What is the definition of conditional withdrawal in a real estate contract?

Question

I have a real estate contract that I want to get out of because the realtor is not showing my home but he wants 500.00 - A conditional withdrawel fee????

House is not being shown. Priced according to what the realtor told me - then I dropped the price 3 times and did some other work that he said would help the house to show better - unfortunately the house is not even showing.

Answer 1

First off, you need to find out why the home isn't being shown. Very few agents show the homes they list themselves; most are placed on the MLS and are shown and sold by other agents. The brokers and agents then split the commissions.

If a house isn't being shown at all, there is something wrong. The most common reason for a lack of showings by far is too high an asking price. Even a dump of a place in a bad neighborhood will sell if the price is right.

Have you discussed this with the agent? Did he recommend an asking price but you overrode the recommendation and put on a much higher asking price. If that's the case, the agent is well within his rights to enforce the $500.00 fee for cancelling the listing.