Expert: Jessica Bryan - 9/27/2007

Question
Hello! I appreciate any assistance...  My house has been listed for the past 4 months under a 6 month exclusive right to sell agreement.  Recently, we incurred some weather related damage to the house, and after consulting with our homeowner's insurance agency, we are looking at very costly and time consuming repairs.  We would like to remove our house from the market since we can't afford to absorb both these repairs and seller's closing costs without taking a significant loss, (not to mention that a buyer is only going to ask for a reduction if they see the work in progress).  I talked to my agent about this, and she seemed to only "hear" that we didn't want showings for the next few days.  SHe kept cutting me off when I mentioned delisting.  In reality, I want to delist the house entirely until after repairs are done.  I had planned to delist anyway after the 6 months was up, enjoy the holidays with my kids, and wait until next spring & see what the market was doing.  What is my next step?  I'm under no financial pressure to sell (we do not have another house purchased or under contingency to buy).  I assume I at least need to escalate to the broker, but how do I cancel the listing agreement entirely?  The contract states that I must reasonably accommodate their efforts to sell or I'm in violation of the agreement (meaning I can't simply take the sign down or refuse to answer their calls to schedule showings).  Help!

Answer
Dear Anneliese;
You should write a letter and send it registered mail to the Managing Broker of the real estate office saying that you would like to withdraw the listing in light of the circumstances you mentioned above.  No one can force you to sell the home and you shouldn't feel beholding to continue with the listing.  If the brokerage is unresponsive tell the agent you will need to increase the listing price of the home to accommodate the repair costs (you certainly have the right to do that.) Then let the listing run out and take it off the market.  If, during the next two months (in the event they don't let you withdraw the listing) you get an offer, you do not have to accept the offer unless it is full price.  If it is full price then you have no problem anyway.

Good luck and best wishes.

Jessica Bryan