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Can you Cancel? Listing Agreements.

By Jeremy Gryvatz

Real Estate Agent with RealWorks Residential Brokerage

November 29, 2010 02:52 AM

Some agents are hesitant during listing presentations to offer a cancelatiion policy on their listings. There are several reasons why I think this is wrong and several reasons why i think it is right.

Legally a listing can terminated under the following circumstances:

Broker has performed duties to fullest

The contract has expired

Revocation by the owner

Cancelation by the broker

Mutual cancellation

Bankruptcy or death of either party

Destruction of listed property

Change in property by government (zoning)

Som agents wont offer out the cancellation policy and it begs me to suggest this scenario..

Lets say your client decides he changed his mind and this upsets you as the listing agent. Are y ou going to force your customer to honor the listing? Do you really want to be brokering a home sale for a customer who sees this as a hostile act? This kind of defeats the purpose of having a client relationship doesnt it?

I offer a cancellation policy to almost every listing because it exudes confidence in my ability to satisfy their needs to the point that I'm willing to let them walk away if their not happy with the service or results. If we as agents remain protected for some time after the cancellation, then we should be confident in our ability to execute what we have promised to begin with according to the listing agreement.

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Kathy Denworth

BHHS Keys Real Estate - Islamorada, FL

Realtor in the Florida Keys, Islamorada, Key Largo

C21 offers a Seller Service pledge which requires we perform to a standard or they can complain. The company has 10 days to solve the problem or they get their listing back.

I agree, I don't want an unhappy seller. I will take it our the the MLS and leave it in the drawer until it expires.

Nov 29, 2010 03:00 AM

Dennis Duvernay Broker/Owner

Hillview Realty - Northbridge, MA

Jeremy, 99% of the time I will cancel a listing if a seller request it...I feel if they are not happy with my services then we should not be working together and I am more than happy to let them move on...needless to say I always try to talk with the client to see if we can work out any issues but if I see it is going no where then it is time to cut ties.....

Nov 29, 2010 03:02 AM

Nick Tukmanian

RealWorks Residential - Colts Neck, NJ

Great post, Jeremy. I think agents should offer more flexibility in that regard. That being said, some exceptions exist.

For example, depending on the type of agent you are (what you put in to sell a listing in terms of time and marketing), you may have incurred costs that may never be recouped. Sure, if a seller changed his/her mind altogether about selling their home, then it's a no brainer, it's off the market.

But what if you don't know true intentions of seller, maybe he/she is now going to list with another agent because their dog doesn't like you. You've invested time, energy, and money, and they may list with another agent and sell their house in 30 days.

I think a more balanced approach is what's needed, and I agree that the agent should have the freedom to make that decision.

Nov 29, 2010 06:15 AM

Antonio M. Cardenas Broker Associate

RE eBroker Group - San Leandro, CA. - San Leandro, CA

"The Realtors In Motion"

I totally agree with you Jeremy, we should be able to retain the client in the future if we let him/her go whenever they want. The hostile act of keeping the listing when the principal is does not want that is simply a bad recipe for a professional relationship. Thanks for the post.

Antonio

Nov 29, 2010 11:24 AM

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Jeremy Gryvatz

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