Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got a quick video on cancelling your listing agreement.
Read The Contract Again
- Termination or cancellation clause
- Safety or Protection Clause
- Termination Fees
- Reimbursements? – For advertising
- Grounds for termination
- *Agent Dissatisfaction
- *Refresh The Listing
- *Property Upgrades
Talk It Over
- You can skip this if you feel you've already given our realtor enough chances
- Poor communication?
- Explain where you are with this relationship
- Lay out what needs to change or improve
- Hear out your realtor – are they polite? or rude?
- This is a great opportunity to see how professional they are.
Cancelling Your Listing Agreement
- Get it in writing!
- All parties must sign the cancellation documents. After the signatures are obtained, the listing is considered cancelled, the Multiple Listing Service entry is withdrawn, and all advertising ceases. Keep all copies of the cancellation agreement in case problems arise in the future.
- If agent refuses, contact their broker
- (rare) If broker refuses, ask to be reassigned to another agent
- Worst case – involve a real estate attorney
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
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