Legal Question in Real Estate Law in New Jersey

Breaking a contract with a realtor

What legal obligations do I have with a listed realtor when selling a house. I feel our agent is not doing their job of showing our house and is continually trying to get us to reduce our price for a quick sale. We are only asking what we originally paid for the house which is only 4 years old.


Asked on 5/27/00, 8:22 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Breaking a contract with a realtor

If you signed an exclusive listing agreement - you should be bound for its term - usually 90-180 days. However, if you truly believe that the broker is not properly representing you, you can complain to various realty boards or speak with the broker and terminate the listing.

You should be aware that with interest rates rising, this effects the sales price due to mortgage requirements of prospective buyers.

What are the comparables in your area for your type of house? The broker should have provided these to you. Are the original prices holding, or possibly gone down due to rising interest rates.

If you want to talk and get more information, call me at (973)-377-3313

Walter

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Answered on 7/07/00, 11:35 am


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