Aloha, Suzann,
The protection period refers to the clients your listing brokerage firm brought to your home during the listing period. If you decide to go FSBO, and any of those clients decides to buy your home after you cancel the listing agreement, you will owe the company a commission.

Regarding the cancellation, there is normally a minimum number of months specified in the listing agreement, but most brokers will honor your request to cancel it on a short notice, if there is no other option.

Remember that the work of real estate agents goes beyond the marketing of your home: They will schedule showings, hold open houses and expose your listing to other agents and brokers, help you negotiate potential offers, facilitate the communication with the escrow and title companies, arrange professional inspections, and offer an objective perspective on every situation, among other things.

Best wishes,

Vivian Franco, M.S.
Realtor (S)
Prudential Locations Maui

I would say to meet with the realtor either in person, email, etc. whatever makes you feel comfortable and go over your concerns. Perhaps they can be rectified.

Aloha,

Be very careful of the action you take as you do have a written contract with specific terms and condition. With an abudance of listings and a shortage of buyers, if you ask to cancel the contract the Broker may simply say YES.

If it is you determination to terminate the contract, it must be in writing and executed by you and the broker. No one in this blog, including me would be able to give legal advise unless their are a licensed attorney in the State.

Might want to consider a meeting with the AGENT and the BROKER to discuss your concerns. Review properties for sale in WAILUKU, the recent sale of homes that are comparable to yours and how long each sold property was on the market.

Is the property not selling because there has been few Sales - is the property priced correctly - is your agent working this listing?

Certainly you know this is not a seller's market and you may not have any more success as a FSBO and since your post in June, it is likely that rates going up will affect the market.

This reply is from someone who is not a Realtor.

My response:
Yes, you can break the agreement. The protection is only for clients shown the property during the contract period so get that list of names. There is also a cancellation period, so make sure you give notice ASAP. After the termination date of the contract, yes you can do FSBO and no you cannot sell to clients brought in during the contract period for 120 days. Good luck with the FSBO, but honestly consider going with another brokerage.

Suszann
I would suggest that you have a meeting with your Realtor. Ask them to bring you the following information:
Since your property hit the market, how many homes, like yours, have:
Entered the market
Lowered their price
Entered escrow
Sold
Expired.

The fact is that homes are selling...just not yours. I recommend that you explain to your Realtor that you need to sell and give them two weeks to sell your property. Your job is to listen to what they say it will take to get your property sold, then do it. IF they recommend a price reduction, and you don't want to do it , then YOU are the buyer of your home, you'll have successfully out bid every other buyer.

OTOH, if they do not have a plan to sell your home in two weeks, then I would suggest telling them that you need to sell, and if they are unable to do the job, you'll need to find someone who can sell it.

My further suggestion is that you should interview three REaltors, have them analyze your situation. You can do this while you are under contract. However, after you cancel the contract with your current Realtor if they cannot sell, know that, in most cases, a property will sell with the right marketing and pricing.

By talking to the other Realtors you will get a sense of what they Realtor community feels should be done to get your home sold. If it turns out you are unable to sell on your own, then you'll have a few competent agents whom you can call to finish the job.

Just tell the Realtor what you're thinking, put it in writing also, most Realtors wont give you the list of names with in the 10 days for the protection period. Yet just adhere to your current written contract. Be aware that the FSBO magazine has contracts also, read the fine print many of our clients who couldn't sell with FSBO magazine had turned to Realtors and in the end they found there was a 1% @ listing price lien against the property from the Maui FSBO magazine. As always; read the contract and be fully aware for your situation and your property. Either way you go you will find the right path. There are plenty of great Realtors on Maui and a FSBO marketing program is always a choice. Best of luck to you, pricing is everything in this market.

Every situation is different but from your comments it is obvious that you either did not hire a full service company, negotiated less than full service for a lesser commission, used a flat fee service, or the agent is breaking your agreement by not using "reasonable efforts" to locate a buyer and not "advertising" two things that are mentioned in the contract.

Most brokerages do not want to hold onto a listing w/ an unhappy seller regardless of what your listing contract states. But if you have not addressed your concerns with your agent first and then the brokerage then you have not given them an opportunity to resolve those issues.

As others already stated, if you choose to go FSBO as opposed to using a full service brokerage you will simply have to pay a commission to any buyers that are on the protection period list from your former agent.If your former real estate salesperson does not provide you that list within 10 days of your ending the agreement then noone is covered under the protection period and you are free to go.

If you decide to re-list w/ another company be sure to interview 2-3 agents and ask them what they will do to advertise and sell your home. Look at their experience and track record and then hold them to their word. Ask them to provide you with a monthly report as to what they did that month to sell your home.

There are a lot of great agents in the Kihei area, I know because Im one of them. In this market having exposure on the mls and having a Realtor represent your house in the best light to the other agents on Maui is the best way to get your home sold in this market.

Hi Suzann,

The listing agreement is with the brokerage, and not the agent. If you have contacted the agent and have expressed your concerns , and feel they have not been adequately addressed, contact the agency's managing broker. Be polite and businesslike in stating your case to the broker. He/she might offer to assign another agent to your listing. This might work, but I would make it plain that you would have to interview and approve any replacement. The other option is to cancel the listing and ask for a list of designated protected buyers that would be covered during the protection period. If you do go FSBO, the blog attached to the first link may be of some interest to you. The blog attached to the second link is on selecting an agent. Good luck on whichever direction you choose.

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_…

http://www.trulia.com/blog/rockinblu/2008/12/i_ve_got_my_fin…

Hi Suzann,

Have you asked the Realtor to cancel it? That's the best approach, be straightforward. No one can advise you whether to break a contract except for an attorney. I would read the agreement carefully to see what your rights are. You can also talk to the company owner or broker. They are almost invariably well-versed in working things out. The best thing to do is try to market the property with your agent, working together. Sit down for coffee and have a talk. If that doesn't work, you may need a different approach.

Aloha,
Frank