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Estate Agency fees have changed
Fuji
Posts: 15 Forumite
When we chose our estate agent we agreed a flat rate fee of £1000 if they sold it. After 4-5 months, we hadn't had many viewings so went joint agency with another estate agent whose fees were 1.25%. Rather than split the fees between themselves, they agreed it would be on a 'winner takes all' basis. Both EA's then found buyers but we ended up selling through our original EA.
Our original EA have now listed their fee as 1.25% rather than the £1000 we agreed. The difference is over £500. I'm sure we have the original contract but it still needs to 'surface' after our move.
I've spoken to the EA and they have said that when we went joint agency their fee changed to match the other EA's fee. This doesn't sound quite right to me, as we didn't sign a new contract to confirm this.
We get on very well with the EA, but I'd just like to know if other people have been in the same situation, and more importantly, how they handled it.
Thanks in advance
Our original EA have now listed their fee as 1.25% rather than the £1000 we agreed. The difference is over £500. I'm sure we have the original contract but it still needs to 'surface' after our move.
I've spoken to the EA and they have said that when we went joint agency their fee changed to match the other EA's fee. This doesn't sound quite right to me, as we didn't sign a new contract to confirm this.
We get on very well with the EA, but I'd just like to know if other people have been in the same situation, and more importantly, how they handled it.
Thanks in advance
0
Comments
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Don't see the point anymore in offering advice to people who only want to be agreed with...0 -
It is quite usual for terms & fees to change when you switch from sole agency to a shared/multi agency basis. When you decided to switch you effectively changed the terms of the original contract that you had agreed with the first ea, so they are within their rights to change the fee structure.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Thanks for the prompt replies - I thought that this might be the case. I guess I should have confirmed this at the time.
Are they required to have this information in their T&C's ?0 -
It sounds like you agreed the changes verbally (possibly confirmed in writing by both agents...?), either way, the contract terms changed when you agreed bringing in the multi-agency, so what is in the standard T&C would not be relevant as these are modified by your specific agreement...
You really need to find what you have in writing or I suspect as others have suggested it is reasonable for you to pay up on the basis of the 1.25%0
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