On weekends, a letter on cancellation of listing was published in the Real Estate Department in the Republic of Arizona. The seller seemed reluctant to agree to the listing for 6 months after the listing broker orally agreed to cancel at any time. Right there, you can see the problem. Orally.
Two months later, for some reason, the sellers decided that they no longer wanted to sell their house, and demanded the cancellation of the listing agreement. The broker said: “Of course”; but requested compensation in the amount of $ 1,000 for advertising and promotion has already been completed.
The lawyer who responded to the letter surprised me with his answer, which, in fact, tried to reach a financial agreement.
First, let me say that if you, as a broker, agree to cancel the agreement and, thus, declare its commencement, then it is in the interest of both parties to put conditions and any financial sanctions for such actions in writing at that time.
It seemed to me that the broker decided retroactively to charge for the services rendered and kept the seller to buy it back until he left. Ethically, I find it disturbing and frustrating. We charge a reasonable fee for our services, but never collect pennies until they are completed, i.e. the house is sold. Some we win, and some lose. This is part of the business value.
There are some companies that break down every individual service offered and charge for a la carte accordingly. This is normal. In this case, I think that the broker should go on a high road, forget about the charges and move on. If in the future that is the way he wants to run his business, distinguish him in advance and in writing.
