Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Agent
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Sharon McKey
2
Votes |
5
Posts

Can seller terminates the listing agreement before it starts?

Sharon McKey
Posted

I have a friend (seller) who needs some advice from you guys:

Situation: Seller (in TX) signed listing agreement with an agent two months ago (in SEP) to sell his property once the tenant family moves out by end of NOV (still a month away as of today) based on the current lease. The Tenant recently shows interest to purchase and has worked with her agent referred lender for a promising loan. The buyer reached out to the seller directly to ask to lower the sales price. Seller agrees but with a condition - 50% off original commission. This means seller will need to terminate his side agent and he and the buyer both use the buyer's agent for the transaction. Note that seller's agent has not been in touch to follow up with him for over a month since the listing agreement was signed. He is not happy with this.

Questions:

1) On the listing agreement, it says the MLS listing will start after tenant moves out and the photos of the property have been taken. Since the house is not on market yet and therefore nothing has been done by the seller's agent at this point, can the seller terminate the listing agreement with his agent?

2) If the answer to 1) is Yes, can you advice the seller what's the proper way to do this - contact the agent first to let her know he wants to sell the house himself and wants to be out? contact broker? or keep silent for now (wait until the agent reach out first and tell her)?

Your advice is greatly appreciated!

Loading replies...