Hello,
Thank you for the advice. I will check the listing agreement....My agent is the Broker/Owner. She has one agent working for her....I am not happy with the service being provided (by either of them). We had almost a full price offer and were awaiting the appraisal. Needless to say the property did not appraise at the offer price. The buyer's were putting 40% down and pre-qualified for lending. We lost the buyer as they have a signed offer on a different property. We were willing to sell at the appraised value ($25,00 less then the original price)....What to do?

Frustrated,
If you listing agent used the Tennessee Association of Realtors Exclusive Right to Sell Agreement (Designated Agency) Form F87 then refer to lines 67 through 69. This reads, "In the event that the Seller Terminated this Agreement befroe its natural expiration, the Seller agrees to pay all costs incurred to market the Property as a cancellation fee should the Broker consent to release the listing prior to the expiration date." The Key is "Broker consent." In many instances the Broker may assign another listing agent, thus keeping your listing, but getting you another listing agent.

Read your listing agreement and contact the managing broker. I am sure s/he will work with you for a win/win solution.

No one can render an opinion unless terms and conditions of listing agreement is reviewed.

Listing agent broker determines if contract can be terminated. In most instances standard practice speak with listing agent who will forward an amendment cancel agreement, listing broker usually does not have issues with release of contract.

You may have to pay a penalty based on agreement terms.

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