how to end listing contract?

[Bill Keegan]

Originally Posted by alysen56

In NJ I understood listing agreements were just that- an agreement- not an actual contract - so that a seller could always opt out for any reason whatsoever- can anyone tell me positively that the information I received is wrong?

It's an agreement to sell your house and to get paid for doing so. It's enforceable as a contract. But you can still opt out, if by opt out you mean not sell your house. No one is going to force you to sell the place. Simply explain to the agent that you have decided to not sell, and they'll pull it off the market. If, however, you want to list it with someone else, or try to sell it to someone without paying the broker the fee, then you are going to need what is called an "unconditional release" from the contract.

[alysen56]

I am so surprised! Excerpt for Essentials of NJ Real Estate (what they use to teach here) says listing agreements can be terminated for any number of reasons including such vague concepts as "Broker performance" - lack of "care", etc-I got vehement denials even from my own board that any listing agreements could be terminated prior to the termination date but apparently they were wrong- who knew! An attorney I asked said not contract can be enforceable unless it has clearly defined terms for termination? Also, what can a broker sue for? Unless there was an offer that was 0presented what is he out? Advertising, etc? Can't sue for time since unless there was an accepted offer- the listing could expire and he would get nothing anyway- his risk- anyway reality is I would not want a former client bad mouthing me as an agent- or being antagonistic or uncooperative I am too good to create that kind of scenario- If a client and i cannot work together for whatever reason I would make sure I documented ANY agents and/or clients who showed the property while I had it listed and wish them well- who knows they may decide they were better off with me!

[Leavethetable]

This thread should be moot now...see original post date...2008