I signed a contract with a realtor to sell my house. However, I am unhappy with the effort to market and sell it and believe that in someone elses hands, my house will sell a lot faster. There has only been two showings in over 7 months and many other houses are selling in our area.
2006-10-07 06:23:06 · 6 answers · asked by ShyGuy641 2 in Business & Finance ➔ Renting & Real Estate
First of all the operative word in your question is "contract" and you need to understand that under a contract there are certain rights and obligations that the parties rely on, in the conduct of the performances necessary to satisfy the terms of such contracts.
Any one that advices you that it is ok to enter into two or more contracts for the same subject matter is misleading you into committing a potentially devastating mistake.
When you list a property for sale you enter into a contract with an agency that will begin to market the property and spend substantial amount of money and time doing so. If their marketing is not successful then, and in accordance to the contract or by agreement of the parties, both parties have the right to change, add terms to or cancel the contract and in the event of cancellation you are again free to list the property with another agency.
It is important to note that when you list a property for sale the obligation you have is to pay a commission in the event that the agent brings you an offer for the exact terms you have listed in the listing contract. You do not have to sell the property even though you have stated you will sell it in the listing contract.
Because of the residual acts performed by the agent during the course of the listing and to avoid conflicts, such as procuring cause, with the next agent listing your property it is best to get a written cancellation agreement of the existing listing contract before you list the property again.
As a qualifying broker I am aware of as are most qualifying brokers of the shortcomings of some of their agents when it comes to marketing a property and will work with you towards a resolution of your concern, we use these type of situations to improve the training of our agents and our marketing programs.
Therefore explain to the qualifying broker of your agent your concerns and see what suggestions you might receive, if any, before you make your decision.
Buena Suerte
2006-10-08 02:32:11 · answer #1 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Most listing contracts are for 6 months. If your have gone over 7 months already, the listing contract may have expired already. If that is the case and you have not extended the agreement, you are free go move on. Take at look at your contract first.
Although there are no laws prohibiting you from signing up with two Realtors at the same time, you don't want to do that. Otherwise, you would violate the exclusivity of each of the contract. It is a civil matter and you can be in breach. However, there are contracts that are not exclusive listing contract contracts. It is called an agency listing agreement. It merely agrees to pay the agent a commission if the agent brings in a buyer. It allows the seller to work directly with other agents and buyers directly. That is most frequently used in commercial real estate. I would not recommend anyone in the residential side to use that because residential real estate depends on networking of agents while commercial does not.
Finally, there may be other factors that affect your home. You need to see if the listing price of you house is in range. The last 6 months, prices have came down in many market places. Inventory in many places have tripled or quadrupled. You need to review that with your agent.
2006-10-07 07:14:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No, I believe you have to wait until the contract is up. Usually contracts only last 6 months, although some do last 9-12. I would suggest talking to your realtor if you are that uphappy with their performance. Be up front with them and tell them they suck. You are paying them a lot for selling your house for you. Maybe you can talk them into ending the contract or for them to try harder to sell it for you. If you have a copy of the contract you signed look it over for any loopholes.
2006-10-07 06:47:26 · answer #3 · answered by mommyem 4 · 0⤊ 0⤋
it is unlawful to change any contract after it quite is been signed. the only thank you to achieve this is to redraw the contract OR to have the two (or all) events preliminary all variations. Any unsigned variations render the completed contract null and void in maximum states. examine with your community Clerk of courtroom or lawyer to be sure your State and County regulations. With the help they furnish overriding something contradictory that I say... i assume you have the unique replica you signed. If this continues to be the case, I recommend you do here: a million. do no longer, decrease than any circumstances, relinquish your unique signed replica!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!... 2. Notify the realtor which you're conscious the contract has been nullified, and which you no longer desire to maintain their centers. 3. in the event that they are area of a partnership, consortium, franchise, or nationwide chain, notify the guy that runs the community workplace besides because of the fact the corporate headquarters. 4. Notify the extra suitable business enterprise Bureau besides because of the fact the Realtor affiliation on your section. 5. constantly, constantly, constantly study an entire contract formerly you sign it and draw lines or XXX any sparkling aspects so as that they might no longer be altered later. constantly get and shop copies of records you sign once you sign THEM (whether they are to be signed by the different social gathering once you come them). additionally, shop substitute copies AND originals any time variations are made to a freelance, or signatures extra. I desire you success :)
2016-10-15 22:53:28 · answer #4 · answered by ? 4 · 0⤊ 0⤋
You'll have to wait for the listing to expire... it's difficult to win a case should it go to trial as you have to prove your listing was abandoned by the Realtor. Try to list for only six month intervals... you may not be satisfied with the other Realtor as well. By the way, in most markets if the home has not sold in 180 days, it's usually overpriced.
2006-10-07 07:47:47 · answer #5 · answered by Mike S 7 · 0⤊ 0⤋
You can end your contract with your present realtor at any time for any reason. Just call your realtor and let him/her know. You will sign a termination form and you are then free to contract with a new realtor.
2006-10-07 06:43:54 · answer #6 · answered by Jim 3 · 0⤊ 0⤋