Expert: Karyn Foley - 6/27/2007

Question
I would like to know if I take my house off of the market, does that release me from this contract? Thank you for your time.

Answer
Thank you for your question.  As I do not have the copy of your contract, it is difficult to give an exact answer.  However, if you did sign up for a particular amount of time, then you are probably obligated to live up to the contract.  That does not mean that you are going to be forced to sell your home, nor that you have to let people in.  It does indicated that should you sell, rent, or otherwise transfer the property you are owing your agent and the respective company a commission.  My suggestion would be to tell your agent that you no longer wish to sell and wish to refrain from showing.  Also, get back your key and let the agent know that you are not planning on relisting with anyone else during the length of your signed contract.  Your agent cannot insist that you go through the motions when you are not going to complete or enter into any transaction.  Since you are merely taking your house off the market, then there should be no problem.  But if you are just hoping to get a cancelation and then relist with another agent you may have a problem.  Please make certain that you truly do not wish to sell at this point in time.  Sometimes agents will give a condition cancelation stating that should you decide to sell during the original contract period then you would owe a commission.  Some agents might agree to an unconditional cancelationg allowing you to do what you please with whomever you choose.  There should also be a form you can sign that releases you from showing the home.  Let me know what you have elected to do, and what forms, if any, you will be signing.  Remember, no one can force you to sell as long as you have not entered into a sales agreement.  Please let me answer any more questions that you have.  Agents usually spend a lot of money marketing homes and lots of hours working each listing.  Your agent may be angry that it was for naught, or grateful that you are being honest so that she doesn't have to send any more dollars or effort.  Karyn Foley