Private sale and EA fees

Jaynorth_2

I have my flat for sale via an EA on rightmove, this is my 3rd estate agent and although they seem to be getting me viewings, I get the impression that the people that they are bringing round are either just browsing or not really interested. So, I have started marketing it myself to colleagues, friends and friends of family etc... making them all aware that there is more scope for negotiation of price if a private sale is agreed. The question I have is if this works and a private sale is agreed, will I still be liable for the EA fees?

thanks
jay

shiny76

You'd need to look at the contract you signed with the EA.

Jaynorth_2

shiny76 wrote: »

You'd need to look at the contract you signed with the EA.

Okay thanks, I know my sole agency period is coming to an end in the next week and I am on a 7 day notice period with them so I could in theory just give them 7 days notice if I find a buyer and take things from there.

Good_Money

when the sole agency period is up then exterminate the contract and then you won't have to pay estate agents fees.

hazyjo

Double check they've not contacted your EA regarding your property (or viewed it before - but presumably you'd be aware of that).

If you do find anyone remotely interested at this stage, don't let them contact the EA for property particulars/quesitons, etc just in case they claim it constitutes an 'introduction'.

Surely anyone looking seriously though would already be looking on RM and see your property?

Good luck. Could always try an online EA if all else fails.

Jx

Jaynorth_2

Good_Money wrote: »

when the sole agency period is up then exterminate the contract and then you won't have to pay estate agents fees.

Yes but I would still like the option of them marketing my property just in case they bring in a buyer and in case my method fails.

cattie

If you are getting the viewings but no offers then it's not the ea that is at fault, it's the price of the flat that needs to changed.

How long has it been on the market?

Jaynorth_2

hazyjo wrote: »

Surely anyone looking seriously though would already be looking on RM and see your property?

Jx

True but maybe they do not know that I am open to offers which I would not be open to under normal circumstances due to the EA fees.

They priced my property originally back in March at 10k higher than it is right now but I did not go with them and priced it at 5k lower, now 4 months down the line I have dropped it by a further 5k and I am with them after they promised everything under the sun only for them to now hint at maybe I should consider dropping the price a bit lower or putting a range which everybody knows is just rubbish, and they know I cannot accept beyond a certain price due to their fees.

Jaynorth_2

cattie wrote: »

If you are getting the viewings but no offers then it's not the ea that is at fault, it's the price of the flat that needs to changed.

How long has it been on the market?

Since March ...

Good_Money

I was talking to an estate agent friend and she said it normally all goes a bit quiet in August with people concentrating on having a holiday.

Jaynorth_2

Good_Money wrote: »

I was talking to an estate agent friend and she said it normally all goes a bit quiet in August with people concentrating on having a holiday.

Yes I agree with this and if I had been on the market for only 2 months then I would probably not be too bothered but it has been 4 months and I have already lowered the price so it is frustrating especially after all of the promises that my EA gave and now that he has started hinting at price again just makes me wonder about getting rid of him so that I can make a further price adjustment.