We are not able to move into another house because our plans fell through. Therefore it’s not a good idea to sell our home. Also we only had the home for a year so we’d be paying taxes on the profits since I’m Texas there’s must be a 2Year residency in the house. Our real waste agent doesn’t want to let us out of the contract without paying her 3% of the listing price and her money back for advertising(10K total) . What can we do? She has offered to take the house off of listing to let the binding 6 month contract end but she expects us to sell again in November (October will complete the 2 years of residency). Help we feel hopeless and trapped, we thought we knew our agent very well. She failed to mention the taxes to us and won’t budge.
If you don't want to sell and the agent refuses to cancel then don't accept any offers and let the listing agreement expire. No one can force you to sell.
Thanks for this video! My husband and his sister are selling their parents' property (who have passed away). Within a few days of listing we realized we made a bad decision choosing the agent. She was older, and not technology savvy in any way. She took terrible pictures of the property, and majorly overpriced it (we took her advice thinking she knew what she was talking about). The broker tried to jump in, but she ended up being a very difficult and then nasty person. She refuses to let them out of the contract no matter what they try to do. She has not put any time in with marketing or open houses, only MLS. Any way to force her to cancel?
Your best chance is to tell the broker that you are not going to accept any offer nor be cooperative with showings, so it's pointless to remain in a listing contract. If you bother the broker enough they will likely let you out as it will be a nuisance with no potential for a commission.
@@BalboaRealEstate unfortunately she's digging her feet in, even with letters and phone calls from our attorney. It truly makes no sense! We have two months left on a 6 month contract, guess we have to wait it out. We also filed complaints with local and state board but nothing has happened yet. We are in Nevada.
@@suehalliburton980 If this broker is highly determined at keeping you in the contract you will have to wait it out. Best of luck to you and your family.
I’m the seller and was not happy with listing agent. I’ve contacted her broker and they sent over “cancellation of listing agreement form” with “principle owes no compensation to broker” with nothing else checked off or written. Am I FREE to go with new agent? My new agent can sell to whoever without having to worry if it was one of previous agents client? Thanks 🙏
Did the listing agent give you a written list of buyers that entered? Either way, you are free to go to another agent, but your former agent/broker may have a claim if a buyer who recently entered makes an offer and the were on a list of written names given to you.
@@BalboaRealEstate thank you. No, my listing agent did not give me a list, and on Cancellation of Listing form that was sent over by her broker did not mention any list of clients either. This broker mentioned that he usually send the “cancellation of listing”, first, to the listing agent to list her clients names, then after to her client, but he is stating that he is sending it directly to me, thus we are good to go. I just want to confirm what he is saying is true and correct that we should be okay….? Also, right below #5 where it states “Other than as provided…..” Does this restrict me from filing lawsuit against my listing agent should problem continue to arise? Don’t quite understand what it is stating. Thank you 🙏
Thanks for this video. If there is amount specified in #2, it refers only to the exclusion list (1B is checked)? The way it reads to me, is that the compensation would to paid in any listing or sale. Please clarify.
#1B is based on specific list of people that enter the property or made an offer. #2 is a separate matter that creates % compensation for any sale with another broker that takes place within the listing period outlined on the original RLA. This can be used if the seller is switching agents but the old agent wants a cut of commission in exchange for letting the seller out of the listing agreement early.
I requested a cancellation verbally and in writing the day after I signed the Listing Agreement, which was 7 days before the property was to be officially listed, so the agency spent no time on the listing. The broker sent me the cancellation form with Box A checked. Now I can't hire a new agent before the expiration date. Do I have any options?
Well, you signed a contract and now you are trying to back out so they are blocking you from relisting with another broker. You have 3 options: 1. Proceed with the current broker and be more demanding - or ask the same broker swap out your assigned agent because you are not happy with your current agent and you want one that will work harder. 2. Negotiate a release with the current broker 3. Wait out the listing period. That's everything, gonna be one of those 3.
What happens if a Seller jumps the gun, signs an RLA, but then wants to put a "HOLD" on listing the property in the MLS until they have an accepted offer for a home they want to purchase?
If the seller isn't ready then the agent can use "hold" status for a short term period, ideally less than a couple weeks. If the seller doesn't want that pressure then the agent can use the hold status as leverage to maybe extend the end of the listing term. What's important is that the agent keep RLA in effect, do not cancel. If the seller needs the cash from their listing to buy, then their purchase offer will look WAY better to a seller if if their current home is on the MLS, or in escrow.
My clients are accusing me of doing something I never did. They have completely acted out of line and I recently had to debunk everything they said by sending an email with screenshots of text messages. I was completely not in the wrong AT ALL. they have since become so embarrassed that they want me to cancel because they've contacted an agent already. I'm having a vey hard time with this because I haven't done anything wrong. They were confused on the sequence of events and I very kindly reminded them of what actually happened. With that being said, I want to send them a cancellation BUT I feel that my particular situation best fits item 1 A. what are your thoughts??? They spewed a bunch of false Information and since they were proven that to be true, you're just going to cancel with me?? I've had this home on the market for 2 months and spent a lot of time/money trying to procure a buyer.
They can't cancel unless you agree to let them cancel. If you aren't the broker then you should get your broker involved and let them communicate with the seller. If you want out then 1A is a fine option.
"Out of spite"??? In some cases, although rare, agents have put a lot of time, effort, energy and money into the listing and sellers can still be unreasonable and irrational. It's totally fair to be owed that commission.
Should I wait for broker to sign the cancellation CAR form, before signing a listing agreement with a new broker?
Yes, absolutely
We are not able to move into another house because our plans fell through. Therefore it’s not a good idea to sell our home. Also we only had the home for a year so we’d be paying taxes on the profits since I’m Texas there’s must be a 2Year residency in the house. Our real waste agent doesn’t want to let us out of the contract without paying her 3% of the listing price and her money back for advertising(10K total) . What can we do? She has offered to take the house off of listing to let the binding 6 month contract end but she expects us to sell again in November (October will complete the 2 years of residency). Help we feel hopeless and trapped, we thought we knew our agent very well. She failed to mention the taxes to us and won’t budge.
If you don't want to sell and the agent refuses to cancel then don't accept any offers and let the listing agreement expire. No one can force you to sell.
Thanks for this video! My husband and his sister are selling their parents' property (who have passed away). Within a few days of listing we realized we made a bad decision choosing the agent. She was older, and not technology savvy in any way. She took terrible pictures of the property, and majorly overpriced it (we took her advice thinking she knew what she was talking about). The broker tried to jump in, but she ended up being a very difficult and then nasty person. She refuses to let them out of the contract no matter what they try to do. She has not put any time in with marketing or open houses, only MLS. Any way to force her to cancel?
Your best chance is to tell the broker that you are not going to accept any offer nor be cooperative with showings, so it's pointless to remain in a listing contract. If you bother the broker enough they will likely let you out as it will be a nuisance with no potential for a commission.
@@BalboaRealEstate unfortunately she's digging her feet in, even with letters and phone calls from our attorney. It truly makes no sense! We have two months left on a 6 month contract, guess we have to wait it out. We also filed complaints with local and state board but nothing has happened yet. We are in Nevada.
@@suehalliburton980 If this broker is highly determined at keeping you in the contract you will have to wait it out. Best of luck to you and your family.
I’m the seller and was not happy with listing agent. I’ve contacted her broker and they sent over “cancellation of listing agreement form” with “principle owes no compensation to broker” with nothing else checked off or written. Am I FREE to go with new agent? My new agent can sell to whoever without having to worry if it was one of previous agents client? Thanks 🙏
Did the listing agent give you a written list of buyers that entered? Either way, you are free to go to another agent, but your former agent/broker may have a claim if a buyer who recently entered makes an offer and the were on a list of written names given to you.
@@BalboaRealEstate thank you. No, my listing agent did not give me a list, and on Cancellation of Listing form that was sent over by her broker did not mention any list of clients either. This broker mentioned that he usually send the “cancellation of listing”, first, to the listing agent to list her clients names, then after to her client, but he is stating that he is sending it directly to me, thus we are good to go. I just want to confirm what he is saying is true and correct that we should be okay….?
Also, right below #5 where it states “Other than as provided…..” Does this restrict me from filing lawsuit against my listing agent should problem continue to arise? Don’t quite understand what it is stating. Thank you 🙏
I just learned my agent isn't allowing other agents to show my property. I'm afraid he won't let me out of my listing agreement. What should I do?
Contact their broker. If you have evidence then that agent is in violation of the listing agreement.
Thanks for this video. If there is amount specified in #2, it refers only to the exclusion list (1B is checked)? The way it reads to me, is that the compensation would to paid in any listing or sale. Please clarify.
#1B is based on specific list of people that enter the property or made an offer. #2 is a separate matter that creates % compensation for any sale with another broker that takes place within the listing period outlined on the original RLA.
This can be used if the seller is switching agents but the old agent wants a cut of commission in exchange for letting the seller out of the listing agreement early.
@@BalboaRealEstate Thank you!! That's what I thought.
The listing agent canceled the listing on the MLS but hasn't sent me the cancelation document. Can I send him this form?
yes, but better that you acknowledge the listing cancellation in writing (email) and request that form from your former agent's broker.
I requested a cancellation verbally and in writing the day after I signed the Listing Agreement, which was 7 days before the property was to be officially listed, so the agency spent no time on the listing. The broker sent me the cancellation form with Box A checked. Now I can't hire a new agent before the expiration date. Do I have any options?
Well, you signed a contract and now you are trying to back out so they are blocking you from relisting with another broker. You have 3 options:
1. Proceed with the current broker and be more demanding - or ask the same broker swap out your assigned agent because you are not happy with your current agent and you want one that will work harder. 2. Negotiate a release with the current broker 3. Wait out the listing period.
That's everything, gonna be one of those 3.
What happens if a Seller jumps the gun, signs an RLA, but then wants to put a "HOLD" on listing the property in the MLS until they have an accepted offer for a home they want to purchase?
If the seller isn't ready then the agent can use "hold" status for a short term period, ideally less than a couple weeks. If the seller doesn't want that pressure then the agent can use the hold status as leverage to maybe extend the end of the listing term. What's important is that the agent keep RLA in effect, do not cancel. If the seller needs the cash from their listing to buy, then their purchase offer will look WAY better to a seller if if their current home is on the MLS, or in escrow.
@@BalboaRealEstate Thank you!
My clients are accusing me of doing something I never did. They have completely acted out of line and I recently had to debunk everything they said by sending an email with screenshots of text messages. I was completely not in the wrong AT ALL. they have since become so embarrassed that they want me to cancel because they've contacted an agent already. I'm having a vey hard time with this because I haven't done anything wrong. They were confused on the sequence of events and I very kindly reminded them of what actually happened. With that being said, I want to send them a cancellation BUT I feel that my particular situation best fits item 1 A. what are your thoughts??? They spewed a bunch of false Information and since they were proven that to be true, you're just going to cancel with me?? I've had this home on the market for 2 months and spent a lot of time/money trying to procure a buyer.
They can't cancel unless you agree to let them cancel. If you aren't the broker then you should get your broker involved and let them communicate with the seller. If you want out then 1A is a fine option.
"Out of spite"??? In some cases, although rare, agents have put a lot of time, effort, energy and money into the listing and sellers can still be unreasonable and irrational. It's totally fair to be owed that commission.
p͎r͎o͎m͎o͎s͎m͎ 🙋