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Estate Agency Fees
Hair_Bear
Posts: 49 Forumite
If you advertise a property through more than one estate agency does the estate agency that actually makes the sale get all the commission? Or is the commission shared equally among the estate agencies? Cheers.
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If you advertise a property through more than one estate agency does the estate agency that actually makes the sale get all the commission? Or is the commission shared equally among the estate agencies? Cheers.
Depends on the agreement you have signed but if Multi Agency then the commission goes to the agent that introduced the buyer.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
Depends on the contracts that you sign with each of the agents.
I take it you WERE going to tell the first agent that you'd also listed with the second, and vice versa...?0 -
Yes, so all the other estate agencies get absolutely nothing from the completed sale?MissMotivation wrote: »Depends on the agreement you have signed but if Multi Agency then the commission goes to the agent that introduced the buyer.0 -
Yes, so all the other estate agencies get absolutely nothing from the completed sale?
As long as you signed a Multi agency agreement with all the agents and no special conditions or agreements altering the agreement were made and the agent that 'introduced' the buyer can prove that they did so then the other agents are not entitled to anything.
Can I ask why you are concerned?My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
I phoned up today to view a property for a 2nd time. The agent said it had gone under offer with another agent. But he seemed very keen for me to still view the property, almost inviting me to gazump. I had thought that they shared the commission amongst all the agents who had gone to the trouble of advertising the property, conducting viewings, etc. when a sale was made. Obviously I was wrong, and the agents are very keen to cut each others' throat to get the commission.0
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I phoned up today to view a property for a 2nd time. The agent said it had gone under offer with another agent. But he seemed very keen for me to still view the property, almost inviting me to gazump. I had thought that they shared the commission amongst all the agents who had gone to the trouble of advertising the property, conducting viewings, etc. when a sale was made. Obviously I was wrong, and the agents are very keen to cut each others' throat to get the commission.
We potentially have a similar situation, viewed a property, called to arrange a second view as we are seriously interested, to be told that an offer has been made, but not accepted as they have not sold their house yet, can we ask the EA what that offer is? would they tell us, or do we just have to guess what that offer is and try to match it?0 -
We potentially have a similar situation, viewed a property, called to arrange a second view as we are seriously interested, to be told that an offer has been made, but not accepted as they have not sold their house yet, can we ask the EA what that offer is? would they tell us, or do we just have to guess what that offer is and try to match it?
You can ask, or ask what's likely to be accepted by the vendor. The worst that's likely to happen is that they don't tell you, or don't answer accurately...0 -
We potentially have a similar situation, viewed a property, called to arrange a second view as we are seriously interested, to be told that an offer has been made, but not accepted as they have not sold their house yet, can we ask the EA what that offer is? would they tell us, or do we just have to guess what that offer is and try to match it?
From the vendors point of view an offer made from a person still to sell is not worth the effort of it being made in the first place.
Are you in a position to proceed once you make the offer? If yes you are in a really good position with the other offer almost being irrelevant. If you have yet to sell why bother making an offer at this point?A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
I phoned up today to view a property for a 2nd time. The agent said it had gone under offer with another agent. But he seemed very keen for me to still view the property, almost inviting me to gazump. I had thought that they shared the commission amongst all the agents who had gone to the trouble of advertising the property, conducting viewings, etc. when a sale was made. Obviously I was wrong, and the agents are very keen to cut each others' throat to get the commission.
Thats the risk an EA takes when they accept a Multi Agency listing, of course they are keen to get the sale......if they don't sell it then they get nothing.
Nothing for you to get concerned about though, let the Vendor worry about that!.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0
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