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Home Q&A Forum Can a seller terminate a Residential Listing Agreement before the agreed-upon period ends?
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Real Estate

Residential Listing Agreement

California

Asked on Oct 3, 2024

Can a seller terminate a Residential Listing Agreement before the agreed-upon period ends?

I recently entered into a Residential Listing Agreement with a real estate agent to sell my property, but I am now considering terminating the agreement before the agreed-upon period ends. The agent has not been able to generate any offers or interest in the property, and I am concerned about the lack of progress. I want to know if I have the right to terminate the agreement early and if there are any potential consequences or obligations I should be aware of.

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Answer

Real Estate

California

Answered 32 days ago

Dolan W.

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Business Lawyer
Licensed in California
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September 8, 2024

Hello! I'm so sorry you're having to deal with this. Legally speaking, most real estate agent agreements generally state you must pay their commissions even if you terminate the relationship, typically up to 6 months after the termination of the relationship. In theory, you have a breach of contract action if this person has not done any actual work or generated any offers or any interest in the property. This would likely make the agreement "unconscionable" in this case. So what does this mean? It means your best option is to negotiate the termination How do you do that? One little-known, but very effective tool that lawyers use to settle matters outside of court is called principled negotiation.  All this means is that you are looking to get something done on the basis of principles, even if you can’t find a law to support you.  It takes the anxiety out of dealing with the other side because you’re focused on the facts, not each other.  With that said, here are some simple steps you can follow: Figure out what the other side’s interests are (saving money, saving time, etc.?); Think about what your interests are (saving money, saving time, etc.?); Come up with 2 to 3 reasonable and objective ways to solve the problem; Present it to the other side; If the other side rejects, ask them, “Is there a reason why you do not feel it is necessary to negotiate?” Consider what your best alternative to a negotiated agreement is.  This will give you confidence that no matter what, you'll have an option. Of course, these are just building blocks to get the other party to help solve the dispute.  Believe me when I say that good lawyers use this technique all the time to keep things out of court.  You’ll find that it is very effective even with the most stubborn of individuals. Best of luck! Dolan

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