my realtor had me sign a pc of paper when our listing ended for extension,now we are 5 months into 6 months and for reasons not disclosed here,i want to have another rep,but not be bound to a commision to first realtor,in nj
2007-07-13 05:23:23 · 6 answers · asked by crazy b 3 in Business & Finance ➔ Renting & Real Estate
unless the current listing agent and their broker are willing to do an unconditional withdrawal, you will not only be stuck with the listing agent for the next month, read you agreement carefully for there will be a provision that after the listing agreement ends, if any of those clients which saw the place during the agreement buy the place within a x amount of time from the end of the agreement you will have to pay the ex listing agent a commission
just wait the one month then sign with the new one
2007-07-13 05:43:40 · answer #1 · answered by goz1111 7 · 0⤊ 0⤋
People don't realize how easily this is done.
Call your Realtor, be polite, and explain to him/her why you want to cancel the contract, and 99% of the time, they are happy to do so.
If they don't, then a phone call to the Broker-in-Charge of the firm will usually do the trick. Make sure you have something in writing releasing you.
Then you are free to list with another Realtor.
However...there is one catch: If you don't get a contract with another Realtor, and someone that has viewed the property while it is listed with the other agent buys it...sometimes as long as 6 months after the contract ends, you still owe on the commission.
This is written in most contract-release forms, and it's to protect the Realtor from getting scammed out of the commission. (Nope, not saying you are doing that...but some people do)
2007-07-13 07:17:07 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
You can only do so with the agreement of the listing real estate agency. If you have a good reason for termination, speak to the managing broker of the firm. It would be his/her decision as to whether or not let you out of your contract.
Also be aware that, if your eventual buyer was shown the property under the listing agreement of the first agency, you can be held liable for the commission to the first agency.
Most states have this rule in one form or another to prevent sellers (yes, they DO try this) from cancelling a listing contract so that they can deal directly with a buyer introduced to the property by the listing agency or by another agent.
Do not swallow the nonsense from the first two posters. Your listing contract is a legal binding one. They are not terminated easily.
2007-07-13 05:47:12 · answer #3 · answered by acermill 7 · 1⤊ 0⤋
You are bound by contract---read the thing--that is the knowledge of disclosure...
Hold on--they did nake you sign anything.... Did they have a gun to your head???
When your contract is up--suggest you sell the home yourself and save the 7% realator fee.
Buy the way you will be lucky to sell your home--no buyers...
2007-07-13 05:42:26 · answer #4 · answered by Gerald 6 · 0⤊ 1⤋
yes if you find they are not fulfilling their job
2007-07-13 05:40:31 · answer #5 · answered by CW L 3 · 0⤊ 0⤋
yes, you may fire for just cause!
2007-07-13 05:29:16 · answer #6 · answered by ticketoride04 5 · 1⤊ 0⤋