Unsure about contract from Estate Agent, please help
The markets flat, find another agent
Tell them they can have 3 months as sole agent, 9 months is a mickey take
The other clause is not uncommon but basically if you mention to someone on here (or your mum) that your gaff is for sale and sell it completely without the agent they still trouser the fee
Again – tell them where to get off
Find another agentPosted 4 years ago
This is long, my apologies in advance.
We picked an agent from three candidates who came round to view our flat. The valuations were all fairly similar and all three seemed like a good bet. It’s probably worth mentioning that the flat is in Glasgow but we are based in Manchester and the agent will have to do all the viewings etc.
Anyway I’ve just got the contract through the mail. The first thing that stood out was a £300 plus vat fee if we wanted to terminate the agreement, which is for 9 months. I googled it and found this website
Well, my contract contains quite a few things the author of that piece reckons are ethically challenged.
Irrevocable instruction to my solicitors (I haven’t got one yet, but in light of this I really should) to pay the agent upon the date of entry
Their right to end the agreement without notice or penalty, but 28 days notice and a hefty penalty for us
If we find a buyer and they “react to any advertisement, display, and/or sales particulars, and/or property list by the agents and/or has spoken to the agents about any aspect of the property and its marketing.” then we still need to pay.
The web article above seems to think this is very bad, but it could be standard practice for all I know.
If this is all normal, then that’s absolutely fine. We made a mess of it trying to sell it just as the market crashed 5 years ago and don’t fancy making any more costly mistakes this time around..
Your best advice, opinions, abuse, and jokes please.
P.s. Anyone looking for a nice flat in Shawlands?Posted 4 years agoStonerSubscriber
pieman – your are the customer and are instructing them on what you want them to do for you.
If they come back and say they want an extra 0.2% because you insist on 2 month exclusivity then that’s fine – you know what they value the 9 month clause at.
I do it all the time. I change fee bases if I think they are too high or dont encourage them to achieve a higher price (I put fee ratchet on meeting price levels in a contract a few years back – they get a base % for anything up to an agreed target, and for anything over they get a higher fee rate. It was lucrative for them, but it meant I got them to really push for the extra sale price)
I also strike out renewal fees for tenancies and I always take off a bit of the tenancy fee rate if I use the same agency for management services.
They can always say no, but they never do. The want my business, Im a good customer. Im straight with them and it keeps them straight with me.Posted 4 years ago
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