We listed our house for sale with the same realtors that we bought the house through 13 years ago. We had a great buying experience and thought that they'd give us a great selling experience also.
That has not turned out to be what has happend. The realtors made us sign a 6 month contract giving them the exclusive right to sell our home.
We did all the upgrades they recommended and listed the house at the price point they said would sell.
Since listing, they have not done anything at all to push the sale of the house, they have not even brought a single client to view the house.
When we questioned them, the said that the reason there is not much activity on our house is because we (?!) priced it too high in a soft market hit by lots of forclosures and short sales. The recommended we drop the price by $20K, which we did.
We've had about 15 viewings by other realtors with no bites, not even a low ball offer. We questioned them about this and they said we had to drop the price by at least another $30K to be competative. In the mean time, there are new housing developments building within a mile or two of us, selling for more than we're asking. Hmm.
We want to break the contract, they are not performing at all, and we want to list with a larger, more aggresive realtor agency that has a steady stream of clients.
We are wondering if any of our RV-Dreams family has been through this and was successful in breaking a contract and re-listing. Any advice is apreciated!
bjoyce said
01:49 PM Aug 20, 2011
Go talk to the boss of the realtor, the actual broker in charge of the office. Be nice, but tell that person what you just told us. They know you can find a way to break the contract since they are not full-filling their side. If that gets you nowhere than talk to the larger, more agressive agency since they will know exactly how to legally break the contract if they want your business.
Racerguy said
02:57 PM Aug 20, 2011
Bill gave you spot on advise.We had to sign a 1 year contract when we listed ours and did so only because of a positive result selling my Grandmothers house with this realtor.After 6 months the only time we heard from her was asking us to lower the price another 10 or 20 thousand dollars.There were no adds in the newspaper( she claimed they don't work)and every other week We would have to call about the flyers on the sign being gone and people stopping to an empty tube.Long story short we went to her AND her broker and voiced our displeasure and that we wanted to move on.The bright side was that all the sudden there was a flurry of activity and the contracted realtor come up with a customer and a deal we could live with and we sold.We understood the market was tough but just felt our home was just another listing on her resume and not a priority.
Old Snipe said
06:42 PM Aug 20, 2011
Just a quick additional bit of information, the realtor is a husband/wife team, so they are the boss. I have emailed our displeasure a couple of times and have either been ignored, or told to lower the price.
NorCal Dan said
07:23 PM Aug 20, 2011
First, you need to call your realtor, not email. You need them to, in writing, release you from the contract. You must have the written release before you can list with another agent. And in fairness to the realtor, not everything they do is apparent to the seller. It's possible most of the viewings you had were because your realtor was "pushing" your property to other agents. Call them, talk to them, find out what they are doing to sell your property.
kallencbt said
07:57 AM Aug 21, 2011
Your situation sounds horrible - guess I shouldn't be complaining that no realtor within 10 miles will even come look at our house to consider listing it. I see for sale signs on about 20% of the homes in our area (near Sebago Lake in Maine) - and realtors are saying only the purely "entry level" (2 BR ranches under $100k) or "millionaire's bargain" (gorgeous, amenity-filled, waterfront homes with asking prices under $400k) are moving. We've got a really nice middle-class 3BR house on 3 non-waterfront acres in a privacy-lover's paradise (to our way of thinking) and would take $260k for it (down from $285k), but ... I've had it listed on Craigslist and Zillow.com for several months without a single call - their statistics show 15-25 views per month, but no "real" action. There's only another month or so of "season" left to sell it this year - maybe 2012 will be better?
azrving said
09:36 AM Aug 21, 2011
When we sold our house back east, we let the realtor come up with the asking price, he still had the nerve (after the house sat on the market 6+months) to tell us the price was too high!
The realtor is required to market your house aggressively and you should be asking for proof of marketing. All of the local real estate magazines, internet, keeping the flyer boxes full, etc, this cost the realtor money & should motivate them to sell your house so that they can recoup their time/money. Many realtors will get the listing and let another agent make the sale; they still get a portion of the commission without doing the work. It's best to sign a 3 month contract, that way the realtor will usually be motivated to move the property quick. Our experience was the realtor didn't care what the seller wanted, seemed to us the realtor (the guy we hired) and the buyer would try to beat the seller down.
You can fire your agent; I know this because I fired three of them. I was so disgusted with the whole process and the lack of professionalism that I insisted on calling all of the shots when I hired the last agent. I set the price on the house (considerably higher than it was originally), negotiated the commission, and even showed the house a couple of times when my realtor was unavailable. I made it very clear that the price of the house was not negotiable but the realtor by law had to present us with all offers, one guy even asked us to leave our boat, tractor, equipment, etc, and he still had the nerve to offer us less money for the house. The whole process can really make you bitter towards the agents and the buyers, been there done that. Our buyer would have gotten a much better deal but after 14 months of bad agents and greedy buyers we would have burned the house to the ground before compromising on anything.
Funny thing is, we did finally sell the house and it was to the same couple that had made the ridiculous offer, wanting us to leave many valuable assets with the property and less money too. I got full price for the house, paid no closing cost, and the buyer didn't ask us to leave anything with the property, except the house and land..lol. I did invite the buyer to attend an estate sale/auction to purchase any of the items he wanted to stay with the property but he was a no show on auction day.
Check your contract and the links below, good luck!
-- Edited by azrving on Sunday 21st of August 2011 09:36:57 AM
RVPAINTER said
09:50 AM Aug 21, 2011
There are some good realtors out there - few and far between perhaps but there are some good people. IMHO (and my house is on the market - 6 months now) up until the ecomomic melt down, the majority of realtors were taught how to fill out the required paper work and did not need "selling skills."
For all intents and purposes they were "ORDER TAKERS." They would show you where the property was and if you wanted to buy it they would fill out the required paperwork. NOW they do not know how to react to this economy as it now requires selling skills. Their standard approach is to merely try and have you do things such as lower your price in order to make a sale EASIER FOR THEM. There are a lot of bottom feeders out there trying to steal property and in this economy IMHO a large percentage of brokers do not know what they are doing or how to respond to this.
We have a good broker and have had a lot of showings - the bad economy is of no help and that is a big factor that can't be overlooked. If your home is in the correct price range - stay with the pricing you have!!!
You've received some good advice so far - perhaps a visit to an attorney could bring some results in the attempt to remove these deadbeats. As I say there are some good brokers out there - you have to search for them and hope for the best.
Luvglass said
10:44 AM Aug 21, 2011
I would suggest before talking to an attorney, identify the real estate broker you would like to work with and present your situation and see if they have any ideas as to how you can get out of your contract. It might be easier than you think.
Good luck,
kb0zke said
03:44 PM Aug 21, 2011
Lots of good advice here. In many, if not most, states the broker is the person who actually has the license. There may be more than one broker in the office, but the head person, at least, is a broker. In your case, with a small two-person office, they may well both be brokers.
You might try contacting the real estate licensing agency in your state and tell them what's going on (or not going on). Customer complaints are tracked, and if a broker starts showing a pattern of complaints, the license can be taken away. Often, a call from that office can really light a fire.
Remember that the real estate agent is working for the seller, because it is the seller who pays the commission. Often, the commission is split several ways, between the listing agent, the selling agent (the one who actually brought the buyer), and the listing agency. The listing agency may get a fairly large portion of the commission, because they provide all of the "back-room" services (telephone, fax, website, MLS membership, etc.), while the listing agent just fills out some forms. This encourages the listing agent to also be the selling agent, since then they get not only the listing commission but also the selling commission. That may be as high as 50% of the total commission!
RVPAINTER said
05:02 PM Aug 21, 2011
Also bear in mind that more often than not (rarely in fact) the listing agent DOES NOT SELL THE PROPERTY- it is another agent. One single agent lists the property but there are 100's of agents who have access to showing the property.
Ckerr said
05:34 PM Aug 21, 2011
As a licensed real estate agent in the state of Texas here's my 2 cents.
You are within your rights to terminate your agreement with your listing agent at your will -- at least in the state of Texas. I always explain this to my clients up front with something along the lines of "If at anytime either one of us becomes unhappy with our relationship -- either of us may terminate the agreement. All I ask is that you do me the courtesy of letting me know how I'm not living up to your expectations and then send me an email letting you know you are cancelling our agreement. I promise to do the same."
As the others have recommended, an honest conversation regarding the things you are unhappy with is always in order.
Also as NorCal Dan pointed out, any other realtor will need evidence that you are no longer have an active listing agreement with another agent before discussing listing your property. This is a requirement of the National Association of Realtors so applies across the board. In Texas I generally just check the MLS and make sure the listing has been terminated -- not withdrawn or temporarily off the market -- before pursuing further conversation.
Finally, as RVPainter pointed out, it is rare that the listing agent actually physically brings the buyer to the property. In fact, it is generally better for you if they do not. The listing agent should be representing you and you alone to get you the best deal. If they bring the buyer, those lines get muddied for everyone. Your listing agreement should detail how the commission is split between the listing and selling agent.
So by all means, if you truly do not feel like your agent is doing the best possible job for you, please do not suffer through the term of the agreement and let your frustration and resentment build. Have a conversation with the agent and if you still aren't happy, send an email or certified letter cancelling the agreement and setting a deadline for removal of the listing from the MLS. Then find a new agent. One who is realistic about the current market and the direction it's taking. If the market is continuing to fall in your area, and you really want to sell, you need to get ahead of that unattractive curve.
Best of luck!
TXRVr said
08:05 AM Aug 22, 2011
My DW was a real estate agent at one time and it's hard work especially trying to get two opposite sides to come to an agreement. Then there are the prospective buyers who bring along unruly kids who dump ice cream or spill drinks in the back seat of the car.
Her agency would not take a 3 month contract. They spent upfront money to list and market the property and didn't feel it was enough time to make a sale and recoup those expenses.
One suggestion on the contract. Read it all. You might find that there is a 30 day window tacked onto the contract period where, if you sell the house, the agent still gets a commission.
Ckerr said
06:17 PM Aug 22, 2011
TxRvr is right about both the amount of work selling real estate is and that period of time when the realtor still gets a commission.
My listing agreements always say that if someone who initially learns about the house during the time I have it listed, buys it within 180 days of the contract termination, I still receive my commission.
3fortheroad said
10:34 AM Aug 23, 2011
I wonder if agents are not working as hard because of the down turn in the market. They have to put out money that they may not see a return of for a year or more. I am not trying to defend the realators, I was also very disapointed in the results we were getting (NOT GETTING).
NorCal Dan said
11:07 AM Aug 23, 2011
Ckerr wrote:
TxRvr is right about both the amount of work selling real estate is and that period of time when the realtor still gets a commission.
My listing agreements always say that if someone who initially learns about the house during the time I have it listed, buys it within 180 days of the contract termination, I still receive my commission.
If the listing contract is terminated I doubt you could enforce the clause. And the cost involved to litigate would surely be more than the commission.
Ckerr said
10:12 AM Aug 24, 2011
NorCal Dan wrote:
Ckerr wrote:
TxRvr is right about both the amount of work selling real estate is and that period of time when the realtor still gets a commission.
My listing agreements always say that if someone who initially learns about the house during the time I have it listed, buys it within 180 days of the contract termination, I still receive my commission.
If the listing contract is terminated I doubt you could enforce the clause. And the cost involved to litigate would surely be more than the commission.
True enough Dan --- first you would need to know, then you would need to hire someone to enforce it... Generally a much more expensive prospect than the actual commission.
Not something I would be inclined to do, but fairly standard practice in my area.
We listed our house for sale with the same realtors that we bought the house through 13 years ago. We had a great buying experience and thought that they'd give us a great selling experience also.
That has not turned out to be what has happend. The realtors made us sign a 6 month contract giving them the exclusive right to sell our home.
We did all the upgrades they recommended and listed the house at the price point they said would sell.
Since listing, they have not done anything at all to push the sale of the house, they have not even brought a single client to view the house.
When we questioned them, the said that the reason there is not much activity on our house is because we (?!) priced it too high in a soft market hit by lots of forclosures and short sales. The recommended we drop the price by $20K, which we did.
We've had about 15 viewings by other realtors with no bites, not even a low ball offer. We questioned them about this and they said we had to drop the price by at least another $30K to be competative. In the mean time, there are new housing developments building within a mile or two of us, selling for more than we're asking. Hmm.
We want to break the contract, they are not performing at all, and we want to list with a larger, more aggresive realtor agency that has a steady stream of clients.
We are wondering if any of our RV-Dreams family has been through this and was successful in breaking a contract and re-listing. Any advice is apreciated!
When we sold our house back east, we let the realtor come up with the asking price, he still had the nerve (after the house sat on the market 6+months) to tell us the price was too high!
The realtor is required to market your house aggressively and you should be asking for proof of marketing. All of the local real estate magazines, internet, keeping the flyer boxes full, etc, this cost the realtor money & should motivate them to sell your house so that they can recoup their time/money. Many realtors will get the listing and let another agent make the sale; they still get a portion of the commission without doing the work. It's best to sign a 3 month contract, that way the realtor will usually be motivated to move the property quick. Our experience was the realtor didn't care what the seller wanted, seemed to us the realtor (the guy we hired) and the buyer would try to beat the seller down.
You can fire your agent; I know this because I fired three of them.
I was so disgusted with the whole process and the lack of professionalism that I insisted on calling all of the shots when I hired the last agent. I set the price on the house (considerably higher than it was originally), negotiated the commission, and even showed the house a couple of times when my realtor was unavailable. I made it very clear that the price of the house was not negotiable but the realtor by law had to present us with all offers, one guy even asked us to leave our boat, tractor, equipment, etc, and he still had the nerve to offer us less money for the house. The whole process can really make you bitter towards the agents and the buyers, been there done that. Our buyer would have gotten a much better deal but after 14 months of bad agents and greedy buyers we would have burned the house to the ground before compromising on anything. 
Funny thing is, we did finally sell the house and it was to the same couple that had made the ridiculous offer, wanting us to leave many valuable assets with the property and less money too. I got full price for the house, paid no closing cost, and the buyer didn't ask us to leave anything with the property, except the house and land..lol. I did invite the buyer to attend an estate sale/auction to purchase any of the items he wanted to stay with the property but he was a no show on auction day.
Check your contract and the links below, good luck!
http://www.ehow.com/how_4601133_fire-real-estate-agent.html
http://www.bing.com/search?FORM=WLETDF&PC=WLEM&q=can+you+fire+your+real+estate+agent&src=IE-SearchBox
-- Edited by azrving on Sunday 21st of August 2011 09:36:57 AM
For all intents and purposes they were "ORDER TAKERS." They would show you where the property was and if you wanted to buy it they would fill out the required paperwork. NOW they do not know how to react to this economy as it now requires selling skills. Their standard approach is to merely try and have you do things such as lower your price in order to make a sale EASIER FOR THEM. There are a lot of bottom feeders out there trying to steal property and in this economy IMHO a large percentage of brokers do not know what they are doing or how to respond to this.
We have a good broker and have had a lot of showings - the bad economy is of no help and that is a big factor that can't be overlooked. If your home is in the correct price range - stay with the pricing you have!!!
You've received some good advice so far - perhaps a visit to an attorney could bring some results in the attempt to remove these deadbeats. As I say there are some good brokers out there - you have to search for them and hope for the best.
Good luck,
Lots of good advice here. In many, if not most, states the broker is the person who actually has the license. There may be more than one broker in the office, but the head person, at least, is a broker. In your case, with a small two-person office, they may well both be brokers.
You might try contacting the real estate licensing agency in your state and tell them what's going on (or not going on). Customer complaints are tracked, and if a broker starts showing a pattern of complaints, the license can be taken away. Often, a call from that office can really light a fire.
Remember that the real estate agent is working for the seller, because it is the seller who pays the commission. Often, the commission is split several ways, between the listing agent, the selling agent (the one who actually brought the buyer), and the listing agency. The listing agency may get a fairly large portion of the commission, because they provide all of the "back-room" services (telephone, fax, website, MLS membership, etc.), while the listing agent just fills out some forms. This encourages the listing agent to also be the selling agent, since then they get not only the listing commission but also the selling commission. That may be as high as 50% of the total commission!
You are within your rights to terminate your agreement with your listing agent at your will -- at least in the state of Texas. I always explain this to my clients up front with something along the lines of "If at anytime either one of us becomes unhappy with our relationship -- either of us may terminate the agreement. All I ask is that you do me the courtesy of letting me know how I'm not living up to your expectations and then send me an email letting you know you are cancelling our agreement. I promise to do the same."
As the others have recommended, an honest conversation regarding the things you are unhappy with is always in order.
Also as NorCal Dan pointed out, any other realtor will need evidence that you are no longer have an active listing agreement with another agent before discussing listing your property. This is a requirement of the National Association of Realtors so applies across the board. In Texas I generally just check the MLS and make sure the listing has been terminated -- not withdrawn or temporarily off the market -- before pursuing further conversation.
Finally, as RVPainter pointed out, it is rare that the listing agent actually physically brings the buyer to the property. In fact, it is generally better for you if they do not. The listing agent should be representing you and you alone to get you the best deal. If they bring the buyer, those lines get muddied for everyone. Your listing agreement should detail how the commission is split between the listing and selling agent.
So by all means, if you truly do not feel like your agent is doing the best possible job for you, please do not suffer through the term of the agreement and let your frustration and resentment build. Have a conversation with the agent and if you still aren't happy, send an email or certified letter cancelling the agreement and setting a deadline for removal of the listing from the MLS. Then find a new agent. One who is realistic about the current market and the direction it's taking. If the market is continuing to fall in your area, and you really want to sell, you need to get ahead of that unattractive curve.
Best of luck!
My DW was a real estate agent at one time and it's hard work especially trying to get two opposite sides to come to an agreement. Then there are the prospective buyers who bring along unruly kids who dump ice cream or spill drinks in the back seat of the car.
Her agency would not take a 3 month contract. They spent upfront money to list and market the property and didn't feel it was enough time to make a sale and recoup those expenses.
One suggestion on the contract. Read it all. You might find that there is a 30 day window tacked onto the contract period where, if you sell the house, the agent still gets a commission.
TxRvr is right about both the amount of work selling real estate is and that period of time when the realtor still gets a commission.
My listing agreements always say that if someone who initially learns about the house during the time I have it listed, buys it within 180 days of the contract termination, I still receive my commission.
I wonder if agents are not working as hard because of the down turn in the market. They have to put out money that they may not see a return of for a year or more. I am not trying to defend the realators, I was also very disapointed in the results we were getting (NOT GETTING).
If the listing contract is terminated I doubt you could enforce the clause. And the cost involved to litigate would surely be more than the commission.
True enough Dan --- first you would need to know, then you would need to hire someone to enforce it... Generally a much more expensive prospect than the actual commission.
Not something I would be inclined to do, but fairly standard practice in my area.