L.A. real estate news and insights.
January continues to be a hot month for the housing market.
Weekly mortgage applications jumped 30% for the week ending Jan. 10, a sign that homebuyers are emerging in 2020.
As I mentioned in the past, buyers typically take a break in December, then start their search again in January.
Check the first page of your listing agreement for the contract’s expiration date.
Once that date passes, the contract then becomes expired, your agent no longer works for you, and you are free to hire a new agent.
If you sell your home through a new agent before the listing agreement with your old agent expires, you will have to pay the new agent AND the old agent a full commission. ☹️
If you’re selling your home, and you sign a listing contract with a real estate agent, be aware of the contract’s expiration date.
Memorize that date!
If your agent is not doing a good job selling your home, once that date passes, you are free to hire a new agent.
You will no longer be obligated to pay the old agent a penny in commission.
Once you accept the buyers offer, you better prepare to actually sell your property.
Chances are the buyer will perform by removing all of their contingencies and you will have to abide by the contract by selling your property.
Accepting a purchase contract for your property is not a game or a joke... the consequences are very real.
