Urgent Question: Listing Agreement

**dbdbdb** · 10-20-2009, 02:29 AM

Hello all, I have a question of a urgent nature ...

I signed a listing agreement with a broker and after four weeks passed had a potential buyer submit a offer to buy. ...... BUT

The broker listed the house in the MLS\trend system at a lower {INCORRECT} price than what was stated on the agreement - which meant that the potential buyer's offer came in much lower than it should have. I only found out about this when the offer was made soo much lower than my original {Per listing agreement} asking price.

In this economy I'm pretty much forced to take the offer - but I can only wonder if the correct price had been listed per the agreement - I would be accepting a much larger offer.

I came across this phrase in my searches:
Broker/agent can violate the listing agreement by listing the house at an incorrect price.

1. What is the status of the listing agreement and has it been violated????
2. Can someone clarify VIOLATED in this context.

Thanks for your help -

**markbrian** · 10-20-2009, 06:28 AM

You need the advice of a local real estate attorney. They can look at the contract and know the specific laws of your state.

**Glennet** · 10-20-2009, 06:49 AM

Hello-

First - I am not an attorney - and suggest you consult one.

However - your listing agreement is the legal contract the governs the listing process. If your broker incorrectly listed the property on the MLS at an incorrect lower price - you are under no obligation to accept the offer - and it is your brokers problem. The violation in this case is generally your right to opt out of the contract should you desire - however there are state laws that govern such issues and your attorney would be able to offer clarification.

Good Luck-
Glenn

**dbdbdb** · 10-20-2009, 09:34 AM

Originally Posted by Glennet

Hello-

First - I am not an attorney - and suggest you consult one.

However - your listing agreement is the legal contract the governs the listing process. If your broker incorrectly listed the property on the MLS at an incorrect lower price - you are under no obligation to accept the offer - and it is your brokers problem. The violation in this case is generally your right to opt out of the contract should you desire - however there are state laws that govern such issues and your attorney would be able to offer clarification.

Good Luck-
Glenn

Thanks Glennet,

Mainly I was concerned that this {Agent listing home at wrong price} was a breech of contract.