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Old 07-20-2008, 01:47 PM
 
3,191 posts, read 5,338,361 times
Reputation: 2067
Default how to end listing contract?

Need some advice from our CD real estate 'gurus'

For several reasons, we are contemplating ending a listing contract. I have read through the contract numerous times and can find nothing specific as to terminating it early.

Where or how can I get that info?

Or should we just flat out tell the agents (they are a 2 person 'team') we're done.
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Old 07-20-2008, 02:23 PM
 
Location: Houston-ish, TX
1,099 posts, read 2,225,545 times
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Well, I think both. You should know what the contract says and talk to your agents about it. Most agents won't hold you to it, but you are in a contract.
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Old 07-20-2008, 06:17 PM
 
Location: Salem, OR
10,679 posts, read 16,967,492 times
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You listing contract says nothing about termination?

Since it says nothing you need to call and talk with your agents and say you want to terminate the contract. You'll have to negotiate the terms from there.
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Old 07-20-2008, 06:49 PM
 
Location: Gorham, Maine
1,637 posts, read 2,474,421 times
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Need more information - why are terminating?
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Old 07-20-2008, 07:15 PM
 
Location: Barrington
17,259 posts, read 12,437,907 times
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Do yourself a favor and read the agreement again. I am hard -pressed to think of a contract in any business that does not provide for a termination clause.

In my area, the owner can terminate the listing with ( fill in the blank) days notice. There are no strings or costs involved in doing so. This may or may not be the case in your area.
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Old 07-21-2008, 05:51 AM
 
Location: Palm Coast, Fl
2,248 posts, read 5,577,484 times
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Kansas Real Estate Commission

Well, ain't we just learning something every day? Look at that site..those are Kansas contracts and they are IRREVOCABLE. There is NOTHING in either listing contract that explains how it can be canceled, for what reasons, for a fee, nothing. Nadda.
Wow. I'm surprised!

So, I guess unless there is something they did very wrong, I don't know how you would get out of the agreement.
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Old 07-21-2008, 07:55 AM
 
Location: DFW - Coppell / Las Colinas
17,180 posts, read 15,232,467 times
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Our listing agreements have a start date and an end date with no clause for cancellation. Our broker will usually work with a seller to get them another good agent or totally cancel (in most cases) if they are completely unhappy.

No one wants a mad or unhappy client so we usually wish them well and let them go elsewhere.

When these clients leave we are usually glad to see them go also since many times they've made our life miserable also.
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Old 07-21-2008, 08:25 AM
 
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Thanks palmcoasting- I just digested that line this morning, upon reading the darn listing contract yet again. Yowsie...
But interestingly enough, at the brokers open last week, a comment was made that if, in general, sellers don't do _______, then fire them. Hum, how 'bout them apples...but according to the contract, even the agent 'can't' terminate.

Well I am going to do some research on this....

Rakin, you said "When these clients leave we are usually glad to see them go also since many times they've made our life miserable also."

ROTF....I won't even take the time to post about our first agent from earlier this year and how miserable WE were...and glad to see them go.
but I do understand what you mean. Some sellers are completely and totally clueless as to what constitutes a 'good' seller.
Ah, sellers and agents...the good , the bad, and the ugly.

whofanme- Hubby was downsized after a year here, we put house on market(at a loss..of course)
thinking we would be relocating out of the area, 6 mths after intensive nationwide job search he was offered a postion here recently. So we are staying for now. Thought we would keep the house on the market, and possibly downsize, or more likely rent.

Now we are being urged to spend $$$$ on some things that weren't an 'issue' a couple of months ago......... or some crap...just to get it sold...
AND lower the price too!! Not just lower the price.
But since we aren't up against a wall and as desperate as we were 3 weeks ago, not sure if it is worth it.
Seriously considering riding it out 'til next spring, and if we can sell then, fine. If not, will be in the house 2 yrs. and figured we could always rent it if need be, and take our losses that way. Since there is no tax 'relief' for loss when selling a primary residence...

(how come primary residence real estate can't qualify as gambling loses or winnings

I guess I need to call the agent back...they are very determined to sell this, ha.
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Old 07-21-2008, 08:28 AM
 
Location: DFW - Coppell / Las Colinas
17,180 posts, read 15,232,467 times
Reputation: 15587
One thing I've learned in life is anyone who would use the name Crazyma is someone you wouldn't want to mess with.

It would be wise for your agent to let the listing cancel.
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Old 07-21-2008, 08:53 AM
 
3,191 posts, read 5,338,361 times
Reputation: 2067
Rakin, oh but I am a nice sort of crazy.

Yes, maybe wise....bless their hearts.
If and when it happens, want it to be a 'happy' break, with no hard feelings.. ya know?
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