My question involves real estate located in the State of: North Carolina.
I own two houses that are for sale. They are separate legal parcels but are right next to each other.
Listing agreement #1 is for House A and the land it is on, currently priced at $170K.
Listing agreement #2 is for both House A and House B together and all of the combined land, and currently priced at $525K.
There is no option in listing agreement #2 for either house to be sold individually.
What happens to listing agreement #2 if House A sells individually under it's separate listing agreement? Would this constitute a material change under which I could cancel Listing agreement #2 without penalty?
I am completely dissatisfied with my Realtor, and would like to sell House A as soon as possible, and then re-group with House B off the market for a bit. I strongly questioned the Realtor's suggested list price for House A, which seemed way too high to me. I deferred to the Realtor's expertise after MUCH encouragement from him, and listed at the price I was advised to list at, which was $220K. House A has now been on the market for over 2 months with exactly *1* phone call and subsequent showing, and this despite 2 price drops initiated by me totaling over $50K, and I am STILL not sure it's priced correctly. It's been listed at the current $170K for two weeks without a single phone call, and meanwhile there have been 11 houses in this area at the price range I think is correct ($160-ish) that have gone under contract in the last 3 weeks. I can understand an agent being off by $5-10K, but being off by $50K+ in this price range is ridiculous.
Outside of the pricing "controversy" over House A, the first week on the market for the package of both houses hasn't been impressive. The listing agreement was signed last Thursday, and only yesterday (Thursday) did the agent make it out here to put a sign and brochure on the property, and that after 2 phone calls from me asking about it. Apparently he "ran out of signs" and had to go get one from a different listing. Unfortunately, he forgot the lock box, so there's not a lock box on House B yet. And zero phone calls this first week on the package parcel, either. And yes, believe it or not, this agent is with a national company I can guarantee you have heard of.
I know there are options to terminate either or both listing agreements, but I'm not interested in paying for advertising costs or listing costs that net me nothing. If listing agreement #2 dissolves with the sale of House A (since #2 is a package deal only) , I am planning to drop House A to what I think is the correct price range and sell it. I'll re-direct with House B after i have had the chance to work out different plans........maybe FSBO or perhaps rent it out or some other option, or with a completely different agent/company. I may also just delay selling House B until next spring, too....my original plan was to buy land and build a house, but I was up against a time line due to work travel this fall. I may just wait so I'm not halfway across the country when the new house is being built.
Thank you for any insight.
I own two houses that are for sale. They are separate legal parcels but are right next to each other.
Listing agreement #1 is for House A and the land it is on, currently priced at $170K.
Listing agreement #2 is for both House A and House B together and all of the combined land, and currently priced at $525K.
There is no option in listing agreement #2 for either house to be sold individually.
What happens to listing agreement #2 if House A sells individually under it's separate listing agreement? Would this constitute a material change under which I could cancel Listing agreement #2 without penalty?
I am completely dissatisfied with my Realtor, and would like to sell House A as soon as possible, and then re-group with House B off the market for a bit. I strongly questioned the Realtor's suggested list price for House A, which seemed way too high to me. I deferred to the Realtor's expertise after MUCH encouragement from him, and listed at the price I was advised to list at, which was $220K. House A has now been on the market for over 2 months with exactly *1* phone call and subsequent showing, and this despite 2 price drops initiated by me totaling over $50K, and I am STILL not sure it's priced correctly. It's been listed at the current $170K for two weeks without a single phone call, and meanwhile there have been 11 houses in this area at the price range I think is correct ($160-ish) that have gone under contract in the last 3 weeks. I can understand an agent being off by $5-10K, but being off by $50K+ in this price range is ridiculous.
Outside of the pricing "controversy" over House A, the first week on the market for the package of both houses hasn't been impressive. The listing agreement was signed last Thursday, and only yesterday (Thursday) did the agent make it out here to put a sign and brochure on the property, and that after 2 phone calls from me asking about it. Apparently he "ran out of signs" and had to go get one from a different listing. Unfortunately, he forgot the lock box, so there's not a lock box on House B yet. And zero phone calls this first week on the package parcel, either. And yes, believe it or not, this agent is with a national company I can guarantee you have heard of.
I know there are options to terminate either or both listing agreements, but I'm not interested in paying for advertising costs or listing costs that net me nothing. If listing agreement #2 dissolves with the sale of House A (since #2 is a package deal only) , I am planning to drop House A to what I think is the correct price range and sell it. I'll re-direct with House B after i have had the chance to work out different plans........maybe FSBO or perhaps rent it out or some other option, or with a completely different agent/company. I may also just delay selling House B until next spring, too....my original plan was to buy land and build a house, but I was up against a time line due to work travel this fall. I may just wait so I'm not halfway across the country when the new house is being built.
Thank you for any insight.
Agents and Brokers: Material Change = Nullified Listing Agreement
Aucun commentaire:
Enregistrer un commentaire