then the listing price? 2--If the real estate broker does not want to increase the listing price, may I unilaterally cancel this listing without owing commission to the broker for the past listing?
The listing belongs to you. You can demand that the price be increased. The realtor is your agent - As the principal you can direct your agent to raise the price.
However, realtors perform a market analysis to determine what is the best price to set in order to sell your house. The price is based on what similarly situated homes i n or near your community sold for. So, unless you have reason to believe that the analysis performed by the realtor is wrong, I would be careful about pricing your home out of the market.
I am not a CA attorney, laws vary from state to state, therefore you should always consult a local attorney.
If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.
Real Estate Attorney
Check your listing agreement. Does it allow you to set the price? If it states that the price will be listed at a certain price and the broker finds a buyer at that price, you may have to pay the broker's commission even if you refused the sale.
Remember the broker wants to sell the house at the highest possible price, just like you do.
Real Estate Attorney
Typically, you would not owe the commission unless the the agent finds a ready, willing, and able full price purchaser (with no contingencies) at the original price. Hopefully your agent will work with you.
Personal Injury Lawyer
I concur with my colleagues. You may want to talk directly with one or two of the real estate attorneys listed above.
Mr. Crosner is licensed to practice law in California and has been practicing law in California since 1978. The response herein is general legal and business analysis.. It is not intended nor construed to be "legal advice" but rather it is analysis, and different lawyers may analyze this matter differently, especially if there are additional facts not reflected in the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. I am not your attorney until retained by a written retainer agreement signed by both of us. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.