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getting out of a contract with a broker

I am looking to get out of a contract with a broker.  Its a 6 month contract and we are 2 months into it
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October 22 2012 - Spring Valley
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From your question, I am assuming you are a seller. Send a letter to your agent and their broker explaining why you want to resind your contract. Many brokers will allow a client to walk away from a contract if the client is not satisfied with the services (or lack of services) being provided. Be specific in your letter.
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October 22 2012
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I am the seller and I read thru the contract and can find nothing that states how to get out of it just that it is a contract starting 8/22/12 and ending 2/22/13.  This realtor is the broker as he owns the company.  I just don't feel that we are getting the attention we should be to sale the home.  We have been out of flyers for the home for 10 days now and have had one man come to the door to ask about the home being for sale.  When we asked the broker about flyers he said he could send us the pdf and we could print them.  Why should I use my paper my ink and my printer to print these flyers when this broker stands to make 14k from the sale of my home?  
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October 22 2012
Thanks for posting your question on Zillow.com.

Sorry for your issue.  Sounds like you went with a small broker, perhaps?  Tell them you want out & if they will not let you out, your next course of action is to go to the local Realtor's board.  Therein lies your next course of action if they do not let you out.

Next time, research your Realtor more thoroughly before you sign on the dotted line.  Search on Zillow in your area then read past client reviews.

Best of luck.
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October 22 2012
Just put everything in writing and tell the broker why you are cancelling. You should have the brokers contact information on the contract. Good luck with your next Realtor. I get properties out on the internet to as many sites as I can. I also make a video and get the property out on You Tube and Facebook. Make sure your new agent is good with Social Media and Internet pressence.
Thank You
Suzie Marquardt
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October 22 2012
Sounds like your agent/broker is a real prince of a guy. Send him a letter explaining that you are extremely dissatisfied with his services. Tell him what you expect him to privide ... ie: color flyers, print advertising, internet advertising, open houses twice per month, updated listings on the mls with exterior pictures that reflect seasonal changes and weekly reports on how many inquires his office has received on the listing. If he cannot provide the services you request explain that you wish to cancell your contract with him.

If the agent/broker fails to reply or does not reply to your satisfaction, report him to the local real estate Board. You can ask your agent/broker for the name of the local Board he belongs to ... this might give him a hint of your intentions and persuade him to cancell your listing agreement.

Be sure to check the protection period of the listing agreement. This gives the broker the right to a commission if you sell the house to anyone that your current agent/broker has shown the house to. So be sure to ask the broker for a list of anyone who is to be included in the protection period clause!
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October 22 2012
This is definitely why it's wise for you to research your Broker prior to entering into an agreement. 

In this market, if the price is right, you should be receiving multiple offers.

You written and signed agreement is a fully ratified contract, which can only be canceled in writing signed by both parties. 

Make sure your property is listed as it should be by searching all the sites for it. Google your address. Also, read over the Duties Owed provided to you by the Broker. Has he broken any of those duties owed to you?

Call me and we can discuss your options. 
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October 22 2012
I am curious as to the outcome of this question. Did you meet with your agent/broker and were you able to get out of the listing contract?
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October 30 2012
Request to cancel the contract in writing. The agent's broker must agree to the cancellation in writing. Once you have this in writing you are good to go with another broker.
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November 05 2012
if you are looking to rescind your listing agreement...state the reason and copy the agent and the broker...

the broker will determine if the listing should perhaps be transferred to another agent within the office to satisfy the owner
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November 05 2012
providing a flyer of your property for potential buyers to have every question answered re price, rooms, etc do not make the brokers phone ring...
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November 05 2012
What is the list price if you don't mind me asking? Homes under $200k are moving like hotcakes. Buyer's are buying everything up. The higher priced homes are still moving as well but the demand is much less than the lower priced homes.

Hope this helps!
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November 05 2012
I would highly recommend that you talk with your broker about this issue directly. In most cases the broker will work to resolve your issue
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November 05 2012
Hi,

You should talk to your broker and request a cancellation of the broker contract in writing.

If the agent presented a marketing plan when they first spoke to you about the contact, tell them how you feel that they did not honor their side of the bargain.If your broker completed a market analysis on your property, it should not be hard to sell in this market

Usually brokers will address your concerns, or allow you to get out of the contact

Good luck!

Cindy Sun
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November 05 2012
Honestly, flyers are not going to sell your house. Is your biggest complaint that you don't have any flyers?  In the Boulder market, price, condition, location are major factors in a successful sale.  Other agents have given you advice on getting out of the contract, but why not take the time to detail what you feel is missing in the transaction to your agent and discuss your feelings about the listing.  A good agent/owner will take the time to answer your questions and if possible create a solution. 
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November 05 2012
Contact the broker directly.  Be honest with them and they'll hopefully let you go.  Being a broker however I would take into consideration not so much the time spent but the dollars invested in advertising.  They may think the same.  Good luck.
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November 06 2012
If you are a seller, and are under contract with a california residential listing agreement unfortunately it does not allow for unilateral cancellation. That means that both seller and broker must agree to cancel.

If your broker refuses to cancel, then you are binded until the end date on the contract. It is very important that you get the cancelation paperwork signed before listing with someone else. In addition, make sure that there is nothing checked or added in on the cancellation paperwork. Some brokers will cancel the listing but check certain items on the cancellation preventing you from being able to list with anyone else. 

Certain brokers including myself will cancel listings if the seller wants to. I tell all my clients that they can always cancel my listing if they are not satisfied. (luckily it has never happened to me). I would never want to do business with someone that does not want to do business with me, but other brokers think differently. 

The only other way you can get out of the contract would be if your broker is in breach of contract. If you have a legitimate reason, you may need to look for an attorney if you can not get the broker to cancel. If you need assistance with anything I can help you if you message me, but I am not an attorney and my advice is not meant to be taken as legal advice.

Thank you and good luck.
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November 06 2012
 
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