AboutDick Dennis Expertise With more than 37 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter.
Experience Problem solving since 1980
Organizations National Association of Realtors
Publications Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers
We are currently listed with a real estate agent and are very dissatisfied with his performance.
We would like to leave him and the company he works for after we terminate our contract but we are unsure if we can? Do we have to stay with this company after we terminate the contract or are we allowed to go with a different company? We would like to go with a different company right after we terminate our contract via the 150 day mark but can we? The word for word of our contract is listed below.
thank you,
Mark
"Time period of listing- The time period of this listing has been determined as the result of negotiations between the broker and owner. This exclusive right to sell agreement shall be effective for a period of one (1) year commencing on 5/05/06 and shall automatically terminate at the expiration of the one (1) year listing period. The agreement may also be terminated at any time after 150 days have elapsed from the commencement date of this agreement by the Owner or Broker giving (10) days notice in writing by Certified mail with return receipt. This listing shall not be terminated unless the above requirements have been exercised. After the termination of this agreement or any extension thereof, the Broker authority shall continue as to any outstanding offers pending at the time of such termination. Unless the owner subsequently enters into a Standard exclusive listing contract with another Subscriber of ____________ in accordance with the termination clause above, if within six (6) months of such termination, the Owner enters into an Agreement of sale or transfer or exchanges the property with any person to whom the property was shown, presented or submitted by the Broker, the Owner or any subsequent Broker of the _____________ during the term of this agreement, the sale shall be conclusively presumed to have been made by the Broker and the commission shall be paid by the Owner.
Answer Thirty seven years in this business, Mark, and I have never seen such a slimy, sneaky time period clause. Obviously, it was NOT a result of negotiations. Here in California it very simply says the listing is good for 60 days, 90 days, 180 days, whatever. All the rest of the jargon is valid. Only, the broker must send you a list of the potential buyers who were shown the property (the six-month portion). If they don't then that part of the clause is not valid.
When the 150 days has come and passed, you simply send a notice of cancellation via certified mail.
