To answer your question simply, Yes....of course you can back out of a contract if you have decided not to sell. I can't imagine any listing contract that would force you to sell your home, but as others have mentioned, you need to read your listing agreement, especially the small print!
I have had sellers decide not to sell...maybe they saw that they weren't getting the price they hoped for......maybe their personal situation changed. Whatever it is...they had the right to withdraw from the market. You don't need to play any games like dan suggested - just be upfront.
What you can't do, however, is list with another company or sell the home to anyone during the remainder of the listing period. If you did sell, the brokerage would be entitled to the full commission. But, if you truly don't want to sell, then this won't be an issue.
Certainly no one will force you to sell your home if you've changed your mind..............I had a seller withdraw after only 3 weeks, and after I had already spent several hundred dollars (out of pocket) for intial markeitng items..but.....it happens......no big deal................on to the next listing!!
By the way, my company would never charge a "withdrawl fee"....hope yours deosn't, either!
Prudential NJ Properties
Read your listing agreement with your real estate company!
It should give you the answer, if you decide not to sell anymore.... But be careful if afterwards you change your
mind and what you do thereafter. So either discuss your contract with your listing agent in earnest, or have
a real estate attorney explain it to you.....
Everything should be clearly stated in that listing agreement.
Good Luck to you.
Edith Karoline YourRealtor4Life! & Chicago & Northern Illinois Expert
Working always in the very BEST interest of her clients....
Century 21 SGR