Can I cancel an MLS Exclusive Listing Agreement?

Asked by William, Staten Island, NY Thu Oct 17, 2013

My listing is on one month extension, but I'm not happy the way things are going. I overpriced the market & now don't see any interest since reduced price to what realtor said would take to sell. The home has older decor, but the price now reflects an allowance for style changes. Haven't seen any traffic in last two weeks, but do get phone inquiries asking for major discounts. House is listed on all websites.

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Marcia Kelly’s answer
Marcia Kelly, Agent, Topeka, KS
Fri Oct 18, 2013
Yes. If you feel a listing agent is not promoting your listing, negligent in his duties, does not carry out his promises, is uncommunicative or unreachable or is dishonest or unethical, you may contact his supervising broker & ask to be released from the listing agreement.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Oct 17, 2013
If a price another correction is in order, consider the idea; keep in mind that if a property is not priced on target, it won't matter who the agent/broker is. Also keep in mind that a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions. If you would like to cancel your listing agreement, contact the agent's broker owner and or office manager, and ask that you be unconditionally released.
1 vote
Joseph Runfo…, Agent, Staten Island, NY
Thu Oct 17, 2013
Yes. A listing , may be ended for any of the following reasons; sale of the property, expiration of the time period stated in the agreement, abandonment by a broker who spends no time on the listing, Revocation by the owner (although the owner may be liable for the broker's expenses), Bankruptcy, death, or insanity of either party, destruction of the property, or a change in property use by outside forces such as a zoning change. All listings should specify a definite period during which the broker is to be employed. The use of automatic extensions of time in exclusive listings is illegal in New York.
0 votes
Jill Subes, Agent, New York, NY
Thu Oct 17, 2013
Sure call your agent . they will probably put it on hold for a month but no one will show it but if you are not planning on selling it now that does not matter.
0 votes
Janet Pipes, Agent, Tucson, AZ
Thu Oct 17, 2013
You can cancel but you still may owe your current agent a commission if it sells within so many days - check you listing agreement. What have you done to spruce up the house? Please get some friends and relatives over to give you ideas and perhaps with the added input, they will notice something you are too close to see. You can treat them to dinner if they help you!
0 votes
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