Re: Estate Agents

zipwen1

check your contract for a sole agency agreement if there is none then you can sell privately even if you are still with the EA

Mrs_Arkwright

What does 'joint sole agency' mean? I thought you had either sole agency, meaning one agency, or multi-agency, meaning more than one.

zipwen1

with regards to above post
What it means is that you appoint two agents to share the exclusive right to sell your property. A sole agent means just that—you appoint one agent to sell the place and he gets the fee for doing it.
But local agents have a constrained constituency: an agency based in Stroud may not reach potential purchasers in Painswick, for example. So the trick is to appoint one local agent to work jointly and exclusively with a national agent. The two agents split the fee, whoever actually sells the property.

chops05

In the area that I worked when you sign a joint agency agreement, the agent who sells the property gets the fee. There is no splitting of fees, the agent gets the fee that they have negotiated eg 2% of sale price

painted_lady

I bought a property off my brother, we just used solicitors. I later sold it through an estate agent, it said in the contrct that I dont pay if it doesnt sell within 6 months and I chnge my mind, before 6 months, I had to pay £150.

zipwen1

chops05 wrote:

In the area that I worked when you sign a joint agency agreement, the agent who sells the property gets the fee. There is no splitting of fees, the agent gets the fee that they have negotiated eg 2% of sale price

someone asked about 'joint sole agency agreement' not 'multiple agency agreement'

chops05

zipwen1 wrote:

someone asked about 'joint sole agency agreement' not 'joint agency agreement'

This is classed as the same thing. Well it always was in the agency that I worked in

damien

something I forgot to mention, the agent was standing outside our house talking with our only viewing, she was explaining to them that they were struggling to get people to view our house! that it needed quite a bit of work doing e.t.c.
I'm not sure how this will help to sell a property?

zipwen1

chops05 wrote:

This is classed as the same thing. Well it always was in the agency that I worked in

yes thanks for correcting i was supposed to correct the Pearson i was replying to she was on about multiple agency where they don't split the fees but said joint agreement instead, which she said, confused you should be

chops05

Doesn't take much to confuse me lol!! :rotfl: