qacrawler
07-04-2006, 01:39 AM
It depends. A listing is a form of contract, and a brokerīs failure to perform under the contract can be grounds for an owner to terminate the listing. However, if a listing is terminated by the owner without cause , the broker could sue the owner for damages. The best approach would be to talk to the broker about your dissatisfaction and see if something can be accomplished to solve the problem. Before terminating a listing, you should consult your own attorney for advice. The Agency cannot provide legal advice.
It depends. A listing is a form of contract, and a brokerīs failure to perform under the contract can be grounds for an owner to terminate the listing. However, if a listing is terminated by the owner without cause , the broker could sue the owner for damages. The best approach would be to talk to the broker about your dissatisfaction and see if something can be accomplished to solve the problem. Before terminating a listing, you should consult your own attorney for advice. The Agency cannot provide legal advice.
It is always good to 'write-in' a clause stating "Seller has the right to terminate this listing agreement at any time prior to the written termination date, without cause and at the sole discretion of seller, by giving listing agent/broker written notice of said termination. Termination of the listing shall be effective upon receipt of notice, whether personal or by mail. Seller shall have no legal or financial obligations under such termination and listing agent/broker waives any rights thereto to the contrary."
If you accept an offer by a buyer that was acquired through this listing within the time period stated within the listing agreement, this termination WILL NOT exonerate you from the obligation of a sales commission.
Another suggested clause to add to listing agreement might be: "If seller acquires a buyer without the assistance of listing agent/broker, or any associate agent/brokers, seller shall not be liable for any commission under the sale". This, in essence, mitigates the "exclusivity" of the listing agents right to sell and receive a commission...
Remember, too, that the listing agent/broker does not have to accept the added clauses and you may have to seek another agent/broker that will..