Firing agent comes with a price

Home Sale Hindsight

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Q: I just found out that the contract my wife signed with the real estate agent was for a year. I always thought that six months was the standard. The real estate agent has not shown the house to anyone for the last six months. We’ve had only two showings from two other real estate agents. My six-month point is coming due on Dec. 22.

I was planning to get another real estate agent due to the lack of showings. What are my options with this contract and the one-year listing agreement? –Alan

A: You and your wife have a number of options, but first I’d like to address several issues.

As far as what is "standard" in terms of term for a listing agreement, the fact is, in real estate, and in contract law in general, everything is negotiable.