real estate agent question

[longsally111]

What is the name of your state? South Carolina

Here it is in a nutshell. We hired a friend as an agent. The contract ran out. We stayed on the MLS. When we tried to cancel with her( after 9 months), she stated we had a verbal contract with her and we should honor it. We then asked her to lower the price of the house. She refused unless husband resigned paperwork. We now realize it was a mistake and we want to cancel with her and get another agency. What can we do? My mother stated that since she has a signed contract, we cannot back out or cancel her and then get another agent, only take the house off the market and she was not even sure we could do that. What is the law on this?

 

[moburkes]

What is the name of your state? South Carolina

Here it is in a nutshell. We hired a friend as an agent. The contract ran out. We stayed on the MLS. When we tried to cancel with her( after 9 months), she stated we had a verbal contract with her and we should honor it. We then asked her to lower the price of the house. She refused unless husband resigned paperwork. We now realize it was a mistake and we want to cancel with her and get another agency. What can we do? My mother stated that since she has a signed contract, we cannot back out or cancel her and then get another agent, only take the house off the market and she was not even sure we could do that. What is the law on this?

The law says that you need to read your contract and abide by it. The other law says that all real estate transactions should be written.

 

[longsally111]

lets try this again.

ok lets try this again. The agent stated that we could sign papers stating that the house could be taken off the market. We had planned, however, to list with someone else within days of cancellation. Is that allowable? All contracts are pre-done and standard. i dont know what it says about that and I do not have a copy. That is why I am asking.

 

[ADBunting]

Contracts typically have a definite stated time limit.

All states are different but from my understanding there is a certain time limit after contracts expire that commission is still owed to your listing agent under certain circumstances.

I'm sure that a new agent can inform you of your states rules regarding this when you ask about re-listing.

Agents are ethically bound to do their clients biddings so I'm surprised that yours didn't lower the price on your house.

April

 

[PghREA]

What is the name of your state? South Carolina

Here it is in a nutshell. We hired a friend as an agent. The contract ran out. We stayed on the MLS. When we tried to cancel with her( after 9 months), she stated we had a verbal contract with her and we should honor it.

If the contract ran out - it is done with and the home should not be on the MLS.

Read your contract carefully. Most listing contracts are for 1 year. However, you get to put a number of days you want your home listed in the contract. When that period is up, you need to let the listing agency know that you are exercising your option to cancel the contract and instructions on how to do this should be written somewhere in the contract.

There are no verbal contracts in Real Estate.

We then asked her to lower the price of the house. She refused unless husband resigned paperwork.

Don't resign, that just proves that the original contract is not in force.


We now realize it was a mistake and we want to cancel with her and get another agency. What can we do?

First, read your listing contract carefully. If you don't understand what it says, contact your lawyer to explain it to you. After you fully understand what you signed in the first place, call your agent's broker/manager.


My mother stated that since she has a signed contract, we cannot back out or cancel her and then get another agent, only take the house off the market and she was not even sure we could do that. What is the law on this?

If the contract is still active, you can "withdraw" your home from the market. You cannot relist with another broker until the contract has expired.

First you need to understand what you signed when you listed the property. Remember it is better to list with a good Realtor, than a friend or relative who just happens to be in real estate.

 

[Gadfly]

Most areas have a "standard" contract. However, that does not mean your realtor is using it asking another agent what the terms are would be questionable. He can't tell you what your contract says any more than we can.

All anyone can say with certainty is that you are bound by the terms of your contract. Without reading the contract no one can tell you what those terms may be.

If you don't have a copy of the contract as you have stated, then you must get one. You could be obligated forever. No way of knowing.

It your agent/friend(?) won't give you one and your agent/friend's(?) broker won't, then contact your state Division of Real Estate and file a complaint.

PS, if your husband signed something and didn't get a copy don't ever let him sign anything again!

 

[longsally111]

oh well

yeah, that is where he screwed up. We signed in September, it was for 3 months. She kept it on the mls the entire time without us resigning. When we tried to cancel her, she started the whole, were friends thing and you made a verbal contract with me, etc... On and on it went. Finally, husband already resigned and it is until August, we know that. She already said that we could cancel the contract and take it off the market. We just wanted to go and relist with someone else and that is where we dont want problems. When we sign off, we are going to ask her for copies of the 2nd signed contract and the one where we sign off. Then we will go to the new agent and let him look at it. I am sick over the entire thing and to top it off, our friendship is in the toilet.

 

[longsally111]

update

just an update. We have asked our agent several times to come over and cancel the contract and she has come up with excuse after excuse not to come over. We asked her to come on riday and she didnt show up. We called her today and told her to come today or we will speak to her broker. Lets see how that goes.

 

[nextwife]

She does not HAVE to cancel the contract. She stated she would lower the list price if ALL parties sign listing amendment. Why is that a problem? Are the owning parties NOT in agreement?

 

[PghREA]

She does not HAVE to cancel the contract. She stated she would lower the list price if ALL parties sign listing amendment. Why is that a problem? Are the owning parties NOT in agreement?

"She refused unless husband resigned paperwork" OP already told us that the contract has expired but, is still listed on the MLS. Re-signing paperwork would put the contract back in force which is not what the OP wants to do.

 

[nextwife]

"She refused unless husband resigned paperwork" OP already told us that the contract has expired but, is still listed on the MLS. Re-signing paperwork would put the contract back in force which is not what the OP wants to do.

I'm not sure our poster is clear about the status. Reducing the listed price does NOT extend the contract! One can amend the listed price and amend nothing else.

Either it is expired, or it's not.

How is that possible, that it's expired but still on MLS? MLS won't let the listing stay up on MLS without a listing contract.

If the listing is expired, contact the local MLS, provide a copy of the listing contract and demand they pull it. If the listing contract IS truly expired, then the property can be relisted with any agent they wish..

 

[PghREA]

I'm not sure our poster is clear about the status. Reducing the listed price does NOT extend the contract! One can amend the listed price and amend nothing else.

Either it is expired, or it's not.

How is that possible, that it's expired but still on MLS? MLS won't let the listing stay up on MLS without a listing contract.

If the listing is expired, contact the local MLS, provide a copy of the listing contract and demand they pull it. If the listing contract IS truly expired, then the property can be relisted with any agent they wish..

From my earlier post:

"Read your contract carefully. Most listing contracts are for 1 year. However, you get to put a number of days you want your home listed in the contract. When that period is up, you need to let the listing agency know that you are exercising your option to cancel the contract and instructions on how to do this should be written somewhere in the contract."

This is what I think happened - the listing will stay on the MLS for a year unless they do what ever is stated in the contract to cancel at the end of the period they selected.

 

[longsally111]

the end of it

I am sorry that I was not clearer in my writing. I was trying to condense it. The bottom line is this. The contract expired. She did not remove it from the MLS. When we tried to fire her, she stated we had a verbal contract and she expected us to stick to it. We had a contingency on another house at the time and wanted our money back and we had 4 more weeks to wait. In the meantime, we asked her to lower the price of the house. She stated she would not do so unless we resigned paperwork with her. We were told that as soon as the contingency was up and we got back our money, we could cancel with her.

Update: Last night, she showed up and told us that the papers she had hubby sign were for another 6 months and so we are off the mls but cannot sign with another agent until October, after the season is over. Husband signed off and threw her out of the house. She did that intentionally because she knew we wanted to try with someone else. She then left and called back to apologze saying that if we wanted to list with someone else we could and she wouldnt do anything about it. I told my husband that I didnt trust her and it was over as far as I was concerned. lesson learned, do not use friends in business.