Technically it is the brokerage that you are contracted to and not the agent. You can ask your listing agent to terminate the listing and ask for listing cancellation form 242 that needs to be signed by the agent's broker of record.elty wrote: ↑ I was whining to my friend about my house not attracting offers and I am going to drop the price. However he told me I should just change the listing agent - he had a similar situation before and he just "cancel" the listing agreement with his old agent and get a new one.
However I read the form several times and it doesn't seems to provide a way for me to unliterally "cancel" it before the expiration date (it clearly said "irrevocable" afterall). I google it a bit and I think the form 200 can only be terminated upon mutual consents. If I simply "find someone else" I may owe the original listing agent the commission (if I sell it with another agent) and/or any expense he incurred when trying to sell mine.
Is my understanding correct? For a property that doesn't attract offers dropping price seems inevitable? I think my price is reasonable, but if the market disagree then it is what it is.
Yes you are correct, but unless you and your agent are at each other's throats, 99.5% of brokers will release you from your obligations under your listing agreement and sign the cancellation. I have come across someone who had a brokerage refuse and ignore his requests because they had such contempt for each other. He let the listing expire before looking for another agent. Always be polite in your discussions and send emails wherever possible (to document). If that doesn't work you can reach out to RECO.
