Listing Expiration and Selling Privately

My listing is running out and I wish to sell privately how long do I have to wait after the listing expires before I can do that?

4 Answers

Generally there is nothing to control your entering a private contract for sale the very next day unless there is some specific requirement to which you agreed in the now expired listing agreement. 

For example - in the South Carolina standard residential listing agreement there is an opportunity for the listing agent to enter a specific number of days of commission protection beyond the listing period if the owner sells the property to a person to whom the listing agent or another AGENT showed the property during the listing period.  The logic behind this section of the contract is that otherwise the agent could bring someone to view your property a week before the listing expires.  You then could contact that person and arrange for them to wait and come back a week later to deal directly with you for a reduced price.

Review your specific agreement that you signed.  When in doubt discuss the specific requirements in your state or of your contract with a real estate attorney

It depends on the contract you signed with your realtor.  Please retrieve your listing contract and read through it carefully.  The listing contract should say how long the realtor and/or realty company is entitled to revenue from a future sale if it sells shortly after the listing expires.  Sometimes the realtor will put in the contract anywhere from 30-90 days after expiration of the listing.  Be sure that the realtor has actually marked the listing as expired in their system and on the MLS to avoid any confusion.

This depends on a few things. The number one thing it depends on is the listing agreement you signed with your agent.

This will spell out the terms of the end of the listing agreement and what the terms are to be once it expires.

Most listing agreements have a clause that states that anyone who is brought to the home by the agent is still the agent's client for a certain number of days after the listing agreement expires.

So, if you are selling it privately to someone who has NOT seen the home yet or to someone who is not on the agents list of people that they showed the home to and it is after the expiration of the agreement, then you may sell to that individual without being responsible to pay a commission to your agent.

The best thing to do is to look at your listing contract. Most listing contracts have a protection period built into the contract (normally around 3 months) that basically states if you sell your property to someone that looked or was interested in the property during your listing period the listing agent whom represented you is owed a commission. However, in most listing contracts if you list your property with another Real Estate Agent / Brokerage the protection period is void.

Another option would be for you to speak with your previous listing Agent and ask them for an unconditional release of the listing agreement. However, if they put a lot of time and effort into the marketing of your property, this is unlikely. Good Luck!