As a seller a friend of mine is cancelling the contract with his agent. The agent has given the CAR form “Cancellation of Listing” and checked boxes 1a, 1b, and 3. It was a 4month contract with 3months remaining. 1a is very concerning. It says seller cannot sell for the remainder of the contract. How to get out of that? Is it even fair for LA to ask that? They also asked to compensate all expenses until now (#3 on the form) which comes close to $2000.
Any chance that this was Coldwell Banker?
The answer to your question depends on the listing agreement that was signed. Coldwell Banker used to have a very aggressive listing agreement.
Indeed Coldwell Banker. My friend didn’t research much before going to them. Should we threaten to go to small claims court if they refuse to budge? That 1(a) clause says that the seller cannot sell, or even rent the property for next 3 months. Crazy.
weird, is it a friend or is it you. Anyways.
I once requested a listing cancellation and the listing was with Coldwell Banker. The agent whom I wanted to give the listing to was aware of CB’s aggressive listing agreements, and would not take the listing unless I got a “full release” from CB.
Don’t feel bad for not catching this when you or your friend signed the listing agreement. At the time, I had been licensed myself for 4 years, and I had not paid attention either!
Yes, you can threaten to go to small claims court. Will you be successful? I don’t know - what is your reason for the cancellation?
Will a court decision happen before this selling season is over? 3 months from now is August. For many markets this is too late in the year (houses that would be marketed to families with children who attend a school).
Time is not on your side.
Thankfully not me. I bought my first SFR in 2017 in Milpitas. I remember getting advice from you on foundation issues (pre-existing and disclosed). I got those fixed, and no plans on selling anytime soon. CB wants full reimbursement of out-of-pocket expenses. They did agree to remove 1(a). My friend agreed to it. Bulk of their expenses of $1200 was for newspaper and TV ads. Seems a waste of money, but not much sellers can do. Thanks for all the advice. My friend is frustrated that the agent is just a paper pusher. No drive or skill to negotiate and make things happen. Couple of deals fell through when all she did was act as a messenger. For that type of service, paying 2.5% seemed too much.
The industry is set up like this