Check with your brokers and local state law first!!!

This is a clause I developed and have all of my agents put into their listing contracts. I just responded to a dear woman who was cheated by a dishonest seller who wanted out of her listing for a "better deal". Remember, a contract is an agreement between TWO OR MORE people, therefore, both or as many parties as there are to the contract should have obligations and something vested.

 

"In the event the Seller opts to withdraw or cancel this listings, the Seller agrees to reimburse the listings agent/Brokerage for all actual expenses incurred during the process of marketing the property. Including, but not limited to: printing, advertising, sign delivery, open house, and reasonable photography and marketing expenses. "

Cheapies think twice about wasting your time when they have THEIR money to lose instead of just yours. I've never had to enforce this, and I've never had a client refuse to sign it or question it's fairness. It's pretty simple and fair to everyone.

HAPPY HOUSE HUNTING! Lania

 

7 Comments on Helpful Listing Clause

MAY
21
2007

Bravo!  Great job Lania.  I'm adding this to my collection.

Happy Sales,

Karla Woods http://www.agent-connection.com

7:07pm • #1
1 Featured Post

Lania,

That's good... You could also have a retainer fee at the time of listing. In AZ, we have that box on our listing forms - for just this reason. Sellers want the cover of PHX Home & Garden Magazine, they should be willing to pay a retainer...

7:13pm • #2

Good idea.  However, here in Florida our Florida Association of Realtors contract already includes that clause: "If Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct expenses incurred in marketing the Property and pay a cancellation fee or $_____ plus additional sales tax".  That pretty much covers it for us.

7:16pm • #3

Yep, Illinois already has that right in the general board contract as well.  In the last 4 years, I've only used it once.

 

http://www.agenthill.com

 

http://www.homesinnorthernillinois.com

 

7:34pm • #4
119,244 Points Outside Blog
I'm in Florida, too, and my office takes advantage of the cancellation fee. 
9:50pm • #5
MAY
22
2007
3 Featured Posts

Thanks for feedback guys. Not in Colorado...we have to fend for ourselves out here in the wild, wild west! Lania

9:11am • #6
MAY
23
2007
201,820 Points 6 Featured Posts Outside Blog

Lania,

it is allowed here in NC and I think it is a good idea to hold the seller accountable if they change their plans after we have laid out hundreds for advertising expenses.

Ginger

10:08pm • #7

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Lania DeMers, Broker Rocky Mountain Realty Co.

Colorado Springs, CO

More about me…

Rocky Mountain Realty Co.

Office Phone: (719) 638-5858

Cell Phone: (719) 232-5941

Email Me



Links

Archives

RSS 2.0 Feed for this blog

Find CO real estate agents and Colorado Springs real estate on ActiveRain.