English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

Quote from realtor ..."broker told me to please remind you of section 4A3 of the Residential Listing Agreement (Seller agrees to pay to Broker as compensation for services irrespective of agency relationships either 4.5% of the listing price If, without Broker’s prior written consent, the Property is withdrawn from sale, conveyed, leased, rented otherwise transferred, or made unmarketable by a voluntary act of Seller during the Listing Period, or any extension)."

Since i removed her sign from my window of my property, and told her to remove the property from any listing.

2006-10-19 21:51:02 · 6 answers · asked by spreenjeff 1 in Business & Finance Renting & Real Estate

6 answers

I'm not an attorney and I don't know what state you're in, but in Texas, one would contact the Texas Real Estate Commission (TREC) to inquire as to whether or not they consider that clause ethical and a violation of the Real Estate Commission's rules. If someone files a formal complaint with TREC, then TREC must investigate the complaint. So you may want to call the agency that oversees your state's Real Estate licensing, rules, and regulations and talk to someone there. In Texas, if a seller wishes to terminate a listing agreement with an agent/broker, the agent/broker must comply with the seller's wishes. If the agent/broker did not perform under the listing agreement, then the agent/broker has no right to demand commission and in fact, is violating TREC rules for doing so. If the seller did not comply with the listing agreement (excluding any clause that TREC would deem unethical or an attempt by an agent to practice law without a license) then the agent/broker has the right to demand commission. But since that does not promote good will, most agents/brokers do not pursue such things, as an agent's/broker's business thrives on referrals and word-of-mouth. I am certain that this agent will neither receive any referrals from you, nor will you go around town singing his/her praises, which does not benefit his/her business at all. How much longer do you have before the listing expires? If nothing else, leave it listed and let it expire, as it sounds like they did not cover that in their clause.

Jeff S. had some good advice, but I disagree with him regarding not selling if a full price offer is submitted, as in Texas, an agent CAN demand commission from someone for refusing to sell the property if an offer comes in at full price, as the agent did what he/she was hired to do - procure a ready, willing, and able buyer. Also, I disagree with him about the sign because if putting a sign in the yard is something that was agreed to in the listing agreement, then you are in default of the terms of the listing agreement and you are making the property unmarketable. Believe it or not, a lot of people still drive around, looking at houses and calling to inquire based on a sign in the yard.

Bostonianinmo also had some good advice about contacting the broker, as the agent may be blowing smoke. Again, in Texas, the broker is responsible for the agent that he/she sponsors. So, if the agent is acting unethically, the broker might be held liable as a result of what the agent says or the things the agent does.

Good luck to you!

2006-10-20 03:12:41 · answer #1 · answered by Cheeky Realtor 3 · 0 0

How did you make the sale of the property unmarketable? You need to mention that, were you too high? If so, Did you reduce the price? That's generally what happens, if you did reduce the price then I don't see how you made it unmarketable, unless you were not allowing it to be shown or limited access, etc. You need to speak to the broker and come to an agreement, you were not to remove the signs or anything else, as it goes against you and the contract. You are legally responsible, if the home didn't sell during the listing period or/and extension then you might've been home free, but you didn't wait for that to occur, get some legal advice. It's a tough one.

2016-05-22 04:39:09 · answer #2 · answered by ? 4 · 0 0

it is your home and if you dont want to sell it at all you dont have to. i have been involved in real estate for 22 years and have never not taken a house off the market if the seller decides not to sell ... now if the broker thinks you are screwing around and trying to sell it behind her back during the listing period that's a different story...

this is an unusual clause in a listing agreement but anything is possible. if you dont want to sell it you should speak with an attorney or the board of realtors in your area for advice.

the alternative is to leave it listed on the market but dont agree to any offers. even if you get a full price offer you can insist on an all cash deal making it unlikely that it could be sold.

as far as the sign is concerned if you dont want the sign you dont need to have the sign. your listing agreement may provide a clause that allows the broker to put one up but that is usually with you ongoing consent. if she gives you a hard time about that ask her for a list of every listing her compnay has and check to see if everyone has a sign. if they all do leave it if even one does not have it insist that it to be removed.

good luck

2006-10-20 01:29:38 · answer #3 · answered by Anonymous · 0 0

And your question is??

You signed a CONTRACT. If you didn't know what you were doing at the time you have only yourself to blame.

You don't just get to unilaterally break an agreement without penalty.

But do speak to the broker yourself. The agent may just be blowing smoke. Many brokers would rather maintain goodwill than cause a lot of grief. If you cover his actual out-of-pocket costs he may be willing to waive the fee.

If you feel you have good reason to break the agreement without penalty, consult with an attorney.

2006-10-19 21:57:19 · answer #4 · answered by Bostonian In MO 7 · 1 1

Take the listing agreement to your attorney right now. You are beyond anything self-help advice can do for you. Talk it over with your attorney as soon as you can.

2006-10-19 22:00:12 · answer #5 · answered by auntb93again 7 · 1 1

You have to honor the contract YOU signed!

2006-10-19 22:03:33 · answer #6 · answered by MC 7 · 0 1

fedest.com, questions and answers