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The Way to Terminate a Real Estate Listing Agreement

A listing agreement is a contract between a real estate agent and a vendor. The arrangement allows the broker to list the house for sale and also do everything possible to market the property, such as setting up advertisements and holding open houses. If you aren’t pleased with your broker, it may be possible to cancel the listing agreement, fire your broker, and find another person to sell your property. Or, you may want to cancel a listing agreement and wait patiently before putting your house back on the market. Many brokers are eager to terminate listing arrangements for a good reason.

Re-read the listing contract that you signed with your broker. Start looking for verbiage such as”cancellation” or”termination.” Many contracts enable the seller, you, to cancel the listing provided that the agent agrees to cancel it.

Look at the contract for any penalty charges that are required. Some brokerage firms require a buy-out fee or for the vendor to pay the agent’s out of pocket expenses for his previous work advertising the property. No expense reimbursement is required by other companies.

Write a letter to the broker and the broker. State the reasons why you want to cancel the listing agreement. Should you have to pay a penalty fee, add the fee at the correspondence. Send the correspondence as”Certified Mail” to make sure that both parties receive the letter.

Contact the broker after she receives the letter and make sure your listing has been terminated.

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