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Old 03-31-2015, 08:40 PM
 
Location: East Millcreek
2,523 posts, read 6,139,329 times
Reputation: 2977

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I'm considering terminating our sales agreement with the broker listing our house. The contract says that in such an event the broker still retains rights to their commission and recovery of any other expenses incurred (ad placements, etc). Obviously I want to avoid this. My position is that they provided incorrect advice on several critical issues thereby costing me substantial $$ and delaying the sale.

I don't want to sue, just make it clear that if they won't let me out without such a penalty (which they'd have to sue me for) that I have grounds of my own to go after them. I want respective hold-harmless letters exchanged.

The question: what typically constitutes non-performance or incompetence by a real estate agent or agency? This isn't a case of lying, cheating or stealing. It's just stupidity and providing bad advice stemming from laziness (which became apparent after the fact). I don't want to start a war I can't win (winning = no-fault, no-cost contract termination).

Please don't ask the circumstances, doesn't matter. I just want to know what's needed to break contract without penalty. Comments welcome, thanks much.
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Old 03-31-2015, 08:49 PM
 
Location: Cary, NC
38,836 posts, read 67,262,262 times
Reputation: 39633
1. Lawyer for a contract is the default response.

2. Your contract will, or at least SHOULD, specify terms of disengagement. If you want to revise the terms, see #1.
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Old 03-31-2015, 08:49 PM
 
Location: Fuquay Varina, NC
86 posts, read 137,376 times
Reputation: 119
What do you mean "sales agreement"? Do you mean the listing agreement?, or have you entered a sales contract with a buyer while being represented by this agent?
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Old 03-31-2015, 08:50 PM
 
Location: The Triad (NC)
31,880 posts, read 73,102,197 times
Reputation: 38751
Quote:
Originally Posted by kletter1mann View Post
I'm considering terminating our sales agreement with the broker listing our house.
My position is...

Please don't ask the circumstances, doesn't matter.
I just want to know...
You're asking for legal advice and this isn't the place for that.
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Old 03-31-2015, 08:54 PM
 
Location: East Millcreek
2,523 posts, read 6,139,329 times
Reputation: 2977
Quote:
Originally Posted by MikeJaquish View Post
1. Lawyer for a contract is the default response.

2. Your contract will, or at least SHOULD, specify terms of disengagement. If you want to revise the terms, see #1.
Yes, of course, I realize that.
My hope is that somebody here knows enough about such issues to offer some general statements, experiences or caveats that might be helpful before I shell out $$ for a lawyer.
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Old 03-31-2015, 09:00 PM
 
Location: Cary, NC
38,836 posts, read 67,262,262 times
Reputation: 39633
Quote:
Originally Posted by kletter1mann View Post
Yes, of course, I realize that.
My hope is that somebody here knows enough about such issues to offer some general statements, experiences or caveats that might be helpful before I shell out $$ for a lawyer.
OK.
Build your case and present it to the Broker.
Nothing shrill or emotional, just expressing the grounds for your general disappointment, and your desire to part company.
Ask to be released and released of all obligation to the brokerage.

You may just get it. You may not.
And, if your contract is so vague that the brokerage stands to collect on commission and ads, and those costs were not specified with limits, you probably get to choose between paying the attorney or staying married to the brokerage.
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Old 03-31-2015, 09:05 PM
 
Location: East Millcreek
2,523 posts, read 6,139,329 times
Reputation: 2977
Quote:
Originally Posted by Vexxer View Post
What do you mean "sales agreement"? Do you mean the listing agreement?, or have you entered a sales contract with a buyer while being represented by this agent?
Listing agreement.
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Old 04-01-2015, 02:47 AM
 
6,450 posts, read 4,935,118 times
Reputation: 14123
Probably cheaper and less stressful to ride out the listing. I can't imagine the contract says you're responsible for commission if the house doesn't sell. If the crummy broker sells the house by the end of the contract, pinch your nose and accept the check and move on. Or, do you already have a buyer?
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Old 04-01-2015, 05:52 AM
 
Location: Howard County, Maryland
1,539 posts, read 2,021,595 times
Reputation: 2446
Without knowing the circumstances or the wording of your contract, it is difficult to advise you accurately. But in general, I'd have a meeting with the managing broker. Just say what you've said here; basically you have to come to a mutual agreement to be released from a contract. If you feel that their actions have been so great that you need to involve the real estate commission in your state, that may be another avenue to seek possible restitution. If you cannot come to a mutual agreement to dissolve the contract then yes, lawyer time.
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Old 04-01-2015, 06:36 AM
 
Location: Northern Maine
10,264 posts, read 16,663,103 times
Reputation: 10919
cjmeck nailed it. She also wrote the magic words; real estate commission. Most designated brokers would drop the OP like a hot potato unless the listing client has a back door buyer he wants to sell to without paying a commission. That happens too.
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