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Private buyer but have sole seller agreement with estate agent

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Comments

  • ThePants999
    ThePants999 Posts: 1,748
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    Oh lawdy.

    The agency agreement I signed last time I sold was a simple one-page contract. It made abundantly clear the situations in which I would be liable for their fee, how to terminate the agreement, etc. I strongly suggest that you READ YOURS and understand the situation you're in!

    There's a difference between a "sole agency" agreement vs a "sole seller" agreement. If you truly do have a sole seller agreement with either or both agents, you'll owe one or both of them their fee if you sell to this buyer, regardless of who you tell what. If you have a sole agency agreement, that should hopefully not be a problem. A typical sole agency agreement would make you liable if you sold to a purchaser introduced by any agent while the agreement was in force - a truly private buyer shouldn't leave you liable for EA commission with a sole agency agreement.
  • eddddy
    eddddy Posts: 16,288
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    Seller175 wrote: »
    The first agent period has lapsed...so I could serve their 14 day notice.
    I am still tied in to the 2nd agent for a few weeks. So best thing to do here to clear up this mess is introduce the buyer to the second agent, advise them of the situation and then cancel the 1st EA. I suppose the 2nd agent would need to hold off stating SOLD for 14 days just to cover me...

    Are your contracts both "Sole Selling Rights" or both "Sole Agency"?

    It sounds like you might be planning not to be honest with EA1. You might be treading a fine line.

    If you say something to EA1 which is untrue in order to avoid paying their fee - you're committing Fraud by False Representation (which is a criminal offence).

    If you ask EA2 and/or your buyer to participate in the deception - that's Conspiracy to Commit Fraud by False Representation.

    So think carefully about how you want to proceed.
  • EA1 - sole agency agreement
    EA2 - sole selling rights agreement
  • So I'm assuming me going through ea2 would mean only one fee is payable as ea1 is a sole agency agreement and not sole selling rights?
  • Or are u effectively saying that if I went through the private route only then is EA1 not able to claim fees. Albeit I'd get shafted by the ea2 in this scenario regardless. I think I will approach EA2 and talk to them.....
  • G_M
    G_M Posts: 51,977
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    Seller175 wrote: »
    So I'm assuming me going through ea2 would mean only one fee is payable as ea1 is a sole agency agreement and not sole selling rights?
    As I understand it, you have not yet terminated EA1's sole agency contract.

    So if you 'go through EA2, EA1 will be due his fee (since you'd be selling through an agent).
    By the way, EA1 agreement was for 16 weeks which has since passed. Not sure what happens after that....
    Again, we can't read you contract, but in most cases, the 16 weeks would be a minimum period. After that, the contract continues until one side or the other ends it.
  • So really I need to end it with EA1 and then instruct EA2 to handle it with the buyer. It's the only way unless I want to pay two sets of fees!!
  • Seller175
    Seller175 Posts: 34 Forumite
    edited 16 October 2016 at 1:35AM
    One other point....once I realised this issue of these two contracts, I emailed ea2 about 2 weeks ago and enquired re unknowingly having signed their sole seller agreement; "hypothetically speaking if I was to sell via ea1 would I still be liable for fee to you?" The agent replied simply "you would not be liable for two fees"

    At this point ea2 still hasn't asked about what type of contact I had signed with ea1
  • eddddy
    eddddy Posts: 16,288
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    Seller175 wrote: »
    One other point....once I realised this issue of these two contracts, I emailed ea2 about 2 weeks ago and enquired re unknowingly having signed their sole seller agreement; "hypothetically speaking if I was to sell via ea1 would I still be liable for fee to you?" The agent replied simply "you would not be liable for two fees"

    At this point ea2 still hasn't asked about what type of contact I had signed with ea1

    Assuming both EAs' contracts adhere to TPOS code of conduct:

    I don't know exactly what question you asked EA2, but...

    If EA1 introduces somebody today who eventually buys your property - you will be liable for 2 fees (for EA1 and EA2)

    Similarly, If EA2 introduces somebody today who eventually buys your property - you will be liable for 2 fees (for EA1 and EA2)

    I would be amazed if either EA waived their right to a fee.
    Seller175 wrote: »
    EA1 - sole agency agreement
    EA2 - sole selling rights agreement

    I'd suggest you give the 14 days written notice to EA1.

    Tell your buyer not to contact either EA1 or EA2 during those 14 days - to avoid any suggestion that the an EA is introducing your buyer (and hence double fees are payable).

    After the 14 days is up, your buyer can either contact EA2 or negotiate privately with you. Either way, you will have to pay a fee to EA2.
  • Peter333
    Peter333 Posts: 2,035 Forumite
    Seller175 wrote: »
    But something as important as that they should be advising you. EAs.....scum of the earth.

    If Estate Agents are the scum of the earth, then why did you use not one, but TWO of them? :doh:

    Moreover, why do you think you have the right to not pay them fees?

    If your contract with each one says you have to pay them even if someone wants to buy your house who didn't see the sign or listing, then you have to pay!

    I agree with the posters on here, pay up, and be grateful you have sold your property!
    You didn't, did you? :rotfl::rotfl:
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