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  1. #1
    Join Date
    May 2008
    Los Angeles, CA

    Default Terminating an Agent

    My question involves real estate located in the State of: California

    I called an acquaintance to list a property, I worked with her briefly and found her to be honest, efficient and hard working (agent 1). She brought a "partner/trainer" to help her with her first listing in California (agent 2). I signed a six month contract with both of them.

    Agent two convinced us to list other properties. Afterwards we realized that we wouldn't have enough to pay cap gains and withdrew the other listings.

    Agent 2 sent an agreement that they would not list until all pertinent financials were submitted. I agreed. Thereafter began a delay game of, we need more details before we list, we need 3 years of utility bills, now we need water and electric separated, etc. I told them they should have asked all this from day one, agent 2 insisted the listing was complex. After 17 days I demanded they list the property, they did. Within 24 hours we received a low bid.

    Agent 2 hard balled us to sell much lower that what I told her we were able to sell to be profitable, and tried to fast talk us into paying 1.5 towards closing, not as a dialogue, but as a quick closing comment, "lets do 1.5 towards, closing! bye". Hangs up.

    At this point I'm not trusting anything agent 2 says, but I'm still comfortable with agent 1. I asked that they withdraw the listing, and that agent 2 be removed from the contract and that is not to represent us in any sale. Agent 1 said they would do this. It's been 7 days, and they have not withdrawn the listing.

    I have corrected listing information by telling which mortgage rates make the properties more appealing, I have found data that justify my asking price, I'm at the end of my patience with agent 2 and her slick ways and i want her off this listing.

    What are my options? The contract says we can go into arbitration for any dispute.

    I believe Agent 2 is not meeting her fiduciary duties of reasonable care (I had to direct them to listings that justified my asking price) Obedience - had to twice demand the listing be posted to the MLS and now they won't pull the listing but they tell me that they will, Disclosure/Loyalty - Agent 2 asked me to let her list properties internally without explaining this would limit the buildings exposure, i declined.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Terminating an Agent

    Talk to your friend and see how long it will take to get a revised contract without the other agent.

    If you want us to tell you that arbitration will be fast, inexpensive, easy, amicable, or help you get your house sold more quickly, sorry but I can't promise any of that. I expect the opposite.

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