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.
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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. ....`
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