CANCEL MY LISTING!

By
Real Estate Broker/Owner with Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management 01490605

This week, not one but 2 agents in my office have come to me after being approached by sellers.

The Sellers are not asking my agents to cancel thier listing, instead they are asking my agents HOW they can cancel the listing they have with another agent.  They have a year long short sale listing... with no apparent way out.  

YIKES, this is a slippery slope.  RESPA, don't interfere with another agents client.  Cancel my listing

Advise:

Call your agent and let them know you are not happy.

RESULT - the listing agent is NOT answering the phone, they won't call me back, they aren't doing anything.. that is why we want to cancel.

CALL YOUR AGENT:

RESULT - I called Bank of America, and despite signing a buyers purchase contract 14 days ago the contract has still not been uploaded to Equator.  BofA rep told "me" to find another REALTOR.  I got my OWN Foreclosure postponed, since BOFA has no record of speaking to my agent.  PLEASE HELP ME!

BTW_ NO MARS agreement signed on the above short sale.

I called California Association of Realtors Legal department to ask the question.... "When can a seller cancel a listing agreement?"

Answer - WHEN TERE HAS BEEN A BREACH OF CONTRACT.  A breach can occur when the listing agent is not doing the job they were hired to do.  Listing not in MLS, offers not presented, agent not working the Short Sale.....

What do YOU THINK?  When can a seller cancel a listing agreement.  

Comments (7)

CA COASTAL ESTATES Lauren Selinsky Perez CRS
California Coastal Estates - Aliso Viejo, CA
"Your Real Estate Broker" #oclauren

He wasn't paying his mortgage either! So, he /she didn't care how long it took until they started getting the foreclosure notices.... I have had many clients push the system as far as they can! REGARDLESS, SHAME ON THE AGENT!

SUGGEST>>>

Apr 10, 2012 03:58 PM
Susan Goulding
Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate

Lauren - true, seller may or may not have been paying his mortgage, however, the agent hired still has the duty to do the best they can for the client they have taken on.  THanks for the Suggest...

 

Apr 10, 2012 04:08 PM
Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home

Always read the details and the fine print! It is a hobby of mine.

Apr 10, 2012 05:00 PM
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

Never interfering is great until the client misrepresents or worse and you think you are following the rules precisely to later have the other agent jump out of the woods and cry foul.

Apr 10, 2012 09:05 PM
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

When the seller calls you, it is not intereference and yes, you can talk to them.

 

Eve in Orlando

 

Apr 10, 2012 09:07 PM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I see this happen all the time. Sellers put zero effort into choosing an experienced agent, then want to complain. Many times it is obvious from from what the agent ters into the MLS that from day one that the property has no chance of selling. It is either way overpriced, or way underpriced with zero chance of lender approval. I had an agent call me recently asking me how to list a short sale. I did tell her everything I knew and what most lenders expect to net in this area. She still entered it differently that I would have done it, but I think she will figure it out as she goes. If those owners initiated contact with your agents, then they are allowed to meet with those owners and even sign a listing agreement with them.

Apr 10, 2012 09:23 PM
Dale Bledsoe
Crown Key Realty - Tracy, CA
Realtor in Tracy, California

This is like De ja Vue all over again. We used to complain that it was the banks that seemed to take their time and make the Short Sale process a miserable thing. Now the banks are speeding up and their are agents gumming up the works. 

Apr 11, 2012 02:17 AM