QUESTION: if a house is listed threw the MLS, how long does it stay listed, or can a seller cancel the contract if they wanted to, or has to wait for it to get expired??
What is the purpose of this question?
Raj
Every listing contract is different. The seller and agent agree to how long it will last when it’s written. As far as getting out of it, there is usually no provision for doing that. It would have to be a mutual decision between agent and seller.
REI is right. Now, if you’re trying to go behind a listing agent’s back and get the seller to dump the agent and go with you, you’re on the way to developing a bad reputation. If you want the deal and it’s so skinny that you’re thinking of cheating your way into it, get a better deal.
I’ll wager $10 that the question has arisen because the OP would like to make an offer on a house that is listed.
If the seller contacted you directly and you wish to make an offer, you can either request that the seller terminate the listing agreement (if possible) OR wait until the listing agreement burns off. If you end up buying, add to the contract that the seller warrants and represents that NO COMMISSION is payable to ANYONE, under any circumstances.
If you are trying to negotiate with a seller who you learned about because the property was listed on MLS, then the right thing would be not to try to circumvent or harm that client-agent relationship.
You could wait until the listing expires, too.
Another option is to approach the agent and let them know that you would like to buy the property and that you realize the seller is paying the commission, but essentially the seller is worried about the NET price . Then ask the agent if they would consider dropping their commission as a buyers agent, but still keep the sellers agent commission. If you had your own agent they wouldnt get the buyers side commission anywayz. Many times agents will be willing to do this becasue some commssions are better than none.
To answer your question about time periods, most listing run in 3 month increments 3, 6, or 12 month you dont see 9 very often
Eric Medemar
Keep in mind that if the agent shows you the house, they may be due a commission by the seller. There is a protection period in every contract, often 90 days or so. It’s negotiable. If the agent has shown the property and “procured” the buyer through their marketing efforts (MLS, Craigslist, sign, etc.), they can request commission from the seller as part of the agreement.