Agents contract

Friends of mine have signed a 90 day contract with a Jenman agent. They have only bought 3 people through in 3-4 weeks. This house is immaculate and the agent has bought in one offer $75k under their asking price and the price a similar house sold for in the area. They are very unhappy with the results and want to know, can they get out of this contract . Could they take the house off the market, repaint and add another bedroom, then put it back on the market with another agent, as it would be a fairly different house. Would love any answers urgently
 
... can they get out of this contract
Legally - No. However, they could ask to be released from the contract and it would then be up to the agent whether or not they will release them.

Could they take the house off the market, repaint and add another bedroom, then put it back on the market with another agent, as it would be a fairly different house.
Yes, but not within the 90 day contract period unless the agent has released them from it.
The # of bedrooms in the house is irrelevant. The contract is with the owners for the sale of whatever property is at the address on that Lot & DP.
 
Jenman is suppose to be the champion of freedom and all things good, they just need to explain their reasons and ask to be released, else call the guy with the big hat, am sure it would be a great story for him to run in his monthly magazine
 
Friends of mine have signed a 90 day contract with a Jenman agent.

is it in QLD??? if so, the maximum is 60 days. So either it is an open listing and they can engage other agents, or it is an illegal signing and ineffective anyway.

They have only bought 3 people through in 3-4 weeks. This house is immaculate and the agent has bought in one offer $75k under their asking price and the price a similar house sold for in the area.

Not uncommon as many Jenman agencies don't advertise they way non-jenmans do. as for the offer, the agent must by law communicate interest in the property so regardless of the price there they have done the right thing.

They are very unhappy with the results and want to know, can they get out of this contract .

you could try and get the agent to sign a notice to rescind the listing which IF they sign (a smart agent would) it releases them from the agreement and the agent forgoes any entitlements etc etc.

short answer is yes they can flick them through mutual agreement- a phone call to the principal with words to that effect may suffice.


Could they take the house off the market, repaint and add another bedroom, then put it back on the market with another agent, as it would be a fairly different house.

absolutely - no problems there at all
 
I already think once an agent signs you up, you are stuck. So in future can one add a special clause in the agreement something like :
Irrespective of anything to the contrary, this agreement can be terminated in writing 2 weeks notice by either party, no commission is payable.
 
Unless they are after a quick sale they can simply wait out the agency period and refuse to accept less than the quoted listing price.

We sold mum's house in May through a Jenman agent and were very pleased with them. We spent considerable time setting the price, and our independent research coincided with the agent's estimations.

Sold in 3 days for over 99% of the asking price.
Marg
 
Celica,
It looks as thought they are 1/3 of the way throught the listing period anyway. Why not commence the proposed painting and additions now, by the time the reno is complete, the existing agreement would be over just in time to relist with someone else...you never know, they might jag a sale half way through!:p

Boods
 
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