How long should a listing agreement last?

Question

I am currently interviewing brokers/agent to sell my townhown in California. He wants a 6 month listing agmt. I asked him under what conditions would he cancel the agreement. He said he would cancel but I would have to pay him approx. $7,000 for expenses he's incurred. He hasn't sold anything in last 6 mos. and has been in r.e. business for 3 yrs. What do you think?

Answer 1

Find a different agent..doesn't sound like he is very good.

check out homegains.com

we used it to buy our new house and sell the old house. you fill out all you information about what kind of agent you are looking for and agents respond. you get to read their history and commission rates without talking to them. We got 30+ responces to selling our house, we responded to 6 of them, interviewed 3 and the selected. In buying the next house we got 20+ responces, responded to 3, talked to 2, and then selected.

Answer 2

I have run into this before, but the usual way is 90 Days. If he says he does all the work for 90 days and you get another realtor who sells his work. Tell him if he does a good job, you will renew it on a month to month basis.

If he says no, tell him you will find someone who will, and it won't be hard to find someone.

The idea on getting 6 months or longer is so they can give you an unrealistic idea of what it will sell for, then after a month, he will say the market changed and you have to lower your price, and you are locked into him for another 5 months,

Do 90 days, and if he starts playing games, remind him, he can be replaced at no cost to you at 90 days./

Answer 3

NO Listing agreements vary from a day to 6 months. Normally you don't have to pay any fees if the house doesn't sell. No wonder he hasn't sold any. Go to an established REALTOR.

Answer 4

6 months is average, but i don't like the 7k fee he has.
If i take a listing and someone wants out, i ask for only my advertising costs back. I doubt he is spending 7k in ads.
RE Agent, Remax