Expert: Jessica Bryan - 6/7/2006

Question
WE SIGNED A 6 MONTH CONTRACT WITH A REALTOR.  OUR HOUSE STARTED AT $439K IN APRIL.  WE ARE NOW DOWN TO $389K AND HAVE NOT HAD A SINGLE PERSON TO LOOK AT THIS HOUSE.  I FEEL WHERE THE REALTOR HAS US ON THE HOOK FOR ANOTHER 3 1/2 MONTHS HE IS NOT PUSHING OUR PROPERTY......CAN I TELL HIM I WANT TO TERMINATE OUR CONTRACT AND TRY ANOTHER REALTOR?  OUR HOUSE IS PRICED  WITHIN OTHERS IN OUR AREA

Answer
Dear Leanne;
This must be very frustrating for you! Did your Realtor give you any idea as to why there have been no showings?  Have other homes been sold within this time period and if so for what price?  Your agent should be able to provide you with some information regarding lack of showings, the overall market, and why the home was listed so much higher and then dropped.  It seems strange to me that the agent would have misjudged the market so badly as to list $50,000 higher than it should be. Perhaps there are extenuating circumstances of which I am unaware. (?)  You should talk this over with the Managing Broker of the company before breaking the contract.  However, if you do not receive any good answers and reasonable assurance that the brokerage will do their best to market this home, then, cancelling the contract may be your only recourse.  I am always hesitant to advise doing this because of the expense an agent goes to in marketing a home.  This is not recovered when you cancel a contract.  Giving someone a chance to do better is fair and equitable but sometimes, even the most fair-minded client is at wits end and needs to make some changes.  Remember, that the agreement you signed is with the Brokerage--the real estate agent acting as the representative of the brokerage, so it will require the Brokerage's permission to release you from contract.
Good luck and best wishes.
Sincerely,
Jessica Bryan
Managing Broker
House to Home Realty Services