Here in Illinois we are referred to as the ‘Managing Broker, Only Managing Brokers have the right to cancel a listing agreement in Illinois. Just think of them as the company.
Barrington, IL (PRWEB) July 25, 2015
Corinne Guest, of Barrington Realty Company, asks, and answers, a question that comes up a lot in the real estate world: “Can I fire my listing agent?” The answer, Corinne writes in a new post, is never a simple one.
“In general, the answer is no. However, every state has different laws in real estate so sellers should always seek information in their own state,” said Corinne. “That said, it’s not difficult to answer the question … because you should have a written agreement, aka contract, when you listed the property and somewhere in the legalese there will be reference to cancelling or terminating.”
Corinne, in the post, adds that you cannot fire a listing agent and be released, which is one of the most misunderstood things in listing a property from a seller’s perspective. She said, “You are not listing with an agent; your legal agreement is with the brokerage.” Therefore, the listing agent cannot legally agree to withdraw from the agreement, only the brokerage can, which usually means the company’s broker of record.
“Here in Illinois we are referred to as the ‘Managing Broker,’” said Corinne. “Only Managing Brokers have the right to cancel a listing agreement in Illinois. Just think of them as the company.”
As for Corinne, Managing Broker of Barrington Realty Company, she offers her clients the option to give 30 days’ written notice before terminating with her, or vice versa.
“You list with me, you are only ever tied into the contract for a maximum of 30 days,” said Corinne. “So if our relationship cannot stand the test of even one day, I am not going to make (both) our lives miserable.”
About Corinne Guest, Barrington Realty Company
Corinne understands that every client has unique requirements and circumstances and that while the real estate process is a well trodden path, the journey to achieving a successful transaction will be different each time. Flexibility in being able to adjust schedules, combined with a high level of responsiveness to changing needs, are essential elements that enable Corinne to provide her clients with the very best level of service and support. For more information, please call (847) 363-3686.
The NALA offers local business owners new online advertising & small business marketing tools, great business benefits, education and money-saving programs, as well as a charity program.
805.650.6121, ext. 361