Expert: Karyn Foley - 10/23/2006

Question
We put our house on the market 3 months ago with a real estate agent.  We have a 6 month contract that states we can cancel it via written notice.
I contact my agent to inform him we no longer want to sell, I like our agent and didn't want him to just get a letter in the mail.
He said he talked to his Broker who is hesitant on letting us out.  
Surely they can not MAKE us sell our house, can they?

Answer
I do not have a copy of your contract, but if it does state in writing that you can cancel via written notice (is there a time period?) then you can give written notice and ask for a meeting with his broker to present you contract for cancelation along with a copy of the written notice that you mailed via return receipt requested,delivered in person with a signed receipt by the person who received it.  I just would like for you to sit down with your agent especially since you like him, and ask why your home has not sold.  This is a market that has cooled off considerably, and you are in the season that is usually a slow season.  Perhaps you should consider lowering your price.  Ask for a list of comparable properties that have sold in the last 30-60 days,and see how your house compares.  Go in the marketplace and see the inside and outside of other homes in your neighborhood that are on the market now, and see how your asking price lines up.  You should try to be the best deal on the market, not trail the market and be with the rest of the bunch.  I am certain that your agent, and with the help of his broker, can show you how to be the hottest property out there.  Keep in mind, if you do have the cancelation clause in writing, and the broker refuses to let you out, call your local board of real estate and file a complain accordingly.  No one can make you sell your house.  You didn't say if you wished merely to change representation, or if you changed your mind about selling.  Please get back to me and let me know if you are getting out of your contract, and what you plan on doing. Good luck to you, Karyn Foley