Agent (hsr) Refused Termination Of Exclusive Right To Sale Contract?

[bepgof 20]

Morale of the story: Do not sign exclusive contract with agents?

- My 2 experiences of signing excl agm to sell were due to facts that I have little time to entertain so many ppl, and believed by committing to give higher comm, would encourage agent to work harder by bringing in more potentio buyers.....that's all.

- Off cource, selecting good agent is another "tough" process.

- For buying, I did/do my own "striking", I believe my own judgement, no regrets even make mistake - anyway, take one quite some time to learn to "take" and "put down" with no regrets.

Edited July 3, 2010 by bepgof

[Warrior88 0]

Yes,,, i agree ...

You got right to notify and they got right to reject.

Make another notify letter again, this time keep em.

don't think they can get you, no otp sign yet.

What, they gonna call the buyer to verify the statement ? no right.

Even in court its still their word against yours.

HSR will not spend this stupid money for their staff to pursue this matter.

Unless the staff wish to pursue on their own accord.

But for what ... dignity ?

But frankly, mediation is the best option. Pay them a small fees for their adverts, valuation report and time spend. I think both sides will win in this case.

[bepgof 20]

Hi,

When an exclusivity agreement is signed, there typically would be a clause that allow an agent to claim compensation or expenses if an owner has rejected an offer that meet or exceed the expected sales amount in the event that the exclusivity is terminated.

e.g.

1. The agreement was signed with an expected sale of $140,000.

2. During the period, an offer was made for $160,000 and the owner rejected.

3. Owner then terminate the agreement after the 3 months, agent may then have the right to claim compensation/expenses because he has met the required target. What kind of compensation/expense will be stated in the agreement. (thus it could be % of offer that was rejected)

I believe the agent is using this rational to claim.

FYI, i was explain very clearly on this clause and thus was one of the reason I did not sign the exclusivity.

I think likewise. I was also explained about abt this clause(that was why I later explained to my wife that I increased another 20K on top of my original target price, to safeguard -both side got their "protection")The amount was put down in the contract.

Edited July 3, 2010 by bepgof

[lalala 0]

Hi

I'm back with interesting updates. I request a look at the option form, sure, all particulars were filled up but there were no signatures from buyers, sellers or even the agents. We, the sellers, did not sign on it. I do not think that it is valid. WRT the standard procedures, sellers are required to sign on the OTP when they make the option to the buyers. As such, I think we are safe should we proceed to small claims.

As for the false claim of us requesting $20000 on top of SP, both agents denied making the statement. I got evidences of this as well. So I think I might make a complaint either to case or to SAEA. Didnt want to dwell on this anymore, but hubby insists.

We even suggested a settlement with them. To let them carry on the sale with a ready buyer now with reduced commission , but want a written agreement of termination of this exclusive contract from them (just in case) , but they insist on signing anohter exclusive with them, else no termination agreement from them.

After hearing this from them, i think i do not even wish to proceed with the settlement but to just write in again to HSR , request non renewal of the contract ( as advised by a lawyer fren) and two weeks later, the contract is deem to be null, with or without the company's reply or agreement. ( Of course, I feel more secure if I can get a confirmation from the company)

Edited July 8, 2010 by lalala

[ivanotas 0]

As for the false claim of us requesting $20000 on top of SP, both agents denied making the statement. I got evidences of this as well. So I think I might make a complaint either to case or to SAEA. Didnt want to dwell on this anymore, but hubby insists.

for CASE, you will need prove. best is meet up with them and ask them to do a written black and white letter with both parties signature so you guys can go to case or SAEA. Even if it a makeup story, the agent will feel the heat, they might write (if they really did not claim that statement) and might not wanna write (given the fact, they might have claim that ugly statement). Anyway, if they know about you requiring the letter in exchange for the exclusive crap again.. they might withdraw and let this thing a rest as their rice bowl is on the line. NEXT YEAR, they will get points deducted. then again. will company assist them? fight for them? I doubt so. given the amount of headcount in the company.

[ivanotas 0]

Hi

I'm back with interesting updates. I request a look at the option form, sure, all particulars were filled up but there were no signatures from buyers, sellers or even the agents. We, the sellers, did not sign on it. I do not think that it is valid. WRT the standard procedures, sellers are required to sign on the OTP when they make the option to the buyers. As such, I think we are safe should we proceed to small claims.

So what if you guys did not sign? they are claiming on the fact that they have clinch a deal that is stated in the contract that they are able to find a buyer for your house at the price stated. so they have fulfill the contract signed and selling price. so there is a CASE!!!

[Warrior88 0]

After hearing this from them, i think i do not even wish to proceed with the settlement but to just write in again to HSR , request non renewal of the contract ( as advised by a lawyer fren) and two weeks later, the contract is deem to be null, with or without the company's reply or agreement. ( Of course, I feel more secure if I can get a confirmation from the company)

So after that 2 weeks, you can proceed to sign the buyer OTP.

After all, all that SCT and lawyer stuff are all verbal only right ?

If nothing is written in these 3 months, just pretend it never happen.

Really, I think HSR should just ask for a small fees to cover their losses and move on

[ivanotas 0]

So after that 2 weeks, you can proceed to sign the buyer OTP.

After all, all that SCT and lawyer stuff are all verbal only right ?

If nothing is written in these 3 months, just pretend it never happen.

Really, I think HSR should just ask for a small fees to cover their losses and move on

I dont think it's HSR. Think it's their agent. from LA's quote. can see that the agent make false claim. on 20K.

will the agent do it? anyway. I am uncertain that HSR will make claim from you guys. cos I believe most of the so call advertisement is done by agent.

so.. AGENTS vs SELLERS!!

[lalala 0]

So what if you guys did not sign? they are claiming on the fact that they have clinch a deal that is stated in the contract that they are able to find a buyer for your house at the price stated. so they have fulfill the contract signed and selling price. so there is a CASE!!!

I agree with you but we can claim that we did not agree to the offer/deal bcos the extension of 60 days given is not enuf for us? this extension has to be agreeable by both parties before entering the deal isnt it.

[ivanotas 0]

I agree with you but we can claim that we did not agree to the offer/deal bcos the extension of 60 days given is not enuf for us? this extension has to be agreeable by both parties before entering the deal isnt it.

good luck to u! sound like sanding down a tree for a matchstick to me.

[wcseow 0]

I agree with you but we can claim that we did not agree to the offer/deal bcos the extension of 60 days given is not enuf for us? this extension has to be agreeable by both parties before entering the deal isnt it.

Hi

All they need to show is that an offer has been made within the initial period of 3 months (within 13 Jun in your case) that has met or exceed the amount stated in the contract. Thus as what ivanotas has mention, they had fulfilled their obligation. Whether u accept that offer or not is irrelevant. Thus as long as they can proof that, they have grounds for compensation. What constitute that proof is the big question. They do not have a buyer-sign OTP, or buyer-issue cheque as hard-proof. Whether a verbal offer from buyer or an SMS offer from agent to you is good enuff, guess best u discuss with ur lawyer.

But they cannot reject the termination of contract as u have already written them to activate that. But pls note this is a different concern than the compensation that is being seek.

Hope it help

[vinder79 0]

Hi

All they need to show is that an offer has been made within the initial period of 3 months (within 13 Jun in your case) that has met or exceed the amount stated in the contract. Thus as what ivanotas has mention, they had fulfilled their obligation. Whether u accept that offer or not is irrelevant. Thus as long as they can proof that, they have grounds for compensation. What constitute that proof is the big question. They do not have a buyer-sign OTP, or buyer-issue cheque as hard-proof. Whether a verbal offer from buyer or an SMS offer from agent to you is good enuff, guess best u discuss with ur lawyer.

But they cannot reject the termination of contract as u have already written them to activate that. But pls note this is a different concern than the compensation that is being seek.

Hope it help

Hi did anyone show u the sms or cheque receivved from'buyers"?Anyone can fill in particulars right so was it vertified?Ask Hsr to send u copy for u to look at.Why did agent offer to sell u valuation if there is a buyer?Was thre report made when u wrote in to them or before that?After u rejected the offer or wanted to terminate svcs did agents still advertise for u?Mybe ans to this questions will help u.I got back $1200 from my despicable ERA agent after i made a big deal out of his attitude and lies.I dont believe in paying where payment is not due.But after u signed the exclusive did agents uphold their end of the bargain?Did they market your house well.Was the response gd and genuine?If they were maybe u should think abt it again.

[bepgof 20]

Hi lalala, care to share the reasons drove you to terminate the exclu agreement?

Edited July 8, 2010 by bepgof

[lalala 0]

I wish to terminate the contract because due to personal reasons, i need a break after the 3 mths should there be no deal . that i have told them at the beginning and they are aware, i guess that's why they rushed to getme sign two wks before expiry. However, there's no potential units in the pictures for me to buy and thus i am not comfortable to go ahead with the sale.

Also, after the false claims and the attitude of HSR and agents, I do not feel comfortable working with them already.

I have to say that they did their job and that's why when they admit that the false claims were not from them, I am willing to continue working with them based on new terms and conditions once I am ready. I told them taht and they seem to be willing to accept this arrangement, albeit they might want another exclusive to safeguard their interest. For me , once bitten twice shy, im pretty reluctant to sign any contract again. Hoping that we can move on based on mutual trust.

[ivanotas 0]

I wish to terminate the contract because due to personal reasons, i need a break after the 3 mths should there be no deal . that i have told them at the beginning and they are aware, i guess that's why they rushed to getme sign two wks before expiry. However, there's no potential units in the pictures for me to buy and thus i am not comfortable to go ahead with the sale.

Also, after the false claims and the attitude of HSR and agents, I do not feel comfortable working with them already.

I have to say that they did their job and that's why when they admit that the false claims were not from them, I am willing to continue working with them based on new terms and conditions once I am ready. I told them taht and they seem to be willing to accept this arrangement, albeit they might want another exclusive to safeguard their interest. For me , once bitten twice shy, im pretty reluctant to sign any contract again. Hoping that we can move on based on mutual trust.

If mutual trust is to be trusted? will there be this thread. smell fishy here. ANOTHER CONTRACT? U ready to sand down to big trees to two matchstick?

if i were you. just let them sell and don sign any more.

what u sign maybe the OTP. and get all agent to hunt a flat for u cos winner get the deal.

ANYWAY! GOOD LUCK-sanding...