Home Selling in 10543>Question Details

Joybreen, Home Buyer in

How long after listing agreement expires can you sell your own property?

Asked by Joybreen, Wed Apr 4, 2012

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10
You need to review the listing agreement you signed. Also, if you are selling the property to someone who looked at it while it was listed who now wanted to buy directly from you proceed with extreme caution as you most likely will be held liable for the commission.
0 votes Thank Flag Link Thu Apr 5, 2012
You can sell it anytime but reread your listing agreement for commission clauses. Good luck.
0 votes Thank Flag Link Thu Apr 5, 2012
HI Joybreen:

You have to look at your sales agreement. It should be filled in by the broker for whatever amount of time you agreed on Therefore, review your sales agreement to see what was fllled in on that line.

If you should have any questions, please give me a call.

Thanking you in advance for your attention to this matter.

Annemarie Encarnacao, SFR REO
NYS LICENSED ASSOC. BROKER
Century 21 Schneider Realty
924-77403764

http http://:www.annemariecentury21.listingbook.com

http://www.annemariecentury21 .listingbook.com
0 votes Thank Flag Link Wed Apr 4, 2012
You can sell on your own whenever you like, but review the original listing agreement for any related clauses; however if you were listed on the market for some time, received no offers, and the marketing maximized your exposure, do consider reviewing your pricing strategy....
0 votes Thank Flag Link Wed Apr 4, 2012
You can sell your property any time after the expiration, but if you are asking how long do you have to wait and not pay your agent a commission the answer is, if your agent is an member of Westchesters Mulitple Listing service and used the standard listing agreement form, paragraph 4 "Owners Obligations after the Expiration of Agreement" will tell you how long you have to wait to sell without paying your previous agent.
You can also relist your property with another New York State agent, and then you do not have the same obligation to your prior agent.
It is all on your origional contract which you signed when you listed your property. You should have gotten a copy of it.

Mindy Gerstein
Prudential Centennial Realty
0 votes Thank Flag Link Wed Apr 4, 2012
As others have mentioned, you can sell your property yourself the very moment after your existing listing agreement expires, or is cancelled.

But be very careful, because most listing agreements include a "protection period" (sometimes 3 months, sometimes 6, 9 or even 12 months) that states that if your buyer is someone who viewed the property while it was listed with your former agency, or has come to the property through the efforts of your former agency (ie: marketing, advertising, signage), then you might owe commission.
0 votes Thank Flag Link Wed Apr 4, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Hi, you can sell it right after. There is a clause in the Westchester County Exclusive Right To Sell contracts that states if a buyer that saw the home while it was listed with an agent wants to buy the home the agent could be owed a commission. There is a mutually agreed upon time frame, we usually do 3 months after it expires. If you hire another agent that clause is no longer valid.

Chris
0 votes Thank Flag Link Wed Apr 4, 2012
Hi, you can sell it right after. There is a clause in the Westchester County Exclusive Right To Sell contracts that states if a buyer that saw the home while it was listed with an agent wants to buy the home the agent could be owed a commission. There is a mutually agreed upon time frame, we usually do 3 months after it expires. If you hire another agent that clause is no longer valid.

Chris
0 votes Thank Flag Link Wed Apr 4, 2012
You can sell your own property the very next day.

However, if you have not been able to sell while listed, I would ask myself two questions; 1) how was the property marketed and 2) was I asking too much money.

According to national statistics, homeowners who sell on their own average a 20.765% reduction in sales price.
0 votes Thank Flag Link Wed Apr 4, 2012
You can sell your property right away after an expiration or contact anther Broker to assist you in the sale.
0 votes Thank Flag Link Wed Apr 4, 2012
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