I want to take my house off the market, does that end our contract with our realtor then?

Chicagoduplex
Home Seller
Chicago, IL

The contract states that it runs for 12 months, but within 6 months you can give 30 days notice to end it. Does taking the house off the market end the terms of the contract?

Answers (5)
Philip Sencer
Broker
Chicago, IL

It sounds like you can terminate the contract with 30 days notice after 6 months on the market, but you need to read the entire Agreement to verify. It is not wise to commit to a 12 month Listing Agreement, but many agents try to lock you in because the market is so low. Everything is negotiable and there are thousands of agents willing to negotiate the term if you find one who is not so willing.
Good Luck

Wed Jul 15 2009, 21:03
Wayne Beals
Agent
Chicago, IL

To end the listing contract, you need to specifically cancel the listing contract and get confirmation from the broker, not the agent.

Without having seen your listing contract, it's impossible to tell anything else.

Best of Luck

Fri Jun 19 2009, 13:43
Kipp Blackburn
Agent
Chicago, IL

The contract likely states that despite being off the market upon written request for cancellation, you cannot re-list with another broker. They may or may not hold you to it.

Fri Jun 19 2009, 11:53
Jeff Anderson
Agent
Buffalo, MN

No it does not end the contract. Taking it off the 'market' does not constitute an end to the contract. As you identified, within 6 months you can give 30 days notice to end it. Contact the listing broker to discuss. Typically in our agency if the Seller does not want to continue willingly, we will mutually cancel the contract. However be aware too that there is language within the listing contract that allows for compensation (if sold) to the listing broker for a defined period of time after the contract ends.

Fri Jun 19 2009, 11:49
Bo Grimes
Agent
Lookout Mountain, GA
FIRST ANSWER

Maybe...you need to look at the terms of the contract. It will vary from state to state i.e. in some states you have the right to "cancel" the contract but if you do you will be resposible for paying the commission because you will have breached the contract or in some other cases you will be prohibited from putting the house back on the market until the end of the contract plus the "Protection Period".

Fri Jun 19 2009, 11:42

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