Legal Question in Real Estate Law in New Jersey

Re: Selling a home - agreement with a realtor

The textbook answer is that you can get out of the listing agreement by paying the realtor the amount that they would have gotten in commissions had the house sold at the asking price. You may also be able to negotiate a lower price or some other arrangement. If you back out of the deal, the realtor can sue you for the commissions. As a practical matter, this will cost something. There is also the issue that the realtor's costs are lower if you back out. So, the real cost to you should be something between zero and the full commission plus any legal costs that you have.

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