Real Estate Seller Contract

I live in Minnesota. Two days ago I signed a contract with the real estate agent to sell my home. There has been no work done yet to sell my home and I have decided that I do not want to use a realtor to sell my home. Can I get out of the agreement? The contract states that the realtor will represent selling my home for one year. Thanks.

[HomeGuru]

Talk to the Realtor and see what can be worked out.

Read the contract - It should contain a clause regarding early termination.

Was the home listed in the Multiple Listing Service by the realtor? If it was, you will have much more difficulty terminating this contract unless you agree to pay the realtor a commision for your home sale.

[HomeGuru]

Originally posted by Elvis
Read the contract - It should contain a clause regarding early termination.

Was the home listed in the Multiple Listing Service by the realtor? If it was, you will have much more difficulty terminating this contract unless you agree to pay the realtor a commision for your home sale.

**A: incorrect advice. The mere submission of the listing into MLS does not by itself create an earned sales commission by the listing brokerage firm.
Anyway, Elvis has left the building again.

Thanks for your replies... no it has not been listed yet. I just signed the paperwork so that the realtor wouldn't have to come back when I was ready to actually list it. Also, he is supposed to be helping me to find a new home on a lake which is in high demand. He told me I needed a realtor because Lake homes sell so quickly. I signed that he would represent me... so far he has been 1-2 hours late for our first two meetings and did not show for our third meeting. He has not found one home for me in the area I am looking. Everytime I find a home and call him to ask him to set up a showing it is already sold because it has been on the market for a few days. Can I fire him all together?

[FarmerJ]

Good luck on search for a lake home most anything with in 60 to 75 miles of the cities is horribly expensive ,

[JETX]

In addition to HG's correct advice and Elvis's waste of bandwidth, I offer the following:

Your signature on the agreement creates a binding contract between both of you. Unless the contract includes some provision for cancellation (very unlikely), you have a contract. There is little (if any) incentive for the realtor to allow you to terminate the agreement. A 'seller agreement' is like gold to an agent.... they don't even have to work to sell your property... and they still get their agent fee if someone else brings the buyer in!! So, I doubt very much if the agent will just 'let you go'.

Further, I think your allowance of just two days is not sufficient time to allow ANY sales effort to be started. I have to think that there is something you aren't telling... like maybe found a buyer on your own and now trying to 'duck' the commission.

And no, I am not a realtor... just a realist.

Finally, NO you cannot 'fire' him... without his permission.

[HomeGuru]

Originally posted by peekachu
I live in Minnesota. Two days ago I signed a contract with the real estate agent to sell my home. There has been no work done yet to sell my home and I have decided that I do not want to use a realtor to sell my home. Can I get out of the agreement? The contract states that the realtor will represent selling my home for one year. Thanks.

**A: read this post. Then read the next post. The 2 contracts mentioned are for 2 different types of contracts. One is selling the home and the other is Buyer representation. How confusing. That's why this thread makes you go Huh?.

[HomeGuru]

Originally posted by peekachu
Thanks for your replies... no it has not been listed yet. I just signed the paperwork so that the realtor wouldn't have to come back when I was ready to actually list it. Also, he is supposed to be helping me to find a new home on a lake which is in high demand. He told me I needed a realtor because Lake homes sell so quickly. I signed that he would represent me... so far he has been 1-2 hours late for our first two meetings and did not show for our third meeting. He has not found one home for me in the area I am looking. Everytime I find a home and call him to ask him to set up a showing it is already sold because it has been on the market for a few days. Can I fire him all together?

**A: JETX, can you make sense of this thread?

Never said the MLS made it a binding contract - If the realtor works for a real estate company, the company is entitled to a portion of the commision.

HomeGuru - Elvis is still here - Unfortunately, so are you

JETX -

Your wrong - most real estate contracts with agents do contain a termination clauses regarding performance. Imagine if you had a realtor who wouldn't show your property nor make appointments which prevented your property from being sold. According to your logic you couldn't terminate the contract if the realtor did not perform their duties - This is not the case - The language in the termination clause would dictate whether this poster could 'fire' their agent.

Seems like you're wasting some bandwidth -

[JETX]

Elvis, in the words of Ronald Reagan.... "there you go again!". You said, "most real estate contracts with agents do contain a termination clauses regarding performance".

As before, I call your bluff.... prove your statement. (However, I fully expect you to ignore this as you have in the past).

Here are at least TWO states that show you're wrong again:
Michigan:
“4. Term/Cancellation: This agreement is entered this ___________ day of _________, 20__. This agreement shall expire on _________________. This agreement may be cancelled only by mutual agreement of both parties in writing.”
source: [url]http://www.mirealtors.com/PDF/Sampleforms/ExBuyAgcycont.pdf[/url]

Colorado:
“27. MODIFICATION OF THIS LISTING CONTRACT. No subsequent modification of any of the terms of this Listing Contract shall be valid, binding upon the parties, or enforceable unless made in writing and signed by the parties.”
source: [url]http://www.dora.state.co.us/real-estate/applics/WritableForms/LC10-6-01WF.pdf[/url]

"A listing agreement can be canceled by mutual agreement."
Source: [url]http://www.getreal-estate.net/m1_sell.htm#anchor756682[/url]

Mississippi makes no mention of cancellation being possible.
Source: [url]http://www.jacksonrealtor.com/listingagreement.pdf[/url]

Also California(?) - at least this agency:
Source: [url]http://www.michaelonrealty.com/la-11.htm[/url]

And in Washington state:
"Listing agreements are generally terminated only by mutual consent, fulfillment of the objectives, or upon a specified expiration date. Most brokers request an exclusive listing (or "exclusive right to sell"), which is a written agreement entitling the listing agent to a commission regardless of who sells the property."
Source: [url]http://www.lakeunion.com/realestate/whatyou5.htm[/url]

So, Elvis, show your stuff..... or are you full of hot air as usual???

[HomeGuru]

JETX, don't waste your time with Elf-is.
He is just a wannabe real estate agent and cannot prove anything.

[HomeGuru]

Steve, don't waste your time with Elf-is.
He is just a wannabe real estate agent and cannot prove that he is correct.

JETX -
First of all this is not some type of 'challenge' its an open forum.

Secondly, each one of your examples had a TERMINATION CLAUSE - each one detailed exactly what was needed to terminate the contract. In the examples you cited, each one requried a MUTUAL CONSENT. This is not required on all listing agreements.

You have too much time on your hand to sit down and try to argue and challenge other posters - the reason I ignore your other 'challenges' is because I don't beleive the purpose of the forum is to engage in tit for tat disagreements with each other. If I choose to ignore your posts/challenges, its not because you're right, its because you THINK you're right and NOTHING will change that. Not even the simple fact that your last post supports my point that each listing contract would have a termination clause - you provided the support, thanks! Reread the post, I recommended the original poster read the contract to find out how he/she could terminate the contract - your examples are good ones. The reason they had a better chance of cancelling the contract if it WAS NOT IN THE MLS was because the realtor could not support the fact that they did ANYTHING - If the property was listed in the MLS and a seller suddenly decided to terminate the contract, they would have a tough time because the realtor listed it.

Have a nice day - This will be my last post directed at you, there's no sense in arguing.

HG - Your just an idiot, I'm not a wannabe agent - I've purchased and sold property and am aware of what a contract looks like.