Estate Agent & Buyer Dilemma. Advice needed.

van22663

My parents home is on the market & I recently changed estate agents for various reasons.
However, a viewer from the first estate agent has contacted me & made an offer. The current estate agent has given me a sole agency agreement which I have signed but not sure if current agent gets the sale or if the first agent can claim the buyer ???
Any advice would be appreciated.
Thank you

ognum

When this happened to me the first estate agent got and managed the sale, the second agent fully understood this, it happens frequently.

The second agent insisted on keeping the house on there website and on Rightmove but did not show anyone just kept the details of enquires.

Hope this helps.

mail2z

Estate agents will not lose any possibility of getting any commission from you. So probably the first agent and the second agent will seek commission. If there is any way to terminate contract earlier with the second agent do that before accepting the offer from the viewer. This way you can save one set of commissions.

eddddy

mail2z wrote: »

Estate agents will not lose any possibility of getting any commission from you. So probably the first agent and the second agent will seek commission. If there is any way to terminate contract earlier with the second agent do that before accepting the offer from the viewer. This way you can save one set of commissions.

This really isn't correct. The OP should read the specific contracts they signed - the contracts will almost certainly say that the EA that introduced (and/or negotiated with) the buyer gets the commission.

Ending an EA's contract before accepting an offer will have no impact whatsoever.

Hopefully, the buyer viewed through EA1 and made the offer through EA1 - so everything will be clear cut - EA1 gets the commission. But if the buyer viewed through EA1 and then made the offer through EA2, that could be problematic.

van22663

Thanks for your replies.
The viewer put the offer in through estate agent 1. I did not accept the offer at the time because he had not sold his own property. Few weeks later, I changed estate agents. The viewer contacted the new estate agent to arrange another viewing but they were not very helpful & said he had to view in office hours and not till next week.
By sheer coincidence, I bumped into the buyer at a local pub & he told me what had happened. I took him round to view again as he is now sold.
New dilema....buyer wants me to lose both estate agents & sell privately but I am worried that if I do that & his sale falls through...I am stuck.
Next dilema, do we go back to estate agent 1 who introduced the buyer or stick with estate agent 2 who are currently marketing the house.
If I stay with my current agent, do you think I would be be able to negotiate the fees as the client has not come through him.
I am reluctant to sell privately although I know it would be cheaper , just trying to do the fairest thing while hopefully saving a little in fees.
Estate agent 1 fees are alot less than current agent too !!
Hope its not too complicated. Thanks again.

Yorkie1

You won't save anything in fees - EAs will keep an eye on the sold details and will come after you for the fees.

van22663

Yes Yorkie, but who is entitled to the sale ?
EA1 or current EA ?

eddddy

van22663 wrote: »

Yes Yorkie, but who is entitled to the sale ?
EA1 or current EA ?

EA1 is due commissiom - because EA1 introduced the buyer.


The buyer was very foolish to try to talk to EA2 about your property, having been introduced by EA1. (And assuming EA2 is a reputable agent and the buyer mentioned he had already viewed the property, EA2 should have sent the buyer back to EA1.)

If you want to do everything correctly, you should:

- inform EA2 that you are selling to a buyer introduced by EA1 during EA1's sole agency period (and therefore intend to pay no fees to EA2)

- inform EA1 that you are selling to a buyer they introduced (and therefore intend to pay EA1's fees)