Conditional Vs UnconditionalUnconditional Release of the Seller from The Listing Agreement or Conditional Release of The Seller from The Listing Agreement… Which One Is It?

UNCONDITIONAL RELEASE: The listing Broker in a writing on company letterhead states that the Seller is unconditionally released from any and all obligations arising out of the listing agreement with the listing Broker.

CONDITIONAL RELEASE:  The listing Broker in a writing on company letterhead states that the Seller shall be released from any and all obligations arising out of the listing agreement with the listing Broker only under the following conditions: (Broker then states the specific conditions).   Examples of “conditions” can be reimbursement of expenses incurred by the listing broker such as advertising (must be itemized and have receipts).

In either case, the listing Broker should make sure that the Release is fully explained to the Seller and the Seller understands the terms.

GSMLS Permanent Withdrawal Form:  This form is used to permanently remove a listing from the MLS when the Listing Broker grants a Release (unconditional or conditional) to the Seller.  It should be used for MLS purposes.  It is recommended that the Listing Broker do the  Release (unconditional or conditional) as a separate writing on company letterhead.

Any questions please contact Mary Cano, CEO at 973-425-0110