicki
I heard from another agent that we previously used that we may be able to get an unconditional release if we are unhappy. I'll have to check further, however we did agree with the realtor that if we sell on our own they would get a 2% commission rather than 4%. I still feel uncomfortable giving them about 12k for something they did not do.
I never advocate firing one's agent, because I think if you talk it out...it should resolve itself, but...connie is right! And I agree with Tornadoalley, as well. I'm impressed that we have a real attorney on our little forum group! So now that we know...can we get free legal advice any time??? Just kidding! By the way...what does everyone else here do for a living??? Vicki
To answer for NY it is the same way, if you sign with an agent and you sell on your own, you still owe that agent BUT you can agree if you sell it on your own their commission is less...i think a contract is a contract and you also determine the lenght of it, so sign up for a few weeks and see how it goes, if you are unhappy then go to another, I know many agents here want to sign up for long periods of time and then if you are unhappy, you have to wait for the listing contract to expire.
To answer for NY it is the same way, if you sign with an agent and you sell on your own, you still owe that agent BUT you can agree if you sell it on your own their commission is less...i think a contract is a contract and you also determine the lenght of it, so sign up for a few weeks and see how it goes, if you are unhappy then go to another, I know many agents here want to sign up for long periods of time and then if you are unhappy, you have to wait for the listing contract to expire.
Unfortunately, we signed an 8 month contract. Who knew we would sell so fast through a neighbor! Guess I have to be thankful that we did sell & our house didn't sit for months like other people on LI. Hopefully, we go into contract this week.
To answer for NY it is the same way, if you sign with an agent and you sell on your own, you still owe that agent BUT you can agree if you sell it on your own their commission is less...i think a contract is a contract and you also determine the lenght of it, so sign up for a few weeks and see how it goes, if you are unhappy then go to another, I know many agents here want to sign up for long periods of time and then if you are unhappy, you have to wait for the listing contract to expire.
Agree. But, a contract is a contract if BOTH partied are full filling their end. If the Agent isn't then the seller should be able to cancel for breech then. Agree? My experience shows me when a seller goes to the broker and asks to get out, they are let out. No court would make a seller sell his home so the agent would get his/her commission.
Now, to defend the agent, if they are doing their job and you cancel only to sell and not have to pay the commission, then they should get their commission as agreed.
Oh you too? You have my sympathy. I had the same experience. BTW, if you are curious to get feedback, my agent had told me that I had free will to call the buyer's agent and ask for feedback, whether it be positive or negative, so don't feel that you have to depend on your own agent to get feedback. Because unless the buyer's agent calls, I don't think your own agent would be interested in just small talk from the other agent. Sometimes you have to do their job as well. Sad but true.
Really?? Where are you from?? I am in LI and was told not to have any contact with buyers agent, that all talks have to go through my agent, (who I can't stand). We had about 15 showings in the last 3 weeks, and not once did he call to get feedback, even though I kept calling him and asking him to do that. We did get 2 offers, one really, really low, and the other we would have accepted, but they changed their minds. I don't think I would be this stressed, but the agent just doesn't seem to be doing his job!!
We've sold 3 houses (2 in WI and 1 in NJ) before settling in NC. We always asked for 3 month listing contracts. When we were selling our house in NJ, our realtor quit her job 1 month after we signed on with her. The agency handed us over to another agent, who we knew nothing about. We were very unhappy with her and asked to be released from our contract. The broker owner said he'd release us, but he would only give us a conditional release. So we had to wait until the contract with him was up either way. We asked our closing attorney if there was anything we could do ,and she said the contract was binding and we would just have to wait. The day the contract expired we listed with another agent and got an offer that first week. I would highly recommend a maximum of 3 months for a listing contract. If we hadn't asked for it, we would have been stuck with a horrible agent for another 3 months.
Really?? Where are you from?? I am in LI and was told not to have any contact with buyers agent, that all talks have to go through my agent, (who I can't stand). We had about 15 showings in the last 3 weeks, and not once did he call to get feedback, even though I kept calling him and asking him to do that. We did get 2 offers, one really, really low, and the other we would have accepted, but they changed their minds. I don't think I would be this stressed, but the agent just doesn't seem to be doing his job!!
I agree, Tornadoalley, no one can force you to sell so most brokers will let you out of contract.
As for the friend/neighbor buying your home...I've run into alot of that type of situations and I have to warn you a bit...don't count your chickens until they are hatched.
I had buyers who were selling their home in Pleasant Valley, NY and the neighbors were buying...or so they said. They did the contracts but all of a sudden, the neighbors couldn't seem to get their financing in order. To make a long story short...weeks went by and finally my clients decided to go ahead and list the home with a realtor in NY and now...months later...the neighbors are still saying they want it but finally...a real buyer came along. Now my clients can go ahead with the home they purchased in NC!
Well I was awake but didn't want to wake my family by being on the computer last night! Have not slept since returning home last saturday from the east Coast. I could have typed these posts. I am constantly on stand by. Don't know why house has not been shown once since I have been home. OUr realtor who is a personal friend has been pretty blase. We were gone 6 weeks and the house was left pristene. She has not had a realtor caravan yet and only four people have looked at the house. She did not even have flyers on our sign when we got home. Friend in the same neighborhood who is also moving to the South has had her house on the market for 2 weeks and has had 30 people look at it. We have given our realtor 2 weeks (time we don't have) to get her act together. Remember she is a friend she told me my stress was bring bad kharma to the selling of the house and if we would relax it would sell. I am pretty DONE but DH is playing it cool. Of course he isn't the one trying to keep a 3500 sq' home clean with three kids underfoot and dark hardwood floors throughout (impossible) to keep pristine! UGH! I feel everyones pain. I just want to be sitting back in NC sipping my Sweet Tea!
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I don't think I would be this stressed, but the agent just doesn't seem to be doing his job!!
