When a listing goes from an agent to a for sale by owner, is there any waiting period?
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When a listing goes from an agent to a for sale by owner, is there any waiting period?
I was attempting to sell my house through a real estate agent. I ended up dropping that real estate agent and decided to sell the house on my own, FSBO. A friend of mine then told me there might be a law in place that requires a homeowner to wait a certain period before they can list the property tis way if they were just working with an agent. I’m not using any of the clients or anyone related to my agent and this was definitely not mentioned in my initial contract/agreement with my agent. Is there any truth to this?
Asked on June 27, 2019 under Real Estate Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
There is no legally mandated waiting period once the contract with the agent has expired or been properly/legally terminated early. There is a practical reason to wait at least briefly, so as to avoid the agent trying to claim that the buyer actually first viewed the house while the agent was still in place or first saw the agent's listing for the home (e.g. the contract ends July 5th; if a buyer places an offer July 11th or 12th, you can be certain the agent will try to claim the commission, stating that given the timing, the buyer must have first became aware of the home during the agent's tenure).
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