estate agents contract

maddie2750

Right I have been a bit of an eejit.

After 11 months with one estate agent, and 4 buyers falling through just before exchange of contracts, I decided I'd had enough and needed a change, so I wrote to them saying I was withdrawing my house from them with immediate effect. I then put my house on the market with another agent, who sold it.

First agent are now on my back for their fee as it's in the contract I need to give them 14 days written notice after the initial 8-week contract was complete (yes I know I should have read the small print).

Anyway, has anyone else been caught like this, is there anything I can do to get out of it, and will they chase me for their full fee.

Cheers

no1gymbunny

Unfortunately, you do have to give 14 days written notice.

When you signed up with the second agent you will have incurred a higher fee anyway. Check the second agent's contract - is it Joint or Multi Agency? If it's Joint then the fee will be split between the two, with the higher share going to the selling agent (usually two thirds/one third split). If it's Multi then winner takes all.

MissMotivation

I am a little confused?!?! If you had been on the market for 11 months then you would have been out of the initial 8 week sole agency (if that is what you signed) you may have to give 14 days notice but if you were out of the sole agency period then you do not have to pay the first agent.

Of course I can't be 100% sure of this because I haven't seen the contract you signed, however, it's highly unusual for the first agent to be able to claim a fee.

HTH

sandgrownun_2

Maddie, I would phone first agent and say "I accept you are pursuing me for a fee you believe I owe you."
"I do not believe this is a fair course of action,and therefore I intend to defend myself throughout any legal action you may bring as a matter of principle.
Throughout any proceedings I will endeavour to inform the people of this town of the facts.---which is.......whilst my property was on your books ,you allowed four sales to fall through.Its amazing how many people are interested in property these days,and everyone wants to know the best local agent to use."
You cant be sued for stating good old hard facts.
STAND FIRM.

MissMotivation

sandgrownun wrote:

Maddie, I would phone first agent and say "I accept you are pursuing me for a fee you believe I owe you."
"I do not believe this is a fair course of action,and therefore I intend to defend myself throughout any legal action you may bring as a matter of principle.
Throughout any proceedings I will endeavour to inform the people of this town of the facts.---which is.......whilst my property was on your books ,you allowed four sales to fall through.Its amazing how many people are interested in property these days,and everyone wants to know the best local agent to use."
You cant be sued for stating good old hard facts.
STAND FIRM.

Yes, i'm sure that the EA knowingly allowed sales to fall through, I mean they obviously didn't want to get paid for any work they had done up until that point!

I'm sorry but quoting what the last poster said is not going to get you out of paying fees......just make you look silly!

maddie2750

Thanks for the replies, people. I did believe that after the initial 8 weeks sole agency I could withdraw at any point, but after checking it does say that after that period you are still required to give 14 days written notice - of course it's so long since I signed the bl**dy thing it's no wonder I didn't know!

I've already lost money on surveys and mortgage for one house which i missed out on cos the sale on mine fell through, which was the estate agents (well their mortgage broker's) fault, as he failed to tell the buyer there was a retention on his mortgage til one day before we were due to exchange and it all went pear-shaped from there. And I was about to lose another house which is why I went to the other estate agent so quickly, so hopefully I won't lose that one.

But I spose I'll learn the hard way to always read the small print.

Madsforit

sandgrownun_2

I am sure an independant agent would never knowingly allow four sales to collapse.Fees are their lifeblood---granted.
But in this instance Im sure he /she was depending on staff,as are all ea`s.
If he/she was playing fair then his/her staff would be motivated.
Sadly too often those at the coal face are ignored and left to their own devices.
I do speak from a wealth of experience,and Maddie you have nothing to lose by giving it a go .
I DID AND IT WORKED.

MissMotivation

No problem with giving 14 days notice but normally the EA can only a claim a fee for a buyer who proceeds to exchange of contracts during the sole agency period. Therefore as long as you are out of the initial 8 week period you shouldn't have to pay the first agent. Can you find the original contract? If so, post the bit that talks about fees and I will advise further.

HTH

Jorgan_2

In most agents contracts there is a bit that says something like 'sole agency contract for a period of x weeks from (date) and I agree to give X days notice to terminate thereafter'.

This is probably were you have tripped up, the contract roles on until it is terminated in writing. Unfortunatley, you told the agent that you were withdrawing the property with immediate effect. If you had done this & instructed the other agent after the 14 days had elapsed you shouldn't have had a problem.

Have you actually tried talking to the agents concerned to see if this can sorted?