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Problems with estate agent - advice please
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pogweasel
Posts: 3 Newbie
Hi,
First post so let's hope I don't break any ettiquette rules!
We recently decided that it was time to move somewhere bigger, and found a really nice house nearby.
The estate agents selling advised that if we sold through them as well there would be distinct financial advantages, which was obviously of interest.
We arranged a meeting with the branch manager at our home to carry out an appraisal and discuss marketing, which all seemed to be OK.
However, we have subsequently discovered that the agent has tied us into a sole-agent agreement and tied us into an immediate start to the selling proceedure, in effect waiving our right to cancel with them. We have also discovered that the fee they are charging which they described as favourable is double what other agents are offering.
This is our first time at selling a property, and I guess the agent was wise to that.
However at NO TIME did he indicate that we were waiving our right to cancellation or that this was a sole agent agreement. We were rushed through the paperwork and as far as I was aware the paperwork was merely to instruct them, not to waiver any rights or to a sole agreement.
The agent DID NOT provide us with duplicates of any of these documents.
The agent is now taking the "tough luck" approach, saying that we've signed and that's that, we cannot advertise the house with anyone else or privately for the next 8 weeks, and that we should have checked the small print.
We have attempted to escalate the matter with the regional head office of this well-known chain , but they seem completely disinterested and do not return our calls.
Is there anything we can do at all?
The only solution I can see is if we take the house off the market entirely for the next 2 months, by which time the place we wanted to buy would inevitably be sold.
I find it very unsatisfying that the agent should behave in this way and it's already making a difficult process even more so. I find it odd that the agents will not admit that they are at fault and would rather lose out entirely on anything they might make on both sale & purchase from us, than be flexible.
Any advice gratefully recieved!!!
First post so let's hope I don't break any ettiquette rules!
We recently decided that it was time to move somewhere bigger, and found a really nice house nearby.
The estate agents selling advised that if we sold through them as well there would be distinct financial advantages, which was obviously of interest.
We arranged a meeting with the branch manager at our home to carry out an appraisal and discuss marketing, which all seemed to be OK.
However, we have subsequently discovered that the agent has tied us into a sole-agent agreement and tied us into an immediate start to the selling proceedure, in effect waiving our right to cancel with them. We have also discovered that the fee they are charging which they described as favourable is double what other agents are offering.
This is our first time at selling a property, and I guess the agent was wise to that.
However at NO TIME did he indicate that we were waiving our right to cancellation or that this was a sole agent agreement. We were rushed through the paperwork and as far as I was aware the paperwork was merely to instruct them, not to waiver any rights or to a sole agreement.
The agent DID NOT provide us with duplicates of any of these documents.
The agent is now taking the "tough luck" approach, saying that we've signed and that's that, we cannot advertise the house with anyone else or privately for the next 8 weeks, and that we should have checked the small print.
We have attempted to escalate the matter with the regional head office of this well-known chain , but they seem completely disinterested and do not return our calls.
Is there anything we can do at all?
The only solution I can see is if we take the house off the market entirely for the next 2 months, by which time the place we wanted to buy would inevitably be sold.
I find it very unsatisfying that the agent should behave in this way and it's already making a difficult process even more so. I find it odd that the agents will not admit that they are at fault and would rather lose out entirely on anything they might make on both sale & purchase from us, than be flexible.
Any advice gratefully recieved!!!
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Comments
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Did you sign a contract with them, or this is all verbal?0
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We signed a contract but I couldn't tell you what's in it as we were not given a copy.
As the estate agent is not being very 'friendly' now, we are struggling to get a copy.0 -
Ok...the worst bit about this is that you really should have checked whatever you were signing. Unfortunately, you've been had. How much is the fee? A sole agency contract is totally standard for most EAs, so don't worry too much about that, at least they haven't tied you in for 26 weeks like some agents do. I think the only way around this is to try and negotiate the fee, in return for you keeping your property on the market with them. Have they got you any viewings/offers? Are you happy with the marketing so far? If they get you a sale which allows you to buy the dream house, would the fee be worth it?Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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Oh, just seen on another thread that they can also charge you ££££ if you pull out before the end of the marketing period too!
This is just a total disaster.
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I honestly don't think 8 weeks is that long.... and of course there is nothing to make you accept any offer you receive within that 8 week period, if what you really want to do is walk away from this estate agent and go with another......0
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If I were you I would go in, be firm but polite and just ask for a copy of your contract. Point out that you are entitled to a copy, and don't leave without one. You'll be able to see what you may or may not be charged for then and we'll be able to help a bit better.Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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Ask in writing for a copy of what you were signing.
When you have it speak to trading standards saying you've been hoodwinked by these professionals who've mislead you. They will probably tell you to contact the governing body they are a member of.
Next time
DO NOT SIGN ANYTHING YOU HAVEN'T READ PROPERLY.
Ask to take things away and read them. If they refuse then assume they have something to hide.0 -
Hi,
First post so let's hope I don't break any ettiquette rules!
Welcome!!!
The estate agents selling advised that if we sold through them as well there would be distinct financial advantages, which was obviously of interest.
Of course they did - they want your business as well as the fee from the Vendor you buy from. Its a double whammy for an EA.However, we have subsequently discovered that the agent has tied us into a sole-agent agreement.
Thats pretty standard marketing with an EA on Sole agency - they don't want any other EAs involved as it makes it harder for them to get their fee from you.We have also discovered that the fee they are charging which they described as favourable is double what other agents are offering.
Why did you not ask them what their fee was? Even as a newbie to selling a house I'd think most people know that EAs charge different fees and to ask them what it is.This is our first time at selling a property, and I guess the agent was wise to that.
Unfortunately they sound like a bunch with few scruples who saw you coming.However at NO TIME did he indicate that we were waiving our right to cancellation or that this was a sole agent agreement. We were rushed through the paperwork and as far as I was aware the paperwork was merely to instruct them, not to waiver any rights or to a sole agreement.
Unfortunately you didn't read the paperwork thoroughly. I don't understand why you wouldn't take them time to do this as a house is the most expensive thing anyone will buy or sell in their lifetime (aside from jets and yachts maybe).The agent is now taking the "tough luck" approach, saying that we've signed and that's that, we cannot advertise the house with anyone else or privately for the next 8 weeks, and that we should have checked the small print.
Thats actually a short marketing time. Most are 12 weeks as sole agency so I suppose you are lucky in that sense.We have attempted to escalate the matter with the regional head office of this well-known chain , but they seem completely disinterested and do not return our calls.
Is there anything we can do at all?
The only solution I can see is if we take the house off the market entirely for the next 2 months, by which time the place we wanted to buy would inevitably be sold.
Did you realise that not returning calls is the most complained about problem with EAs in the UK? Go through their complaints proceedure, in writing. If they are members of the Ombudsman they have to adhere to certain codes of conduct.I find it very unsatisfying that the agent should behave in this way and it's already making a difficult process even more so. I find it odd that the agents will not admit that they are at fault and would rather lose out entirely on anything they might make on both sale & purchase from us, than be flexible.
Unfortunately I am of the opinion that both sides are at fault here. They didn't explain what they were doing to you BUT you didn't read a contract and 'just signed it'.
As you are tied in with them for 8 weeks, give them the time to market your house as I doubt they will let you out of this but do continue with the complaint you have. Do so in writing each time, keeping a copy of the letter you send each time. It'll escalate slowly, from Branch Manager to Area Manager to Regional Director to COO. Each time they will have 3 days to acknowledge your letter, then I think its 2 weeks to respond. If you remain unhappy at the response, you write to the next level up and so on. I know its tedious but you will, eventually, get somewhere.
The last thing an EA wants is a complaint they can deal with internally (and if they are a national chain then they will have proceedures in place) to be taken to the Ombudsman/professional body.0
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