Home Selling in Tinton Falls>Question Details

Brandon, Home Seller in Tinton Falls, NJ

how do i cancel a listing contract?

Asked by Brandon, Tinton Falls, NJ Sun Oct 17, 2010

It's a six month contract scheduled to expire December 2010

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Answers

5
Before you cancel your contract, see if you can discuss the issues with your listing agent. Perhaps there is a way to "fix the problem" before starting your listing contract over with another agency.

If you still want to cancel your contract, ask your listing agent or the office broker of record to cancel your agreement. Keep in mind, unless you are unconditionally released, you may still be responsible for a sales commission to your listing broker. This is to avoid sellers gaining marketing exposure for their home, but then canceling the contract once a buyer is in the picture.

All the best!
2 votes Thank Flag Link Sun Oct 17, 2010
Since the broker owner and or office manager of the realty company are the ones to terminate contracts--not necessarily the agent--contact either or both, express your concerns and ask to be unconditionally released.
1 vote Thank Flag Link Sun Oct 17, 2010
Hello Brandon,

There should be instructions stated in the contract as to how to cancel. Most of the time you can just call the Realtor and/or Brokerage to ask, and that gets it done once the cancellation is signed. Be cautious of cancellation and/or retainer fees that may be charged to you... they do appear in some contracts and are due at cancellation of the agreement by the seller.
1 vote Thank Flag Link Sun Oct 17, 2010
If the listing broker agrees, be sure that the release is "unconditional". That way should you choose to list again you can do it without running the risk of owing two brokers commission, that would be an "ugh!"

If they refuse to cancel, the good news is that December will soon be here.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Oct 18, 2010
Call up your listing agent and tell them you want to cancel the listing agreement. They will come over with some documents for you to sign in regards to canceling. Read the cancellation contract and your original listing contract carefully. Especially if you are planning to list with another agent. Many times there can be wording that may entitle the agent a commission if you re-list with someone else and a buyer comes along that was shown your home by that agent. That agent should provide you with a list of people who were shown your home.
0 votes Thank Flag Link Sun Oct 17, 2010
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