realtor-builder realtionship, need to terminate listing

What is the name of your state?What is the name of your state?What is the name of your state? TEXAS

Over the last year, we have been in the process of building a new home in a planned community. The builder advised the use of a specific Realtor to list our current home for sale, with the benefit being that the Builder would pay the Realtor's 3% commision. We agreed, thinking at the time that our house would be no problem to sell (good neighborhood, large modern home <5 years old, many upgrades, etc.).

The house has been on the market 4 months, with virtually no effort made on the part of the Realtor to sell it. Aside from listing it online and having pictures taken and flyers printed, he has does nothing else. We specifically asked about possible open houses, 'virtual tours' online, or other options: these were all declined by the Realtor as unnecessary. He has shown the house ONCE in this timeframe (all other showings were through other realtors from the showing service). He made no suggestions on anything we should do to make the house more marketable.

The first contract fell through during the option period when the Buyer had a family emergency overseas. The second contact was terminated after an inspection which demanded $20,000 of repairs. There are specific items of the inspection which are untrue (we have since retained the inspection services of other professionals to rebut/confirm). Additionally, our Realtor did nothing to faciliate the process during the contract option period, so we got the Inspection report and request for repairs on a Holiday weekend with no way of even getting a second opinion.

At this point, the Builder expects us to purchase the newly-built home by July 29th or forfeit the $40,000 we already have in that home. We asked to terminate the realtor's agreement in order to actively pursue other options to get our current home sold, but he refuses to relinquish the listing 'rights' until August 2nd (meaning no other realtor can list it, and he gets commission if it sells). The listing agreement does not specifically dicuss 'right to terminate' before the end of the listing. At this point, I expected the Realtor to agree to the request simply to avoid having a bad customer referral or potential complaint to the Realtor's Association, but no.

We are in a position to buy the other home without selling the current one, but shouldn't we have other recourse? Since the Builder pressured us to use this agent as the Realtor of record on their contract, yet this agent failed to sell the house, it seems an extension should be in order (or at least force the Realtor to terminate the listing). Also, what can we do about the incorrect Inpection report, which probably cost us the other contract; it is disclosure for the next sale and although we now have other inpections refuting the information, I am not confident how that will go over with another buyer.

[HomeGuru]

Originally Posted by tryffid

What is the name of your state?What is the name of your state?What is the name of your state? TEXAS

Over the last year, we have been in the process of building a new home in a planned community. The builder advised the use of a specific Realtor to list our current home for sale, with the benefit being that the Builder would pay the Realtor's 3% commision. We agreed, thinking at the time that our house would be no problem to sell (good neighborhood, large modern home <5 years old, many upgrades, etc.).

The house has been on the market 4 months, with virtually no effort made on the part of the Realtor to sell it. Aside from listing it online and having pictures taken and flyers printed, he has does nothing else. We specifically asked about possible open houses, 'virtual tours' online, or other options: these were all declined by the Realtor as unnecessary. He has shown the house ONCE in this timeframe (all other showings were through other realtors from the showing service). He made no suggestions on anything we should do to make the house more marketable.

The first contract fell through during the option period when the Buyer had a family emergency overseas. The second contact was terminated after an inspection which demanded $20,000 of repairs. There are specific items of the inspection which are untrue (we have since retained the inspection services of other professionals to rebut/confirm). Additionally, our Realtor did nothing to faciliate the process during the contract option period, so we got the Inspection report and request for repairs on a Holiday weekend with no way of even getting a second opinion.

At this point, the Builder expects us to purchase the newly-built home by July 29th or forfeit the $40,000 we already have in that home. We asked to terminate the realtor's agreement in order to actively pursue other options to get our current home sold, but he refuses to relinquish the listing 'rights' until August 2nd (meaning no other realtor can list it, and he gets commission if it sells). The listing agreement does not specifically dicuss 'right to terminate' before the end of the listing. At this point, I expected the Realtor to agree to the request simply to avoid having a bad customer referral or potential complaint to the Realtor's Association, but no.

We are in a position to buy the other home without selling the current one, but shouldn't we have other recourse? Since the Builder pressured us to use this agent as the Realtor of record on their contract, yet this agent failed to sell the house, it seems an extension should be in order (or at least force the Realtor to terminate the listing). Also, what can we do about the incorrect Inpection report, which probably cost us the other contract; it is disclosure for the next sale and although we now have other inpections refuting the information, I am not confident how that will go over with another buyer.

**A: go an see a real estate attorney fast. Your contract and other paperwork needs to be reviewed.