Finding My Own Buyer - Estate agents?

Jonny_B_3

My house is on the market with an estate agent.

Spoke to a friend yesterday who said he was house hunting for exactly what we're selling.

He hasn't even looked at it yet so he might not even like it. Just wondered where it left us with the estate agent.

According to the contract we are liable to pay them for the sale of the property to a purchaser introduced by them. I've read elsewhere (on the BBC) that we would still be liable to pay the estate agent, even though they didn't introduce him and he hasn't been to get the details off them. (Ive worked with him for 2 years).

Anyone know the answer? Thanks in advance!

Doozergirl

If they are instructed and referred to in the contract as 'sole agent', you would not have to pay the agent if you sell to a friend. Most contracts are like this.

Altarf

Depends on whether you have given the agent sole selling rights or sole agency.

With sole selling rights you still have to pay the estate agent, but with sole agency you don't provided he has nevever been in contact with the estate agent and he did not find out that the property was for sale by anything the agent did, such as newspaper adverts or a board outside the house.

Agents don't like losing their commission though and some of the big firms have been running 'Project Gotcha' where they have been checking the Land Registry a few months after people take their house off the estate agents books to see who bought the house, then check to see if they ever had any contact with that person - if so 'gotcha' and a bill is in the post to the seller.

http://www.manchesteronline.co.uk/homesearch/latest/s/199/199494_agents_strike_back_at_commission_cheats_.html

lynzpower

if its a mate/colleague/ etc then you should be fine.

If that person has gone into the EA to get the photos/ details, then probably you will have to pay the EAs.

Jonny_B_3

Its sole agency.

He cant have the details yet as I only approved them this morning! Not sure if he's on their mailing list. Best tell him not too just in case.

Ian_W

I think I'd be inclined to put something in writing to the EA's, possibily even at this early stage, saying briefly what you said in post 1.
Then if they were to buy and some time later the EA tried a "gotcha" - you'd have written proof that they hadn't introduced them, even remotely like them seeing a For sale board.
A sort of a response to a "gotcha" of NO I "gotch - first"!!

Jonny_B_3

I see your point.

Equally I wouldn't want to annoy them for something that probably won't happen anyway.

I suppose it might be difficult for them to say they introduced him when I've worked with him in the same department for 2 years.

mr.broderick

How about if he buys it from you and you have no obligation to pay estate agents, give them a cheque for lets say £50 for full and final settlement just as a token gesture to say thanks for their efforts in trying to sell your house. If I was an agent id really appreciate that angle.

BargainJunky

If he is keen 'dump' your estate agents - give them notice that you have changed your mind about selling. If the friend does not buy you can always go back to the agents.

Jonny_B_3

Both good suggestions - cheers!

courtjester

Jonny_B wrote:

I see your point.

Equally I wouldn't want to annoy them (agents) for something that probably won't happen anyway.

QUOTE]

By all means work with your agents towards a common goal, but this comment is typical of the way people tend to view their agents - i.e. having to be careful not to upset the agent or do anything the agent might not like.

Is the agent working for you or are you working for the agent !!!??

An agent by definition shoud be doing as he /she is told by the instructing principle (you) within the terms of your agreement. An agent must do as instructed by you - too many people tend to allow themselves to be pushed around by agents as if the agent has some god-given right to be the one in charge.

Your agent should run your marketing campaign the way you want it run. You must of course be honest and it is good advice to write to the agent and tell them about any person viewing the property outside of the contracted terms - it is up to the agent to prove that they introduced any particular buyer if they wish to claim commission, not the other way around.