Home Selling in 02767>Question Details

Vickie Nicho…, Home Owner in 02767

how to stop renewal of real estate contract?

Asked by Vickie Nicholson, 02767 Fri Apr 29, 2011

I need to send letter to a real estate agent that has not show or sold my property in a year.

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20
Hi Vickie,

Mr. Moore is absolutely correct. If your contract has expired with the agent, then there is nothing else needed to do. If you are still under contract, I would recommend you call them ASAP and ask to cancel the contract. If someone were ever unhappy with my service and commitment, I would let them out immediately after apologizing.

Ray Cardoza
Keller Williams Realty
2 votes Thank Flag Link Fri Apr 29, 2011
Hi Vickie,

Great responses from the other agents. They are all correct...especially Heidi (one of my favorites!). :-)

If I may, I'd like to take the conversation a step further and ask why you think your agent wasn't able to get any showings for your property? Do you feel that the marketing was inadequate? Did she make herself available for open houses? Is the list price in line with Fair Market Value? Is the home properly staged? These are all questions that your next agent will want to know so it might be worthwhile to start thinking about how you will respond before you begin the interview process.

I'm sorry that you lost a year trying to sell your home. My attitude is this: when priced, presented, and promoted correctly, any home should sell within 2-3 weeks, without exception. If 3 weeks goes by and the home hasn't sold, I know that something needs to change.

Best of luck!

Jay Allen
Coldwell Banker
Web Reference: http://www.josiahrallen.com
1 vote Thank Flag Link Fri Apr 29, 2011
Vickie if your house is still listed and your contract has expired you should call the Broker of the office. That is unethical conduct
1 vote Thank Flag Link Fri Apr 29, 2011
There is no need to stop a renewal, just don't renew it when it expires. All listings must have a start and stop date and they can't be made to automatically renew. Once expired just relist it with a new company.
1 vote Thank Flag Link Fri Apr 29, 2011
If you aren't satisfied with the agent of company, you should be able to submit, in writing, a brief description of why you feel you are not able to keep the listing agreement. Most agencies will honor it at no charge, if the request is valid. Most agencies list for a 6 months with a samll cancellation fee. You should be close enough to your agent to discuss this with them at any given time.

If you want out because you have decided not to sell, the property can go into a withdrawn status and usually the agent will do so with a written statement or even a phone call to them.
0 votes Thank Flag Link Sat Apr 30, 2011
It is correct that a contract has a begining date and also an ending date, to be valid and enforceable, but it is also correct that a good agent is willing to cancell such contract anytime, if the client is not happy.
0 votes Thank Flag Link Sat Apr 30, 2011
I don't know about the area's that the other Brokers are speaking of, but, in our area....a contract is a contract is a contract. You have signed a document that is legally binding between you and that company.
Read your contract, there should be something written with a beginning and an ending date.
Personally, I agree with Mr. Cardoza from Middleton RI...if a client is unhappy, as a BIC or Owner or Real Estate Sales Person, you are most generally better off agreeing to let the client out of the contract. That said, in order to get the contract released, you are going to have to speak to the person who has the authority to release it.
My suggestion, go to the agents office and ask to speak with the Agent or their BIC. Keep in mind the market we are in right now. You may be firing an Agent or Company who have constantly advertised your property and promoted it. Have they advised to consider reducing the price? Have they suggested cosmetic changes? Or have they just done nothing... Confront the issue, find out the problem, and then make a decision on how you want to handle it. If your property is on an MLS system, then YOUR agent is not the only one who has had access to show it.... - A few minutes ago
0 votes Thank Flag Link Sat Apr 30, 2011
Most real estate professional are very reasonable, as most agents understand how important reputation is in this industry. Sometimes a very open conversation expressing your dissatisfaction and plans to void the contract can result in many positive solutions. However there is typically a clause within your contract that will state the terms in the event that the contract should no longer be carried out. However if you feel uncomfortable speaking with your agent, speak to their manager and they will certainly accommodate you.

Also, if you have not already, reevaluate the local current market, then possible readjust your advertising. A good way to do this is have your broker have broker open house. At the open house, have the real estate agents give feed back. It could be something simple that is possibly being over looked. In addition this will be great exposure for your home to the agents that may have perspective customers to buy your home. Good luck!
0 votes Thank Flag Link Sat Apr 30, 2011
The listing agreement would require a renewal amendment then it would just expire.

However review the terms of listing agreement on what is required OR contact listing agent OR their broker

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Apr 30, 2011
Hi Vickie,

First thing you need to do is look at your Listing Agreement to make sure it hasn't expired. There should be an expiration date on the Listing Agreement contract you signed.

If it's expired, you don't need to do anything.

If it's not expired, you need to contact your Listing Agent and tell them you want to cancel the listing and you want them to give you a Cancellation Of Listing Agreement to sign. If they won't do that, contact their Broker (if they are not the Broker) and let their Broker know so they can get the Cancellation to you.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Sat Apr 30, 2011
Contact the agent and tell them you want to cancel the Listing Contract. If that fails contact the Broker and tell them you wish to cancel the Listing Contract. They must respond in a timely manner.
0 votes Thank Flag Link Sat Apr 30, 2011
There may be other reasons that your house is not selling.
0 votes Thank Flag Link Sat Apr 30, 2011
I like Heidi's answer, too. After reviewing your paperwork so that you are sure it has expired, I would also let the local MLS and real estate board know what has happened.
0 votes Thank Flag Link Fri Apr 29, 2011
Dear, Home Owner:

The Real Estate Exclusive Agreement Term is usually between 6 months and 1 year. All you can do is hiring another Agent.

Regards,
Web Reference: http://www.glinerealty.com
0 votes Thank Flag Link Fri Apr 29, 2011
Call the company. Ask for a different agent. Or go to a different company.
0 votes Thank Flag Link Fri Apr 29, 2011
Tim and Raymond are correct. Your Listing Agreement should have an expiration date. There's nothing for you do when the agreement expires. If the agreement is to be renewed or extended, you must authorize the extension or renewal by signing the extension or new agreement. Simply refuse to sign it.
Web Reference: http://Lew.BestChoice.net
0 votes Thank Flag Link Fri Apr 29, 2011
Hi Vickie,

You should check to see if your home is listed for sale in the Multiple Listing Service as well as checking the contract that you signed.
0 votes Thank Flag Link Fri Apr 29, 2011
Not sure of your exact situation. Look at your listing contract and see when it expires. To renew you generally have to sign some form saying your are renewing the contract.

If you want to withdraw your listing ask your agent to withdraw the listing. Though a withdrawal still keeps the contract in full force.

A cancellation becomes a bit more complicated, but it is something I would talk to the agent about and see if you can come to terms.
0 votes Thank Flag Link Fri Apr 29, 2011
Hi Vickie,

A listing agreement on a property does not automatically renew. As one of the agents stated the contract has a start listing date and a stop listing date on the contract that you signed. I would check your copy on the contract and if there is a problem contact the agent that you listed the property with. If that agent does not return your call then call the agent's office and ask to speak to the broker in charge. A listing agreement only lasts as long as the dates on the contract.

Brenda Busch
Atlantic & Pacific Real Estate
East Bridgewater, Ma
774-222-2150
0 votes Thank Flag Link Fri Apr 29, 2011
Generally speaking, a listing contract is for six months, at which time, the seller and agent discuss whether to renew the listing if the home has not been sold. Depending on the market conditions in your area, price, and condition of the home, it may not be unusual for a home to take several months to a year to sell. That being said, it is appauling that your agent has not been communicating with you or showing your home. Is the contract you signed still valid? If it was only a six month contract and you never signed an extension, and you have not re-listed with another agent, it may not be in the multiple listing service any longer and that would certainely affect the number of showings. If the contract is no longer in effect, you do not need to do anything further. However, if the contract is still in effect, I would strongly suggest you call the agent to discuss the matter. It sounds as though you certainly have grounds to fire him/her! Good luck!
0 votes Thank Flag Link Fri Apr 29, 2011
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