All going wrong EA's and their agreements!!!

Gizzygirl

Hi All,

Well things are all going very wrong and I need some much needed advice (Legal advice would be great).

We signed to sell our house with an agent. Subsequently we thought that we could not get the mortgage so took it off the market - less than 24 hours later. A couple of weeks went by and we worked things out with mortgage provider, so then we could move yay!:j

Then we made a mistake (we now realise) we signed up with a different agent at a slightly lesser percentage (we were not keen on the first agent).

Now the first agent called us today wanting to know why we have it on the market with someone else? They are saying that basically either we sell it with them or we take it off the market.

When we said about the other agreement we had entered into with the second agent Mr first Estate agent said that this would be null and void since we had already signed with them on a sole agreement at an earlier date. Is this true? Since we have been with the second agent we have had 3 viewings and no sign of any offers. So if we could get out of it it may be a blessing.

Please help. We really want to move and would hate to have to wait until after crimbo.
Thanks again everyone

Gizzygirl (sobbing in her boots as we speak - what a pickle!!!:o )

lilyann1

Firstly how long did you sign with the first agent for??? I think they may enforce it,that you stay with them for the period you originally agreed and do not forget to give them the notice to end the agreement, like we forgot to as that will prolong their agreement.

I do NOT LIKE EA's full stop and we may have a problem with our first agent,we did from the start they are supposed to be working for us and in our best interests and they did nothing but and even said they only want their fee!!!!

Gizzygirl

Absolutely! They have even said that they will follow us until we either sell with them or pay up!

Honestly seems as if we have no choice but to take it off the market. Then neither agent wins anything Are all estate agents ths pleasnt?

both agreements were 14 weeks. The EA that we signed with first said if we changed our minds we could do so within 7 days...but now they are denying this!!:mad:

MissMotivation

If you signed a Sole Agency Agreement with Agent One then you are tied into that contract for the specified period (6,12,16 weeks etc). If Agent Two was to sell your property within the time period specified by the original sole agency agreement then you will be liable for both sets of fees.

Unfortunately there is nothing you can do to get out of the first agreement. Your choices are

a) Keep on market with current agent and hope that they don't sell it within the specified time period.

b) Keep on market with current agent and if they do sell it within time period pay both sets of fees.

c) Ask if both agents would be willing to convert to a Multi Agency Agreement (highly unlikely)

d) Take it off the market completely, wait until period expires and then put it back on the market.

HTH

Gizzygirl

Thnakyou Missmotivation!!!

That is kind of what we thought. Do you know if what out first agent said is right? He said that the 2nd agreement we entered into would be null and void because of the original agreement signed first.

Thanks
Giizygirl

lilyann1

QUOTE:=
The EA that we signed with first said if we changed our minds we could do so within 7 days...but now they are denying this!!

Of course they deny it thats what they all do!!!!
We are in the same situationa nd we do not have anythng in writing to testify to their bad behaviour just our word against theirs.
Why is it EA's always win as their word is taken over ours???

I think you are tied like Miss Motivation says.

MissMotivation

Gizzygirl wrote:

Thnakyou Missmotivation!!!

That is kind of what we thought. Do you know if what out first agent said is right? He said that the 2nd agreement we entered into would be null and void because of the original agreement signed first.

Thanks
Giizygirl

He is wrong, both agreements are valid. He is annoyed that you didn't go back to him when you went back on the market.

Was there any reason that you chose to go on market with Agent 2 ?

MissMotivation

Obviously what I'm about to point out will be of no use to you now but a decent EA would have gone through the contract with you point by point, I do with all my clients, in fact it usually takes me a good 5/10 minutes to explain what they are signing into before they sign.

If the agent quotes something that is not in the contract then make them write it in before you sign it.

Gizzygirl

Hi all

Lilyann1 - nice to know that there are other people in the same situation. this house business is soo stressful and ea's dont exactly help matters!!

Unfortunately i guess that most EA's are not as truthful/upfront as Missmotivation.

I think we will probably take it off the market and wait until after xmas when the 2 contracts run out.

MissMotivation - any suggestions of finding a good EA? are there any hard and fast rules? the 2nd agent was used by a friend and they seemed ok at the time...

MissMotivation

First and foremost I would always go on a personal recommendation, this is not 100% foolproof but it's a good starting place.

Having worked for a large corporate estate agency (albeit very briefly) I would avoid them like the plague! High commissions and high staff turnover do not equal a good selling/buying experience!

Always get at least 2 valuations carried out, take time to speak to the valuer, ask questions not only about how much they think the property is worth and their fee but also about how the complany works, what experience have they had, how they will market your property, what professional bodies are they members of.

Mystery shop the agents you have in mind, see how they treat buyers, If they appear disinterested then this is how they will be treating your potential buyers!.

Don't just sign up with the cheapest agency, these generally work on a quantity and not quality basis!

A good agent will be able to explain things to you in a clear and concise way, they will also be able to justify their valuations with comparable evidence, they should be willing to spend as much time as needed with you.....selling your home is an important decision and the process can be difficult and stressful, this is where a good agent is worth their weight in gold!!

PoorDave

Would the second contract be void because it would be a sole agency agreement, but you already had a contract for the same with the first one?

That is to say you have inadvertantly misled the second agent into giving you a sole agency agreement.