Home Selling in 11706>Question Details

Lorraine, Other/Just Looking in 11706

Would like to remove house from market. Have a contract with a realtor. Are there any fees ?

Asked by Lorraine, 11706 Sun Oct 7, 2007

House was up for sale as part of divorce. Have decided to fight for house in court in order to keep kids where they are. Are there any fees to the realtor to remove the house from the market? There have been no offers so far.

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Hi Lorraine, I agree with keith. I would only add that if you did in fact sell or need to sell under the court's ruling, you could likely find another home in the area.

Best of Luck
2 votes Thank Flag Link Fri Oct 12, 2007
In addition... In response to Mary Groom's answer to you..
re: "so you will not be able to relist with another company without the hazard of paying 2 commissions should it sell."
Not necessarily true. Most agreements will state something like:
If the house is sold with a licensed broker to whom you are obligated to pay under terms of a subsequent agreement, then you (seller) will only owe the first realtor partial fee, i.e. the difference between their fee and the lesser amount actually paid by seller to such subsequent licensed broker.
Of course, it all depends on the realestate laws in your state.
0 votes Thank Flag Link Thu Sep 29, 2011
No. If the contract was withdrawn and no one had yet put in an offer on your house, no, you do not owe the fee. Not unless it is mentioned in your 'terms of agreement' when the house was put on the market.
However, but you might have to pay them a fee, if you sell your home with someone else later and it is within a time period mentioned in your 'terms of agreement' after the 'term' is up.
Example: A term of agreement was setup for March to June 2011. Within the agreement it is stated: "Seller agrees to pay realtor's fee If the property is sold within 180 days after the Term of this Agreement to anyone who was introduced to the property prior to the expiration of said Term. So for 180 days AFTER June 2011, you are still liable to pay the fee in these circumstances.
0 votes Thank Flag Link Thu Sep 29, 2011
Lorraine, please update us on what happened, and how you have been managing on your own, if you did get the house. Hope all is well in your world.
0 votes Thank Flag Link Thu Nov 25, 2010
This can vary by broker. Some brokers will want to charge you for advertising they spent money on, but in this day and age, there is not much print advertising so not much money spent. If it was me, based on your situation, I would just withdraw the home from the market with no fees. In real estate a good agent will think about future business and would you really be happy if they charged you some sort of fee just because you wanted to withdraw your house from the market.

Unfortunately, some homeowners want to withdraw their home because they believe they found a buyer on their own. Sometimes they found this buyer because of a Realtor's sign on their front lawn or saw it on the Realtor's web site. Would it be fair to the Realtor to withdraw because of this? I think not. I think your situation is different. I think Gail kind of summed it up.

Don Mituzas
Licensed Associate Broker NY & CT
Prudential Serls Prime Properties
Web Reference: http://www.nyhomeseller.com
0 votes Thank Flag Link Thu Nov 25, 2010
Quite some time ago, you posted an inquiry on Trulia seeking real estate advice. If you are still considering purchasing or selling real estate or have any additional questions, please feel free to contact me. Please accept my best wishes for a very Happy Thanksgiving.

Ralph Windschuh
Associate Broker
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
0 votes Thank Flag Link Thu Nov 25, 2010
Be sure to go over your contract very carefully to determine if you have agreed to pay a fee for early termination of the contract. If not, request that your listing be withdrawn from the market. It should be understood that even though your home will be off the market, that will not necessarily sever your relationship with the listing company, so you will not be able to relist with another company without the hazard of paying 2 commissions should it sell.
0 votes Thank Flag Link Sat Sep 5, 2009
Brian from Center Moriches was Right On! Read your contract!

I have seen some Realtor's contracts that contain an early termination fee of $500 in order to compensate them for advertising fees they've encountered on behalf of the seller's property.

I hope you have no such clause in your contract and wish you the best.
Web Reference: http://www.GlenHagen.com
0 votes Thank Flag Link Wed Nov 19, 2008
If you are not planning to sell the house any longer, there is no reason the Realtor would not agree to withdraw it from the market. No one can make you sell your home. It will probably be liable for a commission until the expiration date of the contract, but if you are not going to sell it, it should not matter.
0 votes Thank Flag Link Tue Oct 23, 2007
Lorriane.....

Look carefully over your contract to check on fee's etc. Also, talk with your Realtor about your current situation and the changes that have come up during the process. Most Realtor's want to keep good will and would consider letting you out of the contract due to your situation. Bottom line is a good realtor does not want to sell you home if you do not want to sell it. Good luck
0 votes Thank Flag Link Fri Oct 12, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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Your contract will determine if there are fees or not. No Realtor can force you to keep your property actively on the market, but you could find yourself responsible for commisisons if you sell it on your own. That clause is common in lisitng contracts. Refer to your contract and your attorney
0 votes Thank Flag Link Fri Oct 12, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
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MOST TIMES THE BROKER/AGENT WILL BE ABLE AND WILLING TO REMOVE YOU AS AN ACTIVE LISTING.THIS WILL BE AT NO COST TO YOU AND YOUR PROPERTY WILL BE OFF THE MLS. THE BROKERAGE WILL STILL HAVE A PERIOD OF TIME IN WHICH YOU ARE OBLIGATED TO PAY THE AGREED FEE SHOULD YOU SELL AND CLOSE.MY OPINION WILL NOT HOLD WATER SHOULD YOUR LISTING AGREEMENT HAVE DIFFERENT LANGUAGE IN IT.
0 votes Thank Flag Link Fri Oct 12, 2007
Just write a termination of contract and this should suffice. Fees would be listed in your agreement.
0 votes Thank Flag Link Mon Oct 8, 2007
Lorraine
You've received the advice I would expect for someone in your situation. One thing to consider is what might happen if you are unable to keep the house?
I don't know your market, nor the details of your case, however you may want to consider keeping the home on the market while you are going through the judicial process. One advantage to having the home listed is that you will know the approximate fair market value.

If you were thinking of buying your husband's share of the home, you'd probably want to re-finance or use a home equity line of credit. Some lender's will not lend if your home is listed for sale, so I encourage you to look at all of the options. It is unfortunate, but it may turn out that selling the property is the only way to split the assets (unless of course you can negotiate that your husband will defer his share of the house until some future time...).

Best of luck to you and your family.
0 votes Thank Flag Link Mon Oct 8, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
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read your contract carefully! You have to live with in the 4 corners of that paper!! Talk to your agent if he is a good agent he will understand if they give you a hard time, then use some one else next time! good luck!
0 votes Thank Flag Link Mon Oct 8, 2007
Hi Lorraine. You have already received a good answer regarding taking the house off the market. You may want to make sure that doing so does not get you into trouble. Was the sale of the house court ordered? Did your husband or ex-husband sign the listing agreement as well? Just a few things to consider. Are you planning on trying to buy your husband out? If you do, you may want to consider future tax implications. I don't know how much the house has appreciated since you bought it, but if it's more than $250,000, you may end up having to pay capital gains taxes when you sell it down the road. I am assuming you have already discussed this with your attorney, but I thought I just mention it in case you have not had a chance to run this by your attorney. This is not intended as legal advice, just a few things to consider. Best of luck to you. and the kids.
Web Reference: http://www.go2kw.com
0 votes Thank Flag Link Sun Oct 7, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
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Hi Lorraine:

It all depends on the agreement you have with your realtor and what is on your listing agreement with the agent; which usually follows the common practice in your area.

In California, the seller can cancel the contract with an agent; and withdraw a property from the market pretty easily. Although this is not my practice; but I suspect some of the agents might ask for the sellers to cover part of their expenses in marketing your property.

The other thing is that in California, as long as one side sign the listing agreement, the agent can keep the house on the market to sell; the only thing is that they can't close escrow because both sides needs to agree to transfer the title over.

Sylvia
0 votes Thank Flag Link Sun Oct 7, 2007
Sylvia Barry,…, Real Estate Pro in Marin County, CA
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One other thing you might take into consideration is whether or not your agent has incurred expenses to advertise your home specifically. As a professional, we typically dont like to talk about it, but imagine that you spent all that time listing a property and then spent $200-$300 or even more to advertise it and your customer changes their mind about selling......what a Godsend you would be to offer to reimburse for any advertsing expenses whether your agent accepts it or not! Good luck to you! Angela
0 votes Thank Flag Link Sun Oct 7, 2007
It depends on your listing agreement. You should speak with your agent regarding your situation. I work with many divorcing clients (due to referrals from a divorce attorney) and always tell them that if there is a chance either party will be able to keep the house, I will let them out of the listing agreement. The agent's company will have the final say, though.
It really doesn't make a difference that there have been no offers, it's more a matter of how much money/time has been spent to market your home. The agency may want to recoup those fees at the very least.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Sun Oct 7, 2007
You are in Suffolk county and so am I. Refer to the contract you signed when you listed your house for this answer. There may or may not be a fee. For my company there is no fee, but other some companies do charge. If there is, it probably won't be much. You will have to notify your agent, in writing, that you would like to withdraw your listing. The agent has a "change of data/status" form that they will fill out stating that you are withdrawing your listing, with the date, you sign it, they take your house off MLS. You can also ask your agent how to withdraw the listing, but probably couldn't wait till tomorrow to ask! :)
0 votes Thank Flag Link Sun Oct 7, 2007
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