I want to cancel my listing agreement with my realtor?

Question

I listed my home for sale the end of October of 2006. We got a contract on it the end of January, but now it fell through. My wife and I decided that it isn't worth the hassle to show the house again (too hard on the kids) and that we want to just add a room on to our existing home.

We signed a standard listing agreement with this realtor until May of 2007.

If we decide to request to cancel the listing, what will we owe financially to the realtor?

Answer 1

The only compensation you agreed to pay the realtor is a percentage of the sell price of the house. If you don't sell the house, how can you owe anything?

Talk with the Realtor and tell them that you are taking the house off the market.

I will caution you to read the contract. Many times if you sell your house in a certain period of time after the contract is cancelled or expired, the Realtor has a right to a claim for compensation. In other words, they don't want you cancelling the contract because you found a buyer after they've done months of work.

Answer 2

Two things: first, read your listing agreement. It's likely that you can cancel it by either calling or notifying in writing the agent and the agent's broker. Second, beware that you may be obligated to pay a commission to this agent if you sell the house during the original listing period, even if you cancel the listing. If the agent has been doing a good job and you are cancelling for reasons not under his/her control, consider giving the agent a few referrals. Agents live by helping people buy and sell properties. You may or may not know anyone currently looking, but you do know people who would like to know more about the real estate market in their area or how much equity they've earned in their home. If the agent has done well, reward him/her with the names of a few people from work, church, clubs or organizations you belong to. Let them use your name on introduction or call the people for them. Later, if you choose, you will have one loyal agent to work with!

Answer 3

If you are working with an understanding realtor they can just cancel the listing for you, so you won't have to show your home.. However there is a statement in the contract that keeps you from selling your home for a given period of time after the contract is ended. This keeps sellers from getting free listings and then selling their home to a party produced by the agents listing. I hope this helps you.

Answer 4

in basic terms touch the Realtor, clarify the situation, and ask that the itemizing be cancelled. there's a ninety 9% threat that it incredibly is going to be cancelled without difficulty. If there is any resistance, ask to speak to the agent's dealing with broking provider. Realtors do no longer desire to sell properties of folk who do no longer desire to sell. in actuality, it is incredibly impossible to accomplish that. further, the language you cite applies if the home is bought with the Realtor out of the loop. It additionally applies if a Realtor brings you somebody who's keen to purchase your place precisely on your words and you reject the supply, you're in charge for the cost. So, specific, technically you have some exposure there and the itemizing could be cancelled. however the actual reason of that language is to guard the Realtor in case you determine to sell the valuables to somebody else devoid of the Realtor being in touch. you assert "in basic terms asking the agent/broking provider kindly to cancel isn't an option." Why no longer? that's what you're able to do. And, mutually as i'm no longer a lawyer so that's no longer criminal advice, I strongly suspect that in case you provided that project to a lawyer, she or he might supply the comparable advice. Ask that the itemizing be cancelled. And, frankly, in the experience that your dating with the agent is so strained which you do no longer even experience you could consult with him/her approximately this occasion, then there is something extra effective incorrect right here. So consult with the agent's broking provider with regard to the cancellation.

Answer 5

Explain to your Realtor exactly what you have said here, The phrase I want an unconditional release out of the contract is what you need to say. Realtors do not like under any circumstance loosing a listing but tell him it has nothing to do with you your services. As for compensation the Realtor has invested marketing money of his own it is your choice to reimburse him or just cut him loose.

Answer 6

Most realtors will release you from your listing if you agree not to relist with any other realtors during the time you would have left on her listing agreement. Read your agreement though...sometimes they have a "marketing fee" in addition to the commission but it should be right in the agreement. They usually don't mind you changing your mind if they don't have an offers on it but they don't allow you to "change realtors" that easily. Keep in mind..."You get a lot more bees with honey."

Answer 7

Call the agent and tell them the house is no longer for sale and to take it off the market.

One word of advise though, don't even attempt to sell that house again until after May 2007. If you do, you will owe the original agent commission.

Answer 8

Depends upon why the contract fell though in most states she only has to bring you willing and able buyers....if that is the case you owe her what ever percentage was on the contract.
if not you dont owe her anything
your best bet is to just talk with her and explain this isnt the right time for you to sell.

Answer 9

I think cancellation depends on the state that you are in.
If you can not cancell
Take the sign out of the yard, raise the price $25000

Answer 10

call and talk to them. you should tell them you do not what to sell. thay work for you so take you home off the market.