How long typically does a contract with a realtor last when you ask them to sell your house?

Question

I am in Arizona. My girlfriend owns a house with her sister. They have a horrible realtor and there maybe be a contract with her but neither are sure and haven't asked yet. Typically how long would a contract last and would both owners of the house have to sign it or only one owner?

One sister wants to buy the other sister out of the house now and the realtor is expecting her commission if they decide to do that and has not even been helpful selling the house. Its been up now for about 4 months with Realty Executives.

Answer 1

Dear friends,
Normally a written contract with a Realtor can be any where between 60 to 180 days, depending on the terms of the contract and if the contract was an "Exclusive-Right-To-Sell" in which only the Realtor has the right to sell the property for a commission until the expiration of the contract. Under the law, you can fire a Realtor for non-performing or non-compliance with the terms of the contract, and it must be in writing. And in order to avoid paying a commission to the former Realtor, you should wait for a period of more than 30 days to hire a new Realtor. If there is an actual contract, please try to convince your sister to wait until the expiration of the contract. Wait 30 days or more, find a reputable Title Company and both sister can complete the sale and purchase of the house without a Realtor being involved and both save money and time. If you have doubt about the practices of the Realtor, you can present a formal complaint to the Board of Realtors and to the Real Estate Commission of the State of Arizona. Hope this help you gals. And remember that the more important thing between sisters is your relationship.

Answer 2

I believe the default term is 6 months. Check your contract copy. Both owners have to sign the contract unless one has given the other a 'Power of Attorney'. Realtors will try to insert the maximum length legally permitted because it suits them best. Even if they are not instrumental for the sale of the home they still will get a share of the commission while their contract is active and valid. This contract is binding.

It makes a lot of sense to negotiate this point before signing a contract with any Realtor. The standard contract forms can be negotiated for time and commission. You may need to wait until the contract expires.
Depending how well the sisters get along and trust each other they could venture to take the property off the market and one could sign a 'quit claim' to the other, while settling the payment separately. Officially the home wasn't 'sold' under those circumstances because one owner released their claim to the property which leaves the other as sole owner.

Answer 3

This is normally negotiated. As stated above. Most Realtors want you for at least 6 months, more if they get you to listen to them. You really should have a copy of your listing agreement to check it. Also, you DO NOT go telling them your Sister going to buy your half (Speaking of your friends). The contract may state if you receive an offer while it listed through their service you are obligated to pay their commission. They can use the approach that their advertising got you the buyer at their expense. I would get the Listing Agreement and look what the options are to remove the house from the market and get this cleared up first. Then the sister can buy the other half. DO NOT ever tell this stuff to Crooks like this, they should have just said they have decided no one want the house so the just go ahead and not sell and live there.

Answer 4

1) See your listinng agreement for the listing termination date.
2) Call the agent and tell them you are no longer interested in selling, stop showings, remove it from the MLS and remove their sign, cease all efforts to sell the home. Then put it in writing and fax a copy to the office, it is dated and time stamped by their receiving machine.
3) Check the "hold-over" clause, they may have to provide you with a name of possible "buyers' that viewed the home while under the listing agreement to carry weight and claim a commission. Avoid stating the sister want ot buy it out.
4) They have to have a fully executed listing contract to be a valid agreement, or the agent is probably violating their office policy, state regulations and the Code of Ethics and Standards of Practice Realtors operate under, thus making this person eligible for charges being brought up against them at the local Board of Realtors, and/or maybe the state regulating authority.
5) A listing agreement unsigned by all owners of record or by an authorized by a specific Power of Attorney is virtually unenforcable. To be enforcable it must be signed by all owners of record.

Hope this may be of some value to you. You may also have an attorney discharge them on your behalf, usually a lawsuit threat will be sufficient.

Answer 5

Each Realtor has the right to decide on the listing agreement how long the agreement is valid for. Check on that first to find out how long it's valid.

Another option is to simply call the Realtor, and tell them flat out that they are not doing a satisfactory job for you. Tell them to get their sign out of the yard, and that you're terminating the listing agreement. Yes, in a sense, this is "firing" the Realtor.

Answer 6

3 to 6 months, read the contract, all owners on title must sign as you may not have a valid listing. Legal questions, make an appointment with an attorney who as a speciality with real estate. Call the Broker for additional insight.

Answer 7

Most listing agreements are 90 days to 180 days (3 to 6 months).
get a copy of the listing agreement.

Answer 8

the 1st anwer is authentic. You negotiate this earlier you start up up the settlement. then you definately've the Realtor teach you this on the settlement earlier you sign it. Be adament which you extremely prefer ninety days. Any Realtor who is going to do a sturdy pastime could desire to be beneficial you will connect up for yet another ninety days if necessary. yet make him/her teach he/she is worth of the added ninety days. If any Realtor tells you no person will do ninety days, purely properly say, "enable me think of it over and that i gets back to you." Then run to the telephone and call somebody else. And in today's marketplace, the main you are able to desire to pay is 5%. Negotiate that, too. The itemizing agent gets 2%, and the advertising agent 3%. do no longer decrease the broking's agent's fee, considering you prefer brokers to show your place. the extra constructive itemizing brokers will enable 2%, as they make it up on quantity. in the event that they're a sturdy itemizing agent, they could have quantity.