I'm looking to lease my condo and I've signed an Exclusive Right to Lease agreement with an agent. Can I?

Asked by Tr_mt, 07030 Thu Jun 18, 2009

terminate this agreement if I decide to take my condo off the market? If I find a buyer without the involvement of any agents, am I required to pay a fee?
Thanks

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4
Laura Gianno…, Agent, Manahawkin, NJ
Fri Jun 19, 2009
A lease listing agreement is the same as a sale listing agreement. If you wish to take the condo off the market, you can ask for an unconditional withdrawal. That will allow you to find a buyer or renter on your own, providing that renter or buyer you find did not see the property while it was listed with a REALTOR.

Check your listing agreement. There's a section that is filled in by your listing agent that states 'if the real estate is sold, leased or exchanged within _____days of expiration of the listing agreement to someone introduced to the property during the term of the agreement' you must pay a commission.

An unconditional withdrawal voids the listing agreement . A listing agreement is a binding contract to sell or lease property. This answer is not legal advice, only an attorney can provide that.

Laura Giannotta
Keller Williams Atlantic Shore
1 vote
Matt Leighton, Agent, Arlington, VA
Tue Jul 22, 2014
If your end goal is to terminate your relationship, and then find a buyer on your own (which it looks like it is), usually there is a time period of after the agreement terminates that the agent would still be compensated.

I would be sure to re-read the agreement to see what that time period is and if you signed for any retainer fee paid to the broker.
0 votes
Robert DiIor…, Agent, Hoboken, NJ
Tue Jul 22, 2014
I would discuss this with an attorney. An attorney with real estate transaction experience can best guide you.
0 votes
Shivers, , Chicago, IL
Thu Jun 18, 2009
Yes, you can cancel at any time. Make sure you put it in writing, too. Check your contract for fees. usually if a buyer comes 30 days after the cancellation of agreement, no you do not have to pay. Otherwise you may have 6 months. Check your contract
0 votes
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