Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on TwitterFollow AgentsOnline on Facebook

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityCelebrating 13 years as one of the internet's most popular Real Estate Communities!

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Page 1 of 2 1 2 >
Topic Options
Rate This Topic
#36856 - 06/02/05 05:29 AM Is this Correct?
ketedford Offline
Junior Member

Registered: 06/02/05
Posts: 7
Loc: Chittenango, NY
My listing agent had my house on the market for the past 6 or 7 weeks. He did a horrible job (wrong description for home, late for open houses, sometimes put the wrong price in the paper, ...). Last Monday, I took the copy of the contract that I had and wrote on it: VOID & UNENFORCEABLE. My wife and I signed and dated it and then the agent did the same thing. My question: Does this release me where I can either sell it myself or go through another broker? We wants me to sign a piece of paper stating that it is withdrawn. However, I don't want to sign it because technically the contract no longer exists and, therefore, anything after that is meaningless. Is my thought process correct?

Top
#36857 - 06/02/05 06:09 AM Re: Is this Correct?
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Are you kidding???

Unless you, your wife, AND your agent and/or his broker ALL write: "VOID & UNENFORCEABLE" you probably still have a binding and legally enforceable contract.

Once 2 parties enter into a legal agreement one side can't withdraw unilaterally; both must agree with any changes.

If you sold your house to a buyer with a contract both you and the buyer signed could the buyer write: "VOID & UNENFORCEABLE" on that contract and say; "see ya"???

Your best course of action would be to talk with you agent and tell him you're unhappy and why. Ask him what he intends to do about it and if you're still unhappy ask for a release.

You may also have to talk with the principal broker of the firm to get out of the contract if they will let you withdraw.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top
#36858 - 06/02/05 06:43 AM Re: Is this Correct?
ketedford Offline
Junior Member

Registered: 06/02/05
Posts: 7
Loc: Chittenango, NY
No, No, No...maybe I didn't explain correctly. Of course it would be meaningless if I just wrote that on the contract and did nothing with it. However, I wrote that on the contract, then PRESENTED it to the agent. The agent read it, agreed and THEN HE SIGNED AND DATED IT. Now, the contract is in fact void, right?

Top
#36859 - 06/02/05 07:27 AM Re: Is this Correct?
Campion Offline
Member

Registered: 02/04/05
Posts: 253
Loc: Las vegas, NV
The various states that I have worked in, the listing agreement is with the brokerage firm, not the agent directly. You may want to call the broker of the firm, explain the situation, and ask them for a complete release.
_________________________
Nashville Real Estate

Top
#36860 - 06/02/05 08:01 AM Re: Is this Correct?
ketedford Offline
Junior Member

Registered: 06/02/05
Posts: 7
Loc: Chittenango, NY
Thanks for your response, that is my concern. However, nowhere on the contract is another signature except for the broker. So, are you saying that he would have a specific form that is a release? Then, this form will sever all relationships that we have together?

Top
#36861 - 06/02/05 09:22 AM Re: Is this Correct?
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
In almost every State, All listing belong to the Brokerage not to listing agents.... only the Brokerage can release you from the listing.

If you withdraw you can still be liable for commissions if you sale prior to termination of the contract. A withdrawal is not a termination of the contract.

Depending on your relationship with the Brokerage, they may allow you to terminate for a fee which is often covered in your contract. This is to allow them to recover cost of marketing. If you have a poor relationship, brokerage may require Specific Performance which has a very large number of potential impacts on your ability to sale and fees that could be due to the brokerage including full commissions payment in some rare circumstances.

A cool head will get better results, blow up and it will generally cost you dearly if your working with a mad broker.

Top
#36862 - 06/02/05 09:28 AM Re: Is this Correct?
ketedford Offline
Junior Member

Registered: 06/02/05
Posts: 7
Loc: Chittenango, NY
I definitely have a cool head. The agent is actually a long time friend (my soccer coach and teacher in school). He is definitely level headed, too. He does it part time and I just want to make sure that he has me sign the correct documents. He doesn't seem to have all the knowledge of what he should do. I have used him for 2 previous purchases and one sale. That sale sold in a day, so he and I really didn't do anything, just plain luck. He agrees that I should be released. I just want to make sure that he does it correctly.

So, I should ask him for a "Release of Contract Form"? Is there a specific name for a form that I need to ask him for?

Top
#36863 - 06/02/05 03:34 PM Re: Is this Correct?
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Sorry, I didn't read your question very thoroughly.

If he signed it also then you probably have a void contract no matter what the broker might say later or try to do.

Everyone that said all listings belong to the brokerage are correct but since an agent of the brokerage signed your "void and unenforceable" note on the listing contract I believe they would have a hard time doing otherwise at this point.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top
#36864 - 06/03/05 04:16 PM Re: Is this Correct?
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
disagree... but it could cloud the issue

an agent could agree the the contract was now a bird and it should not mean anything since in most areas... he has no authority to terminate what is not his.

Top
#36865 - 06/03/05 05:00 PM Re: Is this Correct?
ladylark Offline
Member

Registered: 04/02/05
Posts: 26
Loc: mi
In Mi we use a status change form from the MLS service to uncondionally withdraw listings. These are signed by the seller and the broker showing that the broker has released the contract, there is also a conditional withdrawal which means that the seller is still under contract with the broker.

Top
#36866 - 06/05/05 08:49 AM Re: Is this Correct?
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
In Texas the broker does not have to sign anything to terminate a listing agreement. The principal and agent initiate the agreement, and they can just as easily terminate it. In fact the termination is a lot easier and is only a 1 page form.

Would the way you handled it suffice? Probably, as intent is a big function of contract law, but I bet there is a promulgated form or some standard form to terminate a listing agreement.
_________________________
Dallas Real Estate

Top
#36867 - 06/05/05 08:59 AM Re: Is this Correct?
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
 Quote:
Originally posted by Realty Check:
(the real estate agent) has no authority to terminate what is not his
You *do* realize that ther term "agent" means that the agent is an agent for the broker, right? The real estate agent enters into a limited agency agreement with the broker that basically says the agent is allowed to sign contracts for the broker in specific circumstances.

Typically the broker is an agent for the client, and the Realtor salesperson is an agent for the broker. Not to put too fine a point on it, but this is an extremely fundamental issue and you should be thouroughly familiar with it.

Typical agency: client -> broker -> agent

contrasts with...

Typical lines of communication: client -> agent -> broker
_________________________
Dallas Real Estate

Top
#36868 - 06/05/05 10:06 AM Re: Is this Correct?
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
Texas must be the exception to the rule. Most other states it is the broker of record for the office that must release agreements. Which is the way it should be as the listing belongs to the brokerage and not the agent.


 Quote:
Originally posted by Jflynn:
 Quote:
Originally posted by Realty Check:
(the real estate agent) has no authority to terminate what is not his
You *do* realize that ther term "agent" means that the agent is an agent for the broker, right? The real estate agent enters into a limited agency agreement with the broker that basically says the agent is allowed to sign contracts for the broker in specific circumstances.

Typically the broker is an agent for the client, and the Realtor salesperson is an agent for the broker. Not to put too fine a point on it, but this is an extremely fundamental issue and you should be thouroughly familiar with it.

Typical agency: client -> broker -> agent

contrasts with...

Typical lines of communication: client -> agent -> broker
_________________________
Paul Oaks
Oaks Real Estate Group

Top
#36869 - 06/05/05 11:49 AM Re: Is this Correct?
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
 Quote:
Originally posted by Jflynn:
In Texas the broker does not have to sign anything to terminate a listing agreement.
In most places the brokerage (firm) is the agent; Texas may be an exception.

From a practical point of view however how would you like to be the broker of record and try to collect a commission from a seller after one of your agents had signed the listing agreement where the seller had written in great big letters: "VOID AND UNENFORCEABLE"???

"Gosh your honor, I don't know why my agent would sign that, he wasn't authorized to but he did anyway and................................. "
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top
#36870 - 06/05/05 09:53 PM Re: Is this Correct?
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
I agree, Jim, and I was surprised the first time I saw the form and thought "wow I can't believe the broker doesn't have to consent to the termination of listing."
_________________________
Dallas Real Estate

Top
#36871 - 06/06/05 12:31 PM Re: Is this Correct?
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
 Quote:
Originally posted by Jflynn:
I agree, Jim, and I was surprised the first time I saw the form and thought "wow I can't believe the broker doesn't have to consent to the termination of listing."
Technically the broker does have to consent since most listings are taken in the name of the brokerage firm who is actually the 'agent'.

Realistically however it would be tough to enforce after one of your agents signed off on canclling it.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top
#36872 - 06/06/05 12:47 PM Re: Is this Correct?
Dee in Austin Offline
Major Contributor

Registered: 12/03/04
Posts: 2198
Loc: Austin, TX
Each broker may be different too. Listings are taken in the name of the broker, but I believe my broker lets us terminate without really passing it through her first.

I do know other brokers who want to sign off on terminations. I'm not sure what will happen if the agent simply terminates without going to that broker first.
_________________________
Dee Copeland, ABR, ASR, CRS, e-PRO, GRI, SRES
Broker-Associate, Keller Williams Realty
http://www.CopelandGroupRealty.com
http://www.TexasRealtyBlog.com

Top
Page 1 of 2 1 2 >






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
CourtneyFields19, theshortsaledude, toorgeman123, D best Realtor, Nilufar Yeasmin
21439 Registered Users
Who's Online
8 registered (DueDiligence, barb43, Peace ☼, SBbkr, OrlandoAgent, REODayton, 1 invisible), 151 Guests and 3 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 78
KingofBPOs 55
Brit16 51
super realtor 37
DueDiligence 36
Bigtoe 35
Averis 34
johnnyloans 34
SoldWithVideo 32
Kjmendy 29
RIzwan 29
Scintillion 25
75Corvette 25
Doin' bpose 24
Brad - W4BJM 23
(Views)Popular Topics
No new orders today 4758199
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2708334
Stupid MLS comments. 959123
EML 458010
Evalonline 299689
What do you know about Froy Candelario, top agent in USA 291088
Land America 285007
New HUD Listing Brokers---Any Update? 269792
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239431
Stupid QC comments and BPO requirements. 230798
Is there religious content in Buffini class? 225898
FARVV 177251
REOTRANS 160818
Let's talk about our cars 147832
USRES / RES.NET 147658
asset val seminar in colorado 144137
AVM Bpos 139643
FARVV 126764
PAS 118332
Featured Member
Registered: 10/14/11
Posts: 54

How To Advertise Here


This site presented by RNC Internet Services