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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.
My listing contract did not have a termination clause. My agent (friend at the time) said I can take the house off the market anytime during the contract but I couldn't cancel. She said I could take the house off the market but I couldn't list it with another agent or if I sold it myself I would have to give them commission just the same so she said there would be no reason to sell it myself. Hmmmm, everything she was telling me WASN'T in the contract either. Go figure ....
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,307,357 times
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If I had the listing you could cancel it at any time for any reason without any argument.
In CA you can terminate the agreement by saying so in a certified letter to the brokerage. All other parts of the agreement stand including the clause that says in the next 60 days if you enter into an agreement to sell it to someone that was introduced to the property while it was listed you owe me the 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.
Thanks PC. I learn something new, every day. And I am surprised, very surprised.
I would call the listing agent and managing broker and let them know that I am not moving and want to terminate. If that does not work, I would change the ask price and add $1MM to it.
Thanks PC. I learn something new, every day. And I am surprised, very surprised.
I would call the listing agent and managing broker and let them know that I am not moving and want to terminate. If that does not work, I would change the ask price and add $1MM to it.
I agree that I learned something new today. Sellers in KS beware! Wow!
You've got legitimate grounds for withdrawal, your life situation has changed. I'm sure the the agent and her/his broker would remove the house from the market for you, as long as you don't turn around and list it with a competitor and be willing to sell to somebody who was introduced during their listing period. If they won't let you out of the contract, ask to be removed from MLS and wait for the contract to expire.
In NJ I understood listing agreements were just that- an agreement- not an actual contract - so that a seller could always opt out for any reason whatsoever- can anyone tell me positively that the information I received is wrong?
In NC, all contracts must have a listing date that starts and ends.
I always tell my sellers that if I'm doing something they don't like, to please tell ME and we'll see if we can correct it. If not, I'd allow them out of their listing contract. Some companies will not agree to this but my company is very flexible with me.
I think it would create a bad feeling if a seller were forced to keep an agent or company to sell their house.
So...my suggestion would be to decide if you want the agents to change something or if you just want to end your contract. Be honest. Tell them how you feel.
I totally understand the "happy break" and I feel the same way!
If you don't NEED to sell anymore wait, hopefully the market will adjust in a year or two. Call your agent and fill 'em in.... I bet it's a five minute conversation. Every agent knows that trying to sell the home of a unmotivated Seller in this market is like throwing time and advertising dollars out the window. Get it over with you'll feel better when it is over.
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