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Buying or Selling a Home/asking out of an exclusive listing contract
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Question
If after 6 months of a 12month exclusive contract the agent and its mls listing service have not shown or even received an inquiry on our property, can we lease to own the property at this time? does this break or violate the contract with agent?
Dear William;
Since I don't have a copy of the contract to review and cannot give legal advice, you should first try to discuss what you would like to do with your agent and the brokerage. Then, if you are not satisfied with the answer you should seek legal advice from an attorney. Certainly you are within your rights to cancel a contract if you decide not to sell the home but changing the terms of the listing agreement to go with a lease to own still implies that you are having agent representation and should provide compensation to your agent. A lease to own scenario is still like a sale of the property and the agent supposedly has found a prospect who is willing to purchase the property at a later date.
Best wishes,
Jessica Bryan
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- Karyn Foley
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- Connie Wildasinn-Broker,GRI,RealtorŪ
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- Lisa Webber
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- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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