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Jck0786, Real Estate Pro in Chicago, IL

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Asked by Jck0786, Chicago, IL Sat Apr 6, 2013

Just want to know if I can have my realtor cancel the listing of my property in the market even if I already signed an agreement

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Christina Solorzano’s answer
You should discuss your options with your agent as you have already signed an agreement and may be liable for compensating the agent.

Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit
Ex-Mortgage Broker of more than 10 years
http://www.everlastingcredit.com
0 votes Thank Flag Link Mon May 13, 2013
I am not sure I fully understand your situation. You have I assume signed a listing agreement with a Realtor and now you want the Realtor to cancel the listing, and the listing agreement. If that is the case
then you need to carefully read your listing agreement, as it will state clearly what you can and cannot do, and whether there are any costs involved that you owe the brokerage or not, first ask your listing agent, then either discuss with the managing broker of that brokerage.....

If you have signed a sales contract for the property and you changed your mind and do not want to
sell your home anymore the steps will be different, and you should definitely consult with a real estate attorney.

Hope this helps, if you want to get back to us and give us a bit more details about your situation we may be having better recommendations ...
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties ---- EdithSellsHomes@gmail.com
Check out my website at htttp://tinyurl.com/YourRealtor4Life
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Sat Apr 6, 2013
Read your agreement. Since your property is under contract are you looking to walk away from the deal (for whatever reason)? If that s the case then speak to your attorney.

If you no longer want to work with your Realtor then a conversation is necessary. If your broker "brokered" the transaction you will still be required to pay the commission.

Good luck!
0 votes Thank Flag Link Sat Apr 6, 2013
Dear Jck0786,

There is a difference between canceling a listing period and cancelling the "listing of your property in the market."

Are you just looking to have your Realtor cancel public and/or published marketing? Or do you no longer want to sell the home at all?

As stated below multiple times, you'll have to speak with your Realtor (or their managing broker) about how you'd like to proceed.

Good luck to you.

--
Sincerely,

Christopher Thomas
Broker Associate, Keller Williams Realty Chicago Consulting Group
716 E. 47th St. Chicago, IL 60653
(773) 770-5947 (cell) (312) 577-0985 (fax)
cthomas@kw.com
http://www.myagentchris.kwrealty.com
0 votes Thank Flag Link Sat Apr 6, 2013
I just signed for the listing period but it has not yet been on the market
Because for reasons that I still have to do some repairs in my house. So it has been postponed however I signed a paper but I just realized I was not given a copy of that.
The reason I want to rent it out for now because I am buying a new house and i am not being approved of the loan
Flag Sat Apr 6, 2013
Ask your agent. If you are under contract then the agent has to indicate that in the MLS.
0 votes Thank Flag Link Sat Apr 6, 2013
Pretty simple, what does the listing agreement say about cancellation? It is a contract, ou are bound by the terms.
0 votes Thank Flag Link Sat Apr 6, 2013
In most cases you would still have to pay the broker if you sell the house after you cancel the listing. Make sure you read your agreement.
0 votes Thank Flag Link Sat Apr 6, 2013
You will have to check the clause. Most agents charge a fee to do so.
0 votes Thank Flag Link Sat Apr 6, 2013
Talk to your Realtor.

Why are you canceling?
Don't want to sell anymore?
Found a buyer on your own?
Found another Realtor?

It depends on your reasons but the Listing Agreement YOU signed should spell this out.
0 votes Thank Flag Link Sat Apr 6, 2013
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