If my Realtor is fired by the company he works for, can I get out of the contract?

Question

Without paying anything or being held to the 60 day after sales clause?

Answer 1

no

Answer 2

It would seem to me, depending on your state's specific regulations, that your agent acted as a representative of the company with whom he or she was licensed.  If he is no longer licensed by that company it may well be that the agreement is null and void or the company may have the right to transfer the responsibility for servicing your contract to another of their licensed representatives.

Call your state's Realtor licensing agency, they should be able to answer your question.

Answer 3

Depends on what state you're in, too...check with the Realtor's broker or your attorney and you will get the best information.

Answer 4

Call his broker.  Most of the Realtors I know would let you out of the contract without owing them anything...

Answer 5

Your contract (listing agreement) is with the real estate brokerage firm, not with the individual sales agent...so, no, you can not...the firm merely hands the matter over to another of their sales agents and the contract (listing agreement) remains in effect.

Answer 6

The answer depends on the contract that the realtor had with the company, and with you. If the company retained rights to his customers in the event of termination, and that was in the agreement you signed with the realtor, then you are still technically with that company for the 60 days and they can assign another realtor to you.

If your agreement names only him, then you should be off the hook, assuming he's agreeable. I'd look at your agreement, and if it's fuzzy or not specific, call the realtor and/or the company...of course the company will press you to stay with them, and he's going to want to take you as a customer to whatever new firm he joins, or if he decides to do his own thing as an independent realtor.

If in doubt, you might want to consult with the realtor's board or a lawyer to be sure...

Hope this helped.