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About Levi Brooks
Expertise
I am a licensed Real Estate Salesperson in the state of Georgia.

I can give detailed answers to questions regarding real estate transactions in Georgia. I can answer general questions regarding the home buying or home selling process in other states.

I am not a licensed attorney, so I cannot and will not answer any questions that require legal advice or an attorney-client relationship.

Experience
I am a licensed Real Estate Salesperson in the State of Georgia.
I am a member of the Georgia Association of REALTORS(R) and the National Association of REALTORS(R).

Organizations
NAR, GAR, and local boards.

 
   

You are here:  Experts > Shopping > Home Buying/Selling > Buying or Selling a Home > Canceling a listing agreement

Buying or Selling a Home - Canceling a listing agreement


Expert: Levi Brooks - 4/16/2008

Question
I have had my house on the market for a month, and had 2 open houses. Both times, I wanted the open houses to be from 1-5pm, and was told they would be, and then the ads were run from 2-4. So I have no had anyone come look at my house since it has been on the market. My realtors don't call me to check in, I call them. I am not happy with their lack of attention in this matter. To top it off, a friend of mine brought over their neighbors to see the house because they are looking. Turns out they are interested in purchasing. I dont think I should have to pay the commission if they buy my house because the realtor didnt sell it. Is there any way for me to fire them but still sell to this family without the realtor coming after me to collect the commission?

Answer
To be honest, open houses rarely sell homes.  I don't know a single Agent who has found a buyer for the specific property during an open house.  So don't let that upset you.

Regarding your listing agreement.  Contract law varies from state to state, and listing agreements vary from agreement to agreement.  However, I can give you some generalizations.  Generally, listing agreements can be terminated by the seller.  There may be wording that requires you to pay a fee to terminate, but usually not.  Often the listing agreement will still give commission to the Realtor if you sell a house to someone they were working with for a period after the agreement is ended.  So, if the agent showed someone the house, or maybe even told them about it, you would owe them a commission if you sold it to that party.  However, your agreement may provide more protection for your agent.  You may need to have an attorney review your listing agreement to tell you how to terminate it and if you would owe commission.

One suggestion, consider hiring a Realtor to work as a Transaction Broker.  In my area, they normally charge around $1000, and they fill out the Purchase and Sale Agreement and walk the seller and buyer through to the closing.  They won't represent you or the buyer, and their job is purely administrative, they can't advise either of you about pricing, etc.  Additionally, a Transaction Broker probably has experience with ending listing agreements and could help you get out of yours.

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