Expert: Dick Dennis - 9/6/2006

Question
Can we just cancel the listing before the expiration date due to a "change of mind" without penalty?
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Followup To

Question -
We listed our house in So Cal on 7/2/06 for 3 months, we listed at a lower price than others in the area in hopes that it would sell right away, since it has not, we want to postpone the sale until next spring due to our kids already starting school here. Can we cancel the contract with the realtor because we changed our minds. We can probably wait it out, but are we obligated to sell the house if we get a full offer?

Answer -
No, Tammy, you are not obligated to sell your house to a full-priced offer. But you would be obligated to pay the commission. So, if it should happen, make sure that the offer matches your listing absolutely exactly. For example, if they offer $400,000 on a listing of that price, but they want you to leave the frig and the listing doesn't agree with that, then it is not an "as listed" offer.

If you really want to cancel the listing, very nicely approach your agent and tell him/her what you want to do. If they have been a hard-working agent so far and you like they way they have been doing their due diligence for you, then you say something like, " . . . and when we do list our house next spring, we will make sure you are the one (or you'll get first crack at it) we use."

If that doesn't work, then that is an agent you don't want to use again anyway. Just wait it out.

I do wish you well.

Dick Dennis          dixiedee13@aol.com
If you are satisfied how we helped you, please refer us to someone who needs help, too. Referrals are the heart of my business.

Answer
If you'll read the listing, Tammy, you will notice that you are obligated to pay the commission if you withdraw the listing at any time during the listing period. Change of mind doesn't count. That's why you definitely should read the listing BEFORE you sign it. Like I said before, talk to your agent. He/she might go along with what you want.

Dick Dennis