.jpg)
The contract
Ultimately, the estate agent is working for the seller, not the buyer, and they take their fee as a percentage of the agreed purchase price of a property. However, fees will vary widely and it is important to remember that just because an agent offers a low fee, it doesn't mean that you are necessarily getting good value.
When you decide which agent, or agents, are going to sell your property, you will have to agree to their written terms and conditions. There are four types of agreement:
Sole Agency – You employ the services of one agent to sell you property for an agreed period of time, usually a minimum of 12 weeks. If you sell your property through another agent before your agreement with the original has ended, then you will still have to pay the original agent their fee as well. Likewise, the agent must respect the terms of the agreement and ensure that the service promised and agreed is delivered.
Joint Sole Agency – This is when you employ two agents to sell your property. The agents agree to split the fee upon the sale of the property. The agent that sells the property usually gets a higher percentage of the fee. The ratio is pre-agreed with you and written into the agreement.
Sole Selling Rights – This means that the appointed selling agent will be due the agreed fee, even if you end up selling your property privately or through another agent.
Multiple Agency – This is when you employ the services of several agents. The agent that sells the property takes the whole fee.
|
Search by map
|
