So, today was supposed to be the day I took my house off the market. I’ve been planning this for a couple of weeks now, and my realtor was in the loop. The original contract I signed with the realtor doesn’t have any cancellation fees, but it does state that both parties need to agree to cancel it. The contract is set to end in November, but my family and I have decided not to work with this realtor in the future. Our plan was to let our kids settle into school while we rent out our small 1-bedroom guest house on VRBO to cover some of life’s expensive costs before attempting to sell again, probably around next Spring. We really didn’t want any more showings because we need time to recover from all the packing and moving we did last September.
Yesterday, I received a termination contract from the realtor that states we would be charged a 3% commission if we try to sell our house at any point until 2027. I thought it was a mistake at first, but turns out, it wasn’t. It feels like a steep price to pay. I talked to the realtor about it, and we might just have to wait until November for the contract to expire naturally. However, I made it clear that if we do end up keeping the house on the market, we’ll be increasing the price, removing the staging, unpacking, and only allowing showings with a 24-hour notice.
I’m wondering if anyone else has ever come across a termination agreement like this one. I reached out to the realtor’s broker, politely asking to be released from the contract, but I have a feeling they might side with the realtor on this one.
In the meantime, we’re stuck in this limbo of wanting to move on but being tied down by this contract. It’s frustrating, to say the least. But hey, that’s life, right? You never know what curveballs it’s going to throw at you. I guess we’ll just have to wait and see how this all plays out.