Might be taking IP off the market March 11- RE Agent contract ends in May

Hi

Hoping someone can help.

I've decided to give my RE agent a deadline to get an offer on my unit in 1 months time. By March 11. My RE agent contract to sell is until middle of May

My tenant moves out March 1.

I'm not sure how to go about things as I've not been in this position before.

Can I postpone my contract if I verbally agree to take it off the market on March 11 and then agree to put it back on the market again in a years time?

I know I'll have to pay the advertising fees. I don't think there's any other expense.

If it's not available till March 11 is it a good idea to start advertising as soon as possible? Also I guess I'll be up for some costs pm costs too if I happen to accept an offer on my property before March 11.

Have I covered everything?

 

You can take it off at any time you want. You'll need to pay the marketing expenses that they have spent - if that is your agreement.

If you advertise for a new tenant now then it's likely you'd have some marketing fees but nothing too major.

It would be best to decide one way or the other which way you want to go rather than try and juggle the 2 ideas.

 

Oh ok thanks that's good to know.

Well perhaps what I could do is drop the asking price by $5000 and have one more home open this weekend. See how that goes and if still no offers then I'll pull it off the market.

My RE agent is on a three week holiday and another agent is filling in for her. She'll most likely be a bit pussed. Oh well.

I can always let my pm know that I'm thinking about taking it off the market and tell her if there are no offers by next Saturday I'll need her to advertise for rent.

 

Just found this

It's still on the market but now also being advertised for rent. A similar type property but in North Perth.

The pm would have to let prospective tenants know it's on the market for sale. They would see the for sale sign anyway. Wouldn't this put them off applying if they know it might be sold!?

Wonder why they didn't remove it from the market. Unless it's slow to come off the website.

32/3 Russell north Perth
To buy
32/3 Russell Avenue North Perth WA 6006 - Unit for Sale #119808399 - realestate.com.au


32/3 Russell north Perth
To rent

32/3 Russell Avenue North Perth WA 6006 - Unit for Rent #417750850 - realestate.com.au

 

Why don't you have it on the market to sell and rent at the same time? Either you get an offer or you get a new tenant. Tell the agent and the pm whatever comes first you will take. Potential tenants will be told that the property will be off the market as soon as they sign a lease.