Buying or Selling a Home/relator contract

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Expert: - 7/16/2007


Question
I have signed a listing contract with a relator and am not satisfied. This is for 180 days. If I terminate the contract within 180 days, what are the implications. I went through the listing contract and it does not make any reference to termination of contract.

Answer
Dear Venkatesh;
I am assuming that you are not satisfied with the level of service you are receiving from the brokerage or the agent has not been responsive and that is why you want to end your listing with them.  I don't know how long you have had the listing with them.  Have you discussed your dissatisfaction with the broker?  Have you given them enough time to perform?  Sometimes, there is miscommunication that needs to be cleared up so that you better understand what the brokerage is doing for you.  Since the listing agreement is a contract, breaking it is not an option unless both parties agree.  You can certainly take your home off of the market, but if you decide to list with someone else or sell the home yourself there will be problems.  I suggest that you discuss the issues your have with your agent and if you don't get any satisfaction then talk to the managing broker.  Again, if the problems are not resolved, ask for a release from contract and see if you can get the brokerage to agree (in writing) to your request.  Otherwise, I am afraid you will have to wait until the contract expires.

Best wishes,
Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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