Profile picture for Diane1951

My home is for sale with an agent. Can I rent it out with another agent?

  • October 08 2013 - US
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Answers (5)

Before you take any action, we suggest that you consult with an attorney who handles residential real estate matters.

  • October 09 2013
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We don't know what state you are in so being familiar with your documents is a stab in the dark.  Read the listing contract.  There should be a paragraph dealing with the duties of the seller.  Specifically something should reference renting. 

Most contracts require you to notify the listing broker before renting.  The reason is, your terms in the listing agreement indicate you will have the home available to be shown.  If you have a tenant and not cannot show the home you are in breach of the listing contract.

Being in the industry I understand why the agent wants a cancellation fee.  Time and money are expended prior to putting the home on the market and while the home is on the market.  Whether it is directly out of the agents pocket or the Broker owner of the real estate company it is nevertheless out of pocket.

The agent/broker are spending money to market your home.  They have X number of months per the listing agreement for the marketing to pay off - your home to sell- and for them to receive a commission, thus reimburse the pre sale expenses.

Now the homeowner wants to cancel that contract and deny them the ability to recoup their investment.  If you were dealing with a cell phone company and cancelled your contract you would have a hefty cancellation fee.  Any contract where a service is provided for a designated period of time - should you cancel - there is a penalty in the form of a fee.

The listing contract is not with that specific agent alone.  The contract is actually with the broker of the company.  If your agent has failed to perform then you should take it up with the broker who may be able to assign another agent to assist you.
  • October 09 2013
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The listing agreement is a binding contract and you should take your home off the market if you do not intend to sell.  I think you are tap dancing in a gray area,  definitely not a fun area, so I'd recommend consulting the listing agent, then their broker and lastly a qualified real estate attorney. 
  • October 08 2013
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Profile picture for Diane1951
We are having problems with our listing agent who doesn't communicate well with us.  She wants us to pay a penalty to release our contract.  We want to rent the home out and are considering another agent.  I don't know if we can get released from our first agent or not.
  • October 08 2013
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Profile picture for wetdawgs
Talk to your listing agent about this.  Having two independent agents who don't know about each other except by accident would be a very very bad idea.
  • October 08 2013
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