Termination of Listing Agreement with no dates

What is the name of your state?CA

On 2/16/04 we signed a Listing Agreement with our real estate company. After 3 months with only 4 showings and minimal effort in marketing we wish to switch to a more aggresive company. New company will not sign on without a formal release.

Requested release from listing agent on 5/4/04. On 5/5/04 a handwritten release was presented to us stating that should one particular couple that had been brought through a month earlier make an offer that; "the "EXCLUSIVE RIGHT TO SELL" contract mentioned above will remain in FULL AND ENFORCEABLE EFFECT" with our agent and his agency acting as seller's agent.

We do not want this agency negotiating on our behalf. They have shown themselves to be incompetent in negotiating with prospective buyers. Our new agent is willing to pay a referral fee for this couple if the old agency will back away from the negotiations. They find this unacceptable.

In looking over our copy of the Listing Agreement we discovered that there are a number of ommisions. The most important being the listing dates.

Is the original agreement a valid contract without the listing dates?

The release being offered is from the agent personally. Broker/Manager is not providing the release, stating it is up to the individual agent. In CA I have been told the listing is actually the Broker's and does not belong to the agent.

Is this correct?

If yes, is agent's release valid?

Can broker come back later demanding compensation?

Without an ending date in the original contract how long will this go on?

How do we fix this?

We have so far consulted 2 real estate brokers regarding this matter. We plan on seeking the advice of a real estate attorney as well, but would greatly appreciate feedback from the professionals on this forum.

Thank you,
Antoinette

[HomeGuru]

Originally Posted by antoinettev3

What is the name of your state?CA

On 2/16/04 we signed a Listing Agreement with our real estate company. After 3 months with only 4 showings and minimal effort in marketing we wish to switch to a more aggresive company. New company will not sign on without a formal release.

Requested release from listing agent on 5/4/04. On 5/5/04 a handwritten release was presented to us stating that should one particular couple that had been brought through a month earlier make an offer that; "the "EXCLUSIVE RIGHT TO SELL" contract mentioned above will remain in FULL AND ENFORCEABLE EFFECT" with our agent and his agency acting as seller's agent.

We do not want this agency negotiating on our behalf. They have shown themselves to be incompetent in negotiating with prospective buyers. Our new agent is willing to pay a referral fee for this couple if the old agency will back away from the negotiations. They find this unacceptable.

In looking over our copy of the Listing Agreement we discovered that there are a number of ommisions. The most important being the listing dates.

Is the original agreement a valid contract without the listing dates?

The release being offered is from the agent personally. Broker/Manager is not providing the release, stating it is up to the individual agent. In CA I have been told the listing is actually the Broker's and does not belong to the agent.

Is this correct?

If yes, is agent's release valid?

Can broker come back later demanding compensation?

Without an ending date in the original contract how long will this go on?

How do we fix this?

We have so far consulted 2 real estate brokers regarding this matter. We plan on seeking the advice of a real estate attorney as well, but would greatly appreciate feedback from the professionals on this forum.

Thank you,
Antoinette

**A: without reviewing the contract in its entirety, we are not in a position to advise you. Go ahead and see the attorney.

Thank you for the reply. I will be speaking with an attorney this morning.
Antoinette

[HomeGuru]

Ok and good luck to you.