Do you offer EASY EXIT listing agreements? - I do, and I would not list a home without one. I highly recommend that all sellers ask their agents if they offer this type of "escape" clause with their listings. My reasons are simple, many times a seller realizes they have made a mistake with their agent, or the agent is not living up to the agreed upon verbal commitment. But the number one reason I have seen for this to be asked for is for listings that are improperly listed and the sellers do not have an out, or at least they do not think they have an out.
I implemented this very simple one page document several years ago when my mentor told me it is the best thing you can ever do for your clients, "let them know that they have rights and can fire you if you do not perform"! I have had several listings over the years that were "another" agents listing, the listing expired or was withdrawn and I was called in to interview by the seller. I have also been asked during the listing period by friends or acquaintances that are using another agent to list their if I "would mind taking a look and giving my professional opinion". I always respond with " I am happy to do that when you done with your current agreement and if you do not have an out clause you will have to wait until the agreement expires.
OK I will admit several years ago one seller was desperate and his fiance' had already been relocated and he had a 9 month listing agreement with his agent. This was at the peak of the market when all you had to do was put a sign up and the house had three offers before you got back to the office. This particular development did not allow signs and the listing agent had listed the home as a 2-bedroom. I researched the comps and told the sellers girlfriend that it appears to be a one bedroom, not a two bedroom as listed, would that be correct? She said "yes, but the agent has had over 90 showings and refuses to change it, because he is afraid the showings will really slow down" and the boyfriend agreed, along with convincing the seller that he just needed more price reductions! OUCH!!!!
I said my advice to you (the girlfriend) is to have the agent change the listing to a one bedroom. She recommended that, but no avail. A few months went by, the listing expired and I re-listed the home as a one bedroom at original list price and only had 4 showings in two weeks, but I had two competing offers and got the seller 4% over asking price. I also offered my EASY EXIT Listing agreement which made him feel very good knowing that he could fire me at any time.
Moral of this little story is two-fold: 1st- Sellers make sure that your agent is marketing your home to the target audience, if all your showing me is 42 longs and I am shopping for a 54 regular, I will never buy from you.
2nd- Make sure you have an out when listing your home for sale, know your rights as a seller, life happens and things change, CYA if your agent wont cover it for you.
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