I asked my Real estate agent if there was any cost to cancel the contract between us…read more
Here is my email sent on March 30th at 3:39 pm. She had me correspond via her private email as she told me her agency email had been, shut down.
"Hello, Xxxxx, I hope this message finds you in good spirits.
As my financial status is very limited, I might not be able to sell for some time (a couple of years) If I was unable to meet our current contract, such as canceling, would there be any financial obligation on my side?
Raven."
Here is her reply April 1st at 9:12 pm.
Hello Raven,
Strictly speaking, since you are not following through with listing and selling within the agreed upon contractual period, you owe the Team $200 for the contractor work and $125 for the professional photography.
However, as for what you owe me, I ask you to sit back and reflect upon all of the professional advice, networking, marketing, time, energy and focus that I provided for you since you first contacted me in July. If you consider that it was only 10 hours per month at minimum, how does that add up for you? What am I worth to you? Do I deserve compensation?
This is precisely why it is easier to say that I typically get paid when you sell your home. If you are planning to list in the next year or two, great! Let's keep in touch and list when you are ready. If you are planning to try and sell it on your own, then I would like you to really reflect and let me know what you think my services are worth to you.
I have appreciated the opportunity to get to know you, and represent you in the attempts to sell your home. I hope to work with you in the future.
Cordially yours,
~Xxxxx Xxxxxx~
I needed to ponder, what can I afford. The fraudulent buyer ruined me financially. I had to break the lease on my apartment and take out a loan to move back into my home. I was already reeling from the effects of the stress and trauma from the fraud committed by the buyer. I was depressed and struggling. I needed to consider canceling so I could have some space to recover (a year or two).
I had decided to ponder what I wanted to do? This may cost me and I might need to not cancel the contract and figure out a way to negotiate for the reposting of my home later.
And then I get this email. On April 9th, 2019.
Good afternoon Raven,
After considering your question regarding my fair compensation a little longer I realize it was unfair of me to leave it open ended and ask what I am worth to you. Instead, I will make it a little easier for you, and paraphrase our contractual agreement. I have attached a copy of our contract in case yours is packed in a box somewhere.
In the contract you signed on page 2, section 8 under Right to Compensation it states that you shall pay the sum set forth in section 5. Section 5 (on page 1 of the contract) states that you shall pay an amount equal to 6% of the selling price which is $289,900. This applies if the property is sold, or if you cancel the listing during the term of the agreement.
Since my commission is 3%, the amount you owe me is $8697 if we go strictly by the contract. However I know that since you chose not to continue to list your home you are stretched for funds. Out of consideration for your position I will only charge you $2174, which is 25% of my actual commission. In addition I will pay the $200 contractor fee and the $125 photographer fee out of the $2174 that you owe me.
I fulfilled my part of the contract as far as you allowed me to fulfill it. I marketed your home, advertised it in several formats, brought buyers and offers to your property, and negotiated on your behalf. I counseled you through multiple stressful situations, and over numerous lengthy phone calls.
My time, knowledge and abilities are worth more than $2174, and I would still like to help you sell your home. However, I understand that you may want to go in a different direction and that's okay. I wish you only the best, and you know what is best for you.
I hope to hear from you soon,
~Xxxx Xxxxxx~
I started getting sick to my stomach. However, she may have meant that email to sound, it felt horrible after I read it. I originally signed a contract in later 2018 that stated she would get $500.00 if I canceled.
This was brutal on me! I will NEVER recommend this agency!