Can I get out of my listing agreement?
04/05/2016 | Author: Legal Staff
I signed a three-month listing agreement with a broker to sell my house. It’s been almost six weeks, and there hasn’t been any interest from buyers. Can I terminate my listing agreement early?
Before you jump to terminate the listing agreement, have you talked to the broker? Have you discussed your dissatisfaction with his services?
Most professionals don’t want unhappy clients, and perhaps a conversation will resolve your issues. However, if you still want to terminate the agreement after talking with him, you and the broker should agree to terminate the listing agreement in writing.
If the broker is a member of the Texas Association of REALTORS®, he can use Termination of Listing (TAR form 1410) to end the agreement and specify what fees, if any, you will owe to the broker. You can also have an attorney draw up an agreement that’s satisfactory to you and the broker.
Have a question about buying, selling, or leasing property in Texas? Ask us. Not all submitted questions can be answered.
Our listing agent has gone incommunicado for periods up to a week, leading to delays getting our home listed. The last straw came when our agent left town during the option period. The sellers withdrew their offer during a period of non-communication after their inspection. We sent a Termination of Listing to the agent, office manager, and eventually the broker/CEO. The house is still MLS listed, Active Option (although the offer was withdrawn 3 weeks ago), and we have received no reply from the agent, manager, or broker. We have not received any disclosures from the sale that fell through. Is there anything we can do to get free of this contract?
My dad has had his house on the market and listed with a realtor since April 2016. Over the past two months, the realtor/company has not secured one tour on her own or brought one person to the house to take a look. She does not provide regular status reports/updates or anything to indicate she is doing any real work actively marketing the property. She appears to be coasting, letting other brokers bring their interested clients through to make her fee. This in addition to poor/unrepresentative photos of the home and hardly any communication with my dad about what exactly she is doing to sell the house, does my dad have a case to ask to be let out of the exclusive?
This is an unfortunate by-product of different personalities and maybe a lack of communication on both parts. Always be sure your client knows what you are going to do…and do it. Always know what your client expects you to do and hope they are the same. Even the best will have a client they simply can’t please, that is the reason that I make sure they know and it is in writing that the Seller or the Broker may terminate at anytime during the listing. To me, if the parties aren’t happy and not going to be happy, it’s time to get a quickie divorce and move on. ....`
Leave a Comment
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.