My husband and I signed with a "discount broker" not realizing that all the other realtors in the area boycott them because of the poor commission they pay out to other realtors. We've upped the commission agreeing to pay additional monies to other agents but to date, we have not had one showing. And yes, we signed for 6 months. I've asked my realtor/contact to get out of the contract 3 times already. She will not release me. She said "a contract is a contract" and, her husband is an attorney. I don't know what to do. We've been on the market for a little over 2 months now and no showings at all, other than my own open houses where a few people have come. They've held 2 open houses as well and very few people come. We've also lowered the price twice in these 2 months. We're actually low now for what we own. What can I do? I'm pulling my hair out and am dying I'm so stressed. In the meantime, every other realtor I know and everyone else is telling me they don't understand because its easy to get out of these contacts, all I have to do is ask. Well, that's not working. Help! I've already bought in another location and the double mortgage payments are getting too tough.

If you think it was the commission and you took care of that then there must be some other issue. If you upped the commission was that actually offered to other agents? Your agent may be keeping that for himself. Check you MLS listing. I have sceen that happen. Get your marketing changed up. For example you have already shown that in your area in todays market that open houses do not work. Try a video tour. Keep in mind that a video tour only works if its uplodad to verious sites. Tyr placing an add. Maybe place an ad of your own reffererncing your listing but on you own offer a bonus.

You should be able to withdraw the contract just like with any other broker. Tell them you no longer wish to sell your home. You do not have to allow showings. You can remove the sign from your yard. You still own YOUR house and no one can tell you or make you sell it. Name recognition is a factor in marketing. Have you yourself never bought a brand name product? Send me a private e-mail on here and I will try to help.
Edit: Yes consulting a lawyer is always a good idea in a contract situation. Things do vary state to state.
I let people out of contracts upon request its called good karma or good ethics. Take your pic.
No I am not a rich person. I sleep good at night.

No not really It’s a contract and to change and or cancel it all parties have to agree. May be you and I let a seller withdraw and or we have that in our listing agreements. However one can not just assume that all brokers do. Plus its just like a purchase agreement. So let me see what you are saying. If you have a note and mortgage (A contract) and you decide to cancel it you can. I think not. There is a legal procedure that is called an amendment to contract. And with that all parties must agree To do that then the seller may be in violation of the listing agreement. And that may depending on what is in it may make them libel to the listing broker for a commission. Well that is true. However depending on what is in the listing agreement you may have just made this seller liable to the listing broker for his full commission for now the seller is in violation of the contract. Plus you just gave the listing broker ammunition in the event of a law suit or they have to go and see a judge Yes that so but what does that have to do with a legal contract and a proper procedure to change it.

NYHEADACHE I highly recomend you read the listing agreement that you signed as well as seek legal advice from an attorney in your state. You have a legal contract and that requires legal advice. Only an attorney in your state can properly give you the right advice and only after fully reading the contract that you had signed. While my bussiness plan including service is a little different then the discount brokers, I still respect them and their contracts. I know you are unhappy that is obvious. But the question I have is when you signed that agreement did you know what you was signing. Also what was promissed and also put in writting. Depending on that you may me getting exactly what you contracted for. If that is the case you really should not be upset.

Are you sure that the commission offered the selling side has been reflected in the MLS listing? Ask them to show you a broker's copy of the listing and make SURE that the change in commission is reflected in the listing. That should solve the problem - if commmission is the only issue. Although name recognition is important, as an agent, my primary concern is whether the property suits my customers needs and whether enough commission is offered so that I don't have to hit them up for the difference. It's an issue that I would like to aviod if at all possible.

I don't know where you are in NY, but where I am the market is remarkably soft. Nevertheless, I would let a seller out of a listing agreement any time they asked for it. Its just bad business not to! After all, an angry client is a vocal client! You need to read a copy of the listing agreement and find out EXACTLY what it says. You may need to consult an attorney as well. You might consider contacting your local board of realtors, particularly if agent/broker misrepresented what they were offering.

You don't want to take it off the market,there is usually a provision in the contracts that says broker would still be due a commission if house sells during the listing period even if taken off of the market.what they are trying to do there is keep people from making backdoor deals with buyers to screw brokers out of there commissions.

There is usually a provision in there that says agent will diligently market and advertise your property for sale.If that's in there you can request open houses,marketing etc.If the agent refuses and won't let you out of the listing,say you will file a formal complaint against them with the real estate commission for not diligently marketing your property or letting you out of you contract for non-performance.

Upping the commission might make a difference however if it's a discounter and you are paying the buyers agent 4 percent commission.Most agents know the discoutn agents are stretched too thin and nowhere to be found so they end up helping the seller and buyer with the paperwork and doing the job of 2 agents.This is why agents avoid discounters like the plague.It's not that there cheap,it's that agents are doing twice the work for half the commission.

good luck and not giving legal advice

Bland
You have two private posts.

How do you open a private post?

NYHEADACHE
Honesty is important. Let me ask you? What do you do for a living? Why are you here?

NYHeadache,
Why are you so worried about the discount brokers husband being a lawyer when you yourself are a legal assistant? Ask one of the attorneys at your office to help you.

Another example of a home seller trying to save money upfront only to find out it will cost more in the end. If sellers only got it when listing their homes.

NYHEADACHE... I would see if your agent would be willing to be reimbursed for their time and marketing thus far for a full release from the contract. This would be a win-win for everyone.

I would suggest you begin by finding out if you actually have a contract or not. In my state we do not have listing contracts, we have listing agreements and a client may withdraw a listing for any reason or for no reason, at any time.

Unfortunately, that doesn't prevent unscrupulous agents from referring to these instruments as "contracts." They are not.

Should you learn that you indeed do have only an agreement, simply state to your agent that you want to withdraw and if she bullies you, submit that to her in writing, if necessary. Also, be sure to call your state's Real Estate Commission to register a complaint if you find they falsely told you it was a contract. In addition, a call to your local board of realtors and/or local real estate attorney or even a title company, may yield some guidance on the matter.

Good luck.

There is no need to check again, I know this. It is made abundantly clear to us in our real estate schooling as well as reminders at continuing ed seminars, etc. In addtion, it is the occassional topic of discussion at sales meetings and with our personal brokers (at least, those who care about such details.)

And Alan, not that it is any of your business, but I am not in South Carolina, as you stated. I am in Tennessee, as I stated.

Enough already!

The original poster is from New York, and should check out the laws of that state which would apply.

In most jurisdictions, I would suspect that an agreement is something in writing and would be a contract. The terms of which would dictate what can and cannot be done!

If Tennessee has a 'listing agreement' that says you can opt out whenever you want,so be it! Does this 'opt out' also apply to the real estate company?

Excellent question! I've never heard of a broker willing to give up a listing, although I've heard of plenty complaining about sellers. But no, as far as I know it's a one way street.

I take it a step further than complaining if the seller doesn't co-operate, then they are not living up to their end of the contract, and I will request they consider suspending the contract until such time as they are 'serious' about marketing their property. Perhaps they may even wish to contribute to the costs of advertising if they believe it is just a game!

I couldn't agree more.

Thanks for keeping on topic and leave the flaming to another medium! We moderators are also active realtors so we can't always be on top of every posting.

Now I get to digress after having celebrated my Canada Day officially on Saturday, July 1st, today is our off-work day!

To all my U.S. friends, have a Happy and Thoughtful Independence Day!

Thanks, Norm.

Just a comment and or questions here. She signed with a discount broker. With that what was promised in the agreement as well as listing presentation. Just a question what if and we do have a brokers that lists in MLS for $XXX and that is all. What if in the agreements all that was promised and also delivered was an MLS listing and help with contracts. And I also agree with another poster that if a listing wants out of a contract I would. But what if this poster actually has a listing that all that was promised was an MLS listing and to help with a contract if offered. Is not the listing broker delivering on their contract and also promises? And if that’s the case is not the listing broker entitles to hold them to the contract terms? Plus if that’s the case and we are all telling them to complain to the board, commission etc are we all not interfering with a valid listing agreement. I am not flaming anyone with this question. However in her post she said she listed with a discount broker. With that the very first thought that comes to my mind is as I said an MLS listing and possible help with contracts. I also see what I call discount brokers offer a menu of service. MLS is X, you want advertisements is an extra Y you want realtor.com it’s an extra Z etc. Is that the case I do not know? However I think we need to look at it as a possibility.

Without being privy to the actual listing agreement, we cannot know what it contains.

Those of us who are professional realtors have a comprehensive listing agreement and we can competently explain what is contained therein. We are also held accountable for our actions and the terms of the contract. 'Standard' listing forms were developed by realtors and the legal profession and realtors are trained in their use.

If someone comes along with a new contract that is not, pardon the pun, the 'norm', who is accountable? In the hope of saving money, some sign the new contracts without the benefit of independent legal advice. Again, if saving money is the key, the public may not be willing to pay to seek the legal advice they need. You will often see me reply here that we are not lawyers and are not providing legal opinions.

One can 'draft' any contract that the mind can conceive. I, for one, tend to steer away from contracts that deviate from the 'norm'.

The term 'discount' implies something is being cut. We have seen brokers cutting corners by not providing all the servcies one would expect from a full service broker! One would be prudent to seek legal advice and explore fully the differences.

WHAT YOU SEE IS NOT ALWAYS WHAT YOU GET!

If you don't like the game, don't play it!

If you know the rules and then play the game, then maybe you shouldn't cry foul if the rules don't benefit you in the end!

Amen Norm.
Brokers come in all shapes and sizes. If you don't know what you're getting yourself into, you HAVE TO READ THE FINE PRINT.