Exclusive Authorization-Residential Income Listing Agreement
Hi All,
I have a family member who was listing his Los Angeles property with a real estate agent. He decided that he wants to sell the property to a different family member instead of selling it on the market. He called the real estate agent and told them that he does not want to sell the property through them at this time. When he listed with the real estate agent he signed a contract from the California Association of Realtors (C.A.R. Form CLA) Commercial and Residential Listing Agreement.
The first section of the document is titled Exclusive Authorization. It states that "the owner hereby employs and grants the broker June 1, 2017 and ending November 30, 2017 the exclusive and irrevocable right to Sell the real property in Los Angeles CA" It lists the address of the property.
The realtor has taken the property down from the MLS.
He sent my family member a letter indicating that
"the listing agreement covers the above periods listed and that the agreement is in full force and effect. However, we are willing to accommodate your wish/request to have the property off the market at this time. Pending future conversation."
The letter goes on to say "we will continue conversations with prospective buyers whom we are in contact with and we will make our best efforts to obtain a full price offer on your property."
My question is, does my family member have to wait until the end of this listing agreement to sell the property to my other family member? They are not planning to list with a real estate agent, only use a title and escrow company.
Also, does anyone in Los Angeles know a real estate attorney who I can refer my family member to regarding this situation?
Thanks,
August