Realtors, listing contracts, finding buyers?

[Daisy7777]

Hello,

We have a rental property and reluctenly listed it with a realtor for 6 months. She swore up and down it would sell with the tax credit and PCS season. We figured if it did not sell in the first 2-3 month we would just rent it out again. Well it did not sell in the first 2-3 months and the for sale sign out front is scaring away any potential tenants because they don't want to move in just to move back out again (which is unlikely to happen in this market) We are not looking to just dump the property cheap because it does have nice rental cash flow. Is there any way to cancel the realtors contract? Or should I just request the sign come down?

Also, If we find a buyer on our own maybe somebody wanting to rent to own while it is listed with a realtor I don't want to pay a comission for an ad and interviewing that I did.

I guess we are just stuck waiting out the 6 month listing. lesson learned

 

[Bobby J]

Hello,

We have a rental property and reluctenly listed it with a realtor for 6 months. She swore up and down it would sell with the tax credit and PCS season. We figured if it did not sell in the first 2-3 month we would just rent it out again. Well it did not sell in the first 2-3 months and the for sale sign out front is scaring away any potential tenants because they don't want to move in just to move back out again (which is unlikely to happen in this market) We are not looking to just dump the property cheap because it does have nice rental cash flow. Is there any way to cancel the realtors contract? Or should I just request the sign come down?

Also, If we find a buyer on our own maybe somebody wanting to rent to own while it is listed with a realtor I don't want to pay a comission for an ad and interviewing that I did.

I guess we are just stuck waiting out the 6 month listing. lesson learned

Kind of a touchy subject but you surely could remove the sign. Signs don't sell properties in a buyers market. Price sells. More then likely you are over priced. If I were your agent I would hope you would call me and ask to get out of the listing.

 

[Em]

I would refer back to your listing agreement, which should spell out whether or not the Realtor can market the property via signs, etc. Also, it should spell out the terms of canceling the listing agreement. I don't charge my customers anything for terminating a listing agreement prior to the contract termination date, though I'm sure that every Realtor is a little different.

 

[Babyblue]

Hello,

We have a rental property and reluctenly listed it with a realtor for 6 months. She swore up and down it would sell with the tax credit and PCS season. We figured if it did not sell in the first 2-3 month we would just rent it out again. Well it did not sell in the first 2-3 months and the for sale sign out front is scaring away any potential tenants because they don't want to move in just to move back out again (which is unlikely to happen in this market) We are not looking to just dump the property cheap because it does have nice rental cash flow. Is there any way to cancel the realtors contract? Or should I just request the sign come down?

Also, If we find a buyer on our own maybe somebody wanting to rent to own while it is listed with a realtor I don't want to pay a comission for an ad and interviewing that I did.

I guess we are just stuck waiting out the 6 month listing. lesson learned

Where is your place?

 

[Daisy7777]

The rental in in Navarre about 1 mile from the beach and about 3 minutes to the new Wal Mart.

We priced the place very competively. It is on 1 acre and we priced it to similar properties on 1/2 acre or even 1/4 acre.

Again we are not looking to just "dump it" and lower the price so much.

I'll ask the agent about removing the sign.

I don't wnat to hurt her feelings, she seems like a nice person but letting the place sit vacant isn't helping either.

 

[Ari Silverstein]

I'll ask the agent about removing the sign.

I don't wnat to hurt her feelings, she seems like a nice person but letting the place sit vacant isn't helping either.

Unless it is a violation of your contract with her, tell her you are going to rent and that any sale will be subject to the Lease Agreement in place.

If I am your Lessee, I am going to demand the sign be removed and no showings of the house until the last 30 days of the LA.

Your Agent will/should know this and either will stand firm to her/your contract obligations or mutually agree to cancel your listing contract.

This is business. Corral your feelings.

If you are that concerned with how she is feeling, give her a "gift". She'll feel just fine then.

 

[Ari Silverstein]

I would refer back to your listing agreement, which should spell out whether or not the Realtor can market the property via signs, etc. Also, it should spell out the terms of canceling the listing agreement. I don't charge my customers anything for terminating a listing agreement prior to the contract termination date, though I'm sure that every Realtor is a little different.

I have put into mine a stipulated sum that covers any out of pocket costs for an early termination.