Sweet Semino…, Home Seller in 33772

House Expiring with Agent What happens next if she sells my house today?

Asked by Sweet Seminole Sassy, 33772 Tue Jun 12, 2012

She came to us over the weekend and found us a potential buyer who made an offer we did not approve and got back to her yesterday for our final offer out the door for 160,000.00 no closing costs. She is waiting to hear from the other people on their answer.

What I wanted to know is our contract ends today. I have NO intention to Renew it with her, what happens next.

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9
Julia Fishel, Agent, Dunedin, FL
Tue Jun 12, 2012
Great insight by all, and I would just like to add that even though you are frustrated with your agent, if she can accomplish the goal at a fair price, at the end of the day that is what is important.

If she truly hasn't performed in some area or if you feel she won't fairly represent your interests, definitely talk to an attorney (those mentioned in previous posts are great). Since she's representing both the buyer and yourself, and if an attorney thinks you may have a legitimate grievance with her, you may even be able to negotiate a reduction in the commission. Yet if she's done her job per the terms of your listing agreement, she should be paid in full.

Best of luck to you!

Kind Regards,

Julia Fishel, CDPE, CIAS
Suncoast Partners at REMAX Elite Realty
727.366.0324
Web Reference:  http://www.PinellasPeach.com
1 vote
Ashleigh Masi, Agent, North Redington Beach, FL
Tue Jun 12, 2012
A lot of my fellow agents that have helped answer your question(s) are correct. You should definitely review your listing agreement and see what terms are in place for such an event. You should also contact a real estate attorney as well to go over your options, but as one agent below stated, don't let your frustration with your current Realtor cloud your decision, and your end goal of selling the property. If the $160K that you countered at, is agreeable with these buyers, then you will have a contract, and that's great news!

Deloach and Hofstra (real estate attorneys) on the corner of Seminole Blvd. and 86th Ave. are great local attorneys that can help you. Their number is (727) 397-5571.

Good luck
1 vote
Annette Law…, Agent, Palm Harbor, FL
Tue Jun 12, 2012
Seminole,
As you are aware, nearly all aspects of working with a real estate professional are negotiable. Some brokerages and agents, such as myself use standard forms provided by the State of Florida. Others will create proprietary contracts with special provisions...to benefit you of course. :)

What you may or may not find in the sections titled Cancellation or Expiration
1. The listing brokerage (I.e. your agent) is entitled to compensation if a contract is in process at the expiry date.
2. The listing brokerage (your agent) is entiteld to compensation if any of the buyers who your agent showed the property to, at a later date, choose to purchase your home.
3. The listing brokeage is entitled to compensation for a specified period of time beyond the expiry date for those previous showings.

There is no way to know what other surprises may be embedded in a proprietary contract.

Your next step should be to analyze what went wrong in regards to your relationship with the current agent.
1. Do you feel not enough effort expended to sell your home such as open houses.
2. Poor communications resulting in the impression everyone is waiting for some cosmic event to drop a potential buyer onto the front yard?
3. Too many letters after her name?
4. The only sell strategy you could see was 'Plant the sign & pray for a buyer."
5. Does the possibility exist that the issues are related to the home owner's unwillingness to follow professional guidance and adapt to market realities?
6. Lack of systemic organization?

How will you assess the experience to allow you to repair your existing relationship or evaluate a new agent who will be tasked with marketing your home?

How will you feel if agent one is proven to be right?

It is not uncommon for a home to be relisted with a new agent. Quite often the 2nd, even 3rd agent inherits a homeowner who is now willing to do what is truly needed to get their home sold.

Best of success to you and getting the best outcome possible in selling your home.
Annette Lawrence
ReMax Realtec Group
727.420.4041
1 vote
Great post...#3 cracked me up... Too many letters after her name? I saw a report done by Realtor magazine and it actually showed that a Realtor's income is inversely related to their level of education. I was thinking about getting my Masters Degree but didn't want to take a pay cut! lol..
Flag Tue Jun 12, 2012
Pamela Cohn, Agent, Clearwater, FL
Tue Jun 12, 2012
Sweet Seminole Sassy,

As Professional Realtors, we are not attorney's and can not give legal advise. You need to look at your listing agreement. That is your contract between you and the agent's brokerage company. If you are not sure of the implications you may want to speak with the broker or a real estate attorney. If the listing ends today, you may be ready and able to list with another company. There is usually some sort of a protection clause in the agreement, that if someone your current agent showed the property to, purchases the property, her commission would be protected in a certain manner for a certain period of time. If you accept the offer and have a ratified contract between you and this Buyer, then there is probably some verbiage in your listing agreement addressing this also. It may automatically extend the listing agreement to closing.

Sounds like you have had some frustrating times, but don't lose sight of your goal. If this is a good offer don't let your frustration cloud your decision. Best of luck.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155
http://www.FromCavesToCastles.com
VIEW PROPERTIES ON YOUR SMART PHONE
TEXT "PAMELA" TO 727-213-5142
1 vote
Jeffery Lonas, Agent, Clearwater Beach, FL
Tue Jun 12, 2012
As the contract negotiations began before you listing agreement expired you do have to honor your listing agreement. However, I would ask why you do not want to renew with your current agent? If you are going to list with another agent I would suggest that you interview a few agents and chose one that you feel comfortable with selling you property and one that is going to keep you informed as seller. IF you have any questions please feel free to give me a call or send me an e-mail. I’ll be happy to help in any way I can.


Jeffery Lonas
Keller Williams Gulfside
727-831-6089
JefferyLonas@gmail.com
1 vote
also on the house..... I wanted to read the counter offer agreement and she said to me, that "You do not need to read this, its the same thing as the last one" and put intial here for you and your brother. I am tired of being taken. I do not want to deal with people who are not Honest and trying to help me. We repaired the things she told us about, we did it then she finds us people who want to buy the house at 112,000 to 150,000, to me that is inconsiderate amount of lowballing to us. We spent 30,000 in updates, and i want to recoop what I put into the house wouldn;t you?
Flag Tue Jun 12, 2012
The reason I do not want to renew with this agent is because she is working along with the buyers, she agrivates us and does not work with us, this has been going on since Dec 2011. Its 6 months today so this ends. I do not want her to represent us anymore. she comes up with all these antics on how she can find a buyer for us at the last minute and tells us to keep on lowing the price to apease the new buyers. I went 25,000.00 in price to 164, then We decided last night to take the deal and counter the offer that they wanted the house for 155, but we said no, for 160 then she calls me back and says thats a good deal with them at 155 and then she says she can not get in touch with them. The contract expires today. I am done with realty resources, they are unprofessional people who have unprofessional workers work for them. She fights with us all the time, she tries to confuse me and forcebly forces me to sign contracts that I have not yet had to read throughly. pulling a fast one on me
Flag Tue Jun 12, 2012
Caroleanne V…, Agent, Seminole, FL
Tue Jun 12, 2012
Good Morning,
A listing agreement is set for a start and end date if not renewed then it ends. You will be able to interview or hire a REALTOR starting tomorrow.
Please keep me in mind as I sell in Seminole and I'm just a phone call away.
Best Regards,
Caroleanne Vorac
Realty Executives, Adamo & Associates
727-434-4134
FloridaHomeSolution.com
0 votes
Alma Kee, Agent, Tampa, FL
Tue Jun 12, 2012
Also Attorney Larry Fuentes can actually do your closing for you rather than hiring a Title Company... just an fyi. You may have to modify your contract to allow the closing in Hillsborough County or Fuentes could probably send over a mobile notary if you prefer to close in Pinellas.
0 votes
Alma Kee, Agent, Tampa, FL
Tue Jun 12, 2012
Dear Sassy,

Normally our standard listing agreement has protections for situations just like this. Generally speaking for a few or several months "after" expiration of your listing agreement, if you sell to a buyer that was shown the property by a Realtor then you may be required to compensate that Buyer's Realtor. It would be the Buyer's Realtor side of the commission and I don't think you would owe the listing Realtor for the "listing" side portion.

Now if you don't list with another Realtor and this buyer buys the house then I think your former listing Realtor may take you to court and collect the entire amount, including the listing side. I'm not privy to your contractual agreement and not 100% sure so you may want to thoroughly review the terms of your listing agreement and/or consult with an attorney before you decide to cut out your Realtor.

Your property is in superior functional condition but the wallpaper and very dated cheaper looking lighting fixtures and beige appliances are probably not helping a buyer to see the value, especially at over $175k when the comps may suggest a maximum $160k price. It may even be worth spending a few hundred dollars to simply paint over the 1970s looking wallpaper (to neutralize it) and having HomeDepot or Lowes or a handyman from Angie's List install new light fixtures at least in the dining room and entryway.

Hope this helps... and also I noticed the property is titled as a life estate. Has an attorney or title company advised you on what you need to do to legally transfer the title? I haven't had an experience with Life Estates and it may be a simple process. The Title company YOU select to do your closing should be able to answer your questions. If the title company says you must have an attorney involved, I can highly recommend one of the most experienced (and not too expensive, either) attorneys in Tampa Bay, Lawrence Fuentes: http://www.fklaw.net/real-estate-attorneys/

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
0 votes
Okay, it's hard to tell from the photos but generally speaking wallpaper is not preferred by most buyers nowadays. Also brass finishes on lights , faucets and hardware are seen as dated and less desirable. Yes it's legal to use a FAR/BAR contract but if you're unclear about the details it discloses you should seek guidance of an attorney. Good luck with your sale!
Flag Tue Jun 12, 2012
The wallpaper is new the light fixture is new, all we signed is a simple AS IS Contract, it comes from the classes you all took, its a copy form, not a professional form from the state of Florida.

This is what I have nothing more, its a standarized form she made copies of Its called the AS IS RESIDENTAL CONTRACT FOR SALE AND PURCHASE
form has been approved by the Florida Realtors and the Florida bar do you all know of this if this is Legal for sellers to sign this one?
Flag Tue Jun 12, 2012
The wallpaper is new the light fixture is new, all we signed is a simple AS IS Contract, it comes from the classes you all took, its a copy form, not a professional form from the state of Florida.

This is what I have nothing more, its a standarized form she made copies of Its called the AS IS RESIDENTAL CONTRACT FOR SALE AND PURCHASE
form has been approved by the Florida Realtors and the Florida bar do you all know of this if this is Legal for sellers to sign this one?
Flag Tue Jun 12, 2012
Lila Lopez, Agent, South Miami, FL
Tue Jun 12, 2012
Good Morning,

Once your listings expires, you are of course not required to extend the listing agreement. Given that the agent did bring you an offer from a potential buyer , you will be best served to consult with a real estate attorney on how best to proceed. The listing agreement provides protections for both the agent and the owners to ensure that the sale and marketing of the home are done legally and ethically. There should be a section within the agreement that indicates the terms that would need to be followed in the event of an offer that is being negotiated after the listing has officially expired. Without know what is contained in you lisitng agreement and not being an attorney limits the suggestions that I can provide. You should review your listing agreement and you should see a section that covers for events of what happens after the listing has expired and a buyer that has seen the house prior to the expiration and how that should be treated. The best advise would be for you to consult a real estate attorney.

Depending on the circumstances for your dissatisfaction with your Realtor, you may wish to openly consider if the offer that may be negotiated is acceptable to you at some point. If the offer allows you to attain the goal you wished for when placing your home on the market, then my suggestion would be to keep the options open. In order to continue negotiating the offer, you do not need to renew the lisitng, you just need to have all the terms you agree upon to appear on the contract, including the payment of commission. Good luck with your home sale.

Lila Lopez
0 votes
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