My contract with my agent expires in a week, and I am considering going with another agent.

Asked by DLewis, Oak Park, IL Mon Sep 8, 2008

What are the laws regarding giving him the right to to still sell the house to those who have showed interest in the past 4 months? Can I ask him for list of potential buyers and list them as exclusions with the contract with the new agent?

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10
Alan May, Agent, Evanston, IL
Mon Sep 8, 2008
Sorry guys... in Illinois, most real estate agencies contract have a clause that includes a protection period (anywhere from 3 - 6 months) that protects them for any buyer who saw the property while the first agency had the listing, or from any of the first agencies efforts

UNLESS (and this is an important 'unless')...

... you list with another professional real estate agency, and then THEIR new contract supersedes the old one!! In other words, if you list with a new agent/agency (and the contract includes the clause) then they don't need to worry about an "exclusion" list... the old agency gets nothin'... even if it's someone who saw it with the first agency.

This clause was designed to protect agencies from sellers who'd cancel the contract, only to sell it to someone who tried to do an "end run" around the commission... relisting with a new agency typically gives all clients to the new agency.
4 votes
Christina Mo…, Agent, Saint Petersburg, FL
Fri Sep 12, 2008
I agree with Elvis, the clause it there as agency protection. Was your agent not diligent in their marketing efforts? Sometimes they just let the listing ride out or give up altogether due to homes condition or other factors. I believe every Realtor should provide a weekly communication on efforts made to sell their home and also evaluate price points with the Seller.

These days a home stays on the market from 6-10 mos typically before the home sells.

Review the home price, stage the home, remove clutter, clean up outside, establish a great curb appeal and you will start to get offers!
1 vote
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Mon Sep 8, 2008
I think Elv!s may have you covered here. But if you are making some changes to an old listing and hiring someone new, please review my website. There are not sales here - just tips and tools for you.

Best of luck this time around.
1 vote
Marilyn Gibs…, Agent, Saint Charles, MO
Mon Sep 8, 2008
Hi Seller in OP-
The rules on this may vary from area to area in the country. Yes, you can ask him for the list of potential buyers and exclude them from the contract with the new agent. Your old agent will be grateful for your considertation. However, the new agent will probably not want to begin the expense and work of starting to market your home with those exclusions still in place. I suggest you call your current agent and ask him to contact all of the potential buyers' agents again so you will have a clear picture of whether or not there is truly some serious interest. Good luck to you.
Web Reference:  http://www.bestsellerstl.com
1 vote
Dino Patras, , Arlington Heights, IL
Mon Sep 8, 2008
You could do that, but don't expect your agent to turn over a list of potential buyers. He can still sell your home as the buyer's agent and receive whatever commission you decide to offer the buyer's agent with your new agent.
1 vote
Dorothy M. R…, , Oak Park, IL
Mon Oct 19, 2009
The only reason you would need to exclude them from the new ageement is if you were planning on to sell to them yourself. In which case why would you list with an agent. Be a FSBO and sell it yourself. That is if you have the time to schedule the appointments, what the whole world to know your phone number, are comfortable entertaining total strangers in your home...

Hire a professional, and you will get a professional job.
Web Reference:  http://www.dorothyreid.com
0 votes
Gerry Marzil…, , Oakbrook Terrace, IL
Fri Sep 18, 2009
The best answer would come from your attorney. Find a good, solid real estate attorney, and let him look at the contract you signed with the agent. Please, if you have any questions, feel free to call me.
0 votes
Brandon Schu…, Agent, Western Springs, IL
Wed Sep 10, 2008
OP,

There is a clause in the Illinois listing agreement regarding that issue. You have to check your listing contract to see how many days were put into the agreement.

That protection was put into the contract because years ago a buyer would walk through a house, while it was listed with a broker and later that day the buyer would come back, knock on the door and tell the seller to cancel the listing and they would buy the home. They would make an agreement, the seller would cancel the listing agreement and the buyer would then purchase the home behind the broker's back.

If you re-list your home with another broker, then that agreement is null and void. If a realtor who showed your home while it was listed with the 1st agent wants to come back, then they would have to go through the new agent.
0 votes
Brandon Schu…, Agent, Western Springs, IL
Wed Sep 10, 2008
OP,

There is a clause in the Illinois listing agreement regarding that issue. You have to check your listing contract to see how many days were put into the agreement.

That protection was put into the contract because years ago a buyer would walk through a house, while it was listed with a broker and later that day the buyer would come back, knock on the door and tell the seller to cancel the listing and they would buy the home. They would make an agreement, the seller would cancel the listing agreement and the buyer would then purchase the home behind the broker's back.

If you re-list your home with another broker, then that agreement is null and void. If a realtor who showed your home while it was listed with the 1st agent wants to come back, then they would have to go through the new agent.
0 votes
Brandon Schu…, Agent, Western Springs, IL
Wed Sep 10, 2008
OP,

There is a clause in the Illinois listing agreement regarding that issue. You have to check your listing contract to see how many days were put into the agreement.

That protection was put into the contract because years ago a buyer would walk through a house, while it was listed with a broker and later that day the buyer would come back, knock on the door and tell the seller to cancel the listing and they would buy the home. They would make an agreement, the seller would cancel the listing agreement and the buyer would then purchase the home behind the broker's back.

If you re-list your home with another broker, then that agreement is null and void. If a realtor who showed your home while it was listed with the 1st agent wants to come back, then they would have to go through the new agent.
0 votes
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