Buying or Selling a Home/Breaking a listing contract with a contingency
Expert: liznarr - 11/13/2006
QuestionWe have a listing contract w/ our Agent through December. He is awful! Has not advertised but 1 time in 12 weeks. And that was only in the local paper and not in the Real Estate section. Our house has been shown 2 times and he has failed to receive feedback from either agent. He does not return my calls and I have caught him in 3 lies. I would like to drop him as our agent ( I know that i can break the contract). My question is however that we have a contingency offer on another house through him. If we break our listing contract what happens to our offer? I really appreciate your time and knowledge. Thank you, Amy
AnswerHi Amy,
If you have an executed contingency CONTRACT (as opposed to an offer in progress) on another house through the same agent, nothing should happen to a CONTRACT already ratified/totally executed by all parties.
If you have an offer in progress, you could rescind the offer and work through another agent. Keep in mind, however, that the original agent could come in and claim all or part of the sales commission on the principal of procuring cause (which would be a legitimate claim from what you have written, since he apparently “introduced” you to the property).
To avoid this problem, see if you can get a full release from Agent Awful’s Broker-in-Charge (BIC) or either negotiate a commission split up front between Agent Awful and your new agent (and make sure any agreement is in writing and signed by the Broker-in-Charge of all companies involved). This way, you could rid yourself of your Agent Awful and move on.
If Awful balks at both of the above, I would report him to your State Real Estate Commission for some of the complaints you listed.
I hope the above is helpful and points you in the right direction. Good luck to you, and write again if you have additional questions.
Regards,
Elizabeth