Commercial Real Restate Realtor Agreement Question
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[{"id": "g6d5h5u", "text": "Most listing agreements have a clause that either party can terminate with proper notice.  They Broker should register spaces he/she has shown you and will be entitled to a commission if you end up going there.  A lack of such a clause doesn't mean you can't terminate, I'd send them a letter saying as much, but talk with the Broker first and let him/her know it is forthcoming.  Nobody wants to work for a client that doesn't want them, so I wouldnt expect any pushback.", "replies": [{"id": "g6d971j", "text": "Thanks so much!", "replies": [], "depth": 2}], "depth": 1}, {"id": "g6d996q", "text": "Normally in my agreements as a broker, I have a 30 day out clause. I require written notice - email qualifies and any transactions in progress such as tours or negotiations are recognized. \n\nIn some cases, there simply may not be any thing available. The challenges I am seeing on the industrial side of things where I am located is that the market is so hot that a lot of things are spoken for already. With how cheap money is right now there are more people looking to buy rather than lease. That being said trying to find a 20,000 SF heavy industrial zoned building in the location you need it for a reasonable price is simply not available right now.", "replies": [], "depth": 1}, {"id": "g6dhqv5", "text": "Most brokerages do not have a termination date of contract. Some stay there for decades. Others pack and go to work for another brokerage next month. This is an independent contractor open-ended employment agreement. Our brokerage lost 60% realtor-associates and realtors after a difficult manager hired 3 months ago. I saw her saying good-bye email. Two days later she is with a small brokerage unspecified.", "replies": [], "depth": 1}, {"id": "g6dj49b", "text": "Thanks everyone. It seems like the consensus is, if I want to terminate their representation, do so in writing and of course any properties they brought to my attention are off the table.", "replies": [], "depth": 1}, {"id": "g6dxv7p", "text": "Each state has its own brokerage rules, so learn your states. Be careful. In some states, you can be liable for all broker's expenses if you do not close out the agreement correctly. Read your agreement carefully and learn your states rules.", "replies": [], "depth": 1}]