Question Details

Carole, Home Seller in Buffalo, NY

We want to take our house off the market. What are our obligations to the broker?

Asked by Carole, Buffalo, NY Mon Dec 29, 2008

in our contract it states that we have to pay our broker any expenses he encurred in trying to sell our house. Do you have any idea how much that would be and is there any way to avoid this?

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Answers

6
Carole,

Why do you want to take your house off the market? Are you dissatified with the service you are receiving? Have your plans changed? Have you spoken with the broker about your changing needs? Those are all pertinent questions which may effect how the broker approaches the answer.

Best of luck,

Susan

Susan Morris
Coldwell Banker Heritage Realtors
1 vote Thank Flag Link Tue Dec 30, 2008
The listing agreement governs all binds both parties (seller/listing agent) to executed agreement. Confer with agreement speak with your agent.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Dec 29, 2008
Carole,

Many people find themselves in this same position. You should first refer to your listing agreement to see what it specifies regarding breaking your contract with the listing company. In many situations there is a penalty in place that would require you to compensate the broker for their advertising expenses etc.

We recommend sitting down with your agent to review this with them. They will be able to provide you with the information you are seeking.

Good luck.
0 votes Thank Flag Link Mon Dec 29, 2008
Carole your broker should be able to provide an itemized list of expenses incurred. Of course, please check your listing agreement for specifics. You can try to negotiate on that amount if it is more than you can afford. Your broker SHOULD prefer to find a good solution that would be a win-win for you both!
Liz Bowen
Liz Bowen Team
Keller Williams Partners
Colorado Springs, CO
719.351.5077
0 votes Thank Flag Link Mon Dec 29, 2008
Check your listing agreement before you take action.
0 votes Thank Flag Link Mon Dec 29, 2008
Your listing agreement is a legally binding contract. Expenses would cover such things as advertising & administrative costs. some brokers charge a flat fee for early withdrawal rather than itemize expenses. Your broker is the only one wo can really give you the correct info.
0 votes Thank Flag Link Mon Dec 29, 2008
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