| A friend stopped by today looking a bit down. When I | | | | Tell the agent that you expect some showings, or in a |
| asked him what was up, he started telling me about his | | | | slow market, good communication. If your agent is not |
| house, and the fact that it has been on the market for | | | | available or refuses to return your call... go to the |
| a while without any offers. | | | | broker of the firm. |
| "They're telling me it's a hot market and my price is | | | | Then, give them a week to get on track. If you're still |
| right, but nothing is happening." He's asking $299,000 | | | | unhappy, call back and tell them you are cancelling the |
| and a local builder told him it would cost $300,000 just | | | | listing and you'll be in to pick up their signed release. |
| to replace the house. Never mind the panoramic view | | | | This is an important point. Do not withdraw your listing, |
| or the ten acres of old growth trees behind the house. | | | | because that signifies that the house is merely going |
| So what's wrong? He listed with a major franchise | | | | off the market. If you sell it yourself or list it elsewhere, |
| chain and a top-selling agent. BUT that agent has been | | | | you will still be bound to paying a commission if the |
| on vacation for the past month. | | | | purchase agreement happens prior to the last day of |
| Everyone knows that agents get a commission even | | | | their listing. |
| if they sell another agent's listings. But they get half...and | | | | If the broker refuses to let you out of the contract and |
| generally have to share it with the office. In a hot | | | | you feel you have good cause to cancel, call your |
| market they may not need to go beyond showing their | | | | state Board of Realtors. They should be able to help |
| own listings. And if they do, they'll show the ones | | | | you without you needing to pay an attorney. A listing IS |
| closest to the office. That was the other mistake my | | | | a binding contract, but if one party refuses to act in |
| friend made: listing with a firm more than 20 miles from | | | | good faith, the other one does have a right to break |
| his home. Even his own agent will show the easiest | | | | the contract. |
| listings first. Laziness is an unfortunate part of human | | | | The two most important points to remember are the |
| nature. | | | | word cancel and the signed release. Without those, |
| What can my friend do? Fire her. But carefully. | | | | you could end up paying a double commission. And |
| If you, as a seller, are unsatisfied with the service | | | | nobody wants to pay someone for not giving service. |
| you're getting, the first step is to call the agent and | | | | One last word: don't try to fire your Realtor if they've |
| state your concerns. Ask to see what's been done to | | | | been giving service but you happen to stumble over a |
| sell your house, how many showings they've had, | | | | buyer on your own. It's dishonest, unethical, and the |
| what the buyer comments have been, and if they | | | | money you save isn't worth the price of knowing |
| have any recommendations on price, minor repairs, etc. | | | | you've been a cheat. |