Estate Agent Fee Query

linde_2

We switched agents when our agreement with the first ended. The first agent had a client, who made an offer , which we turned down.

A few months later with new agent, same client selling his property discovered our property is back on the market, he made an offer, we accepted, what I'd like to know, are we liable for any commision to the other agent? Agent 1 was a sole agent and when agreement ended, agent 2 is also a sole agent.

brock-cruse

Hi
Be careful there is a possibility that you will be charged by each estate agent as the first one could say that they inmtroduced your buyer! What does evryone else think? Did you not give a list of interested parties to agent 2?

homer_j_3

As agent 1 introduced the client to you, they will be looking for the fee as that is what they are paid for - finding you a buyer.

I work in an EA and we get this all the time - both from agent 1 and 2's position.

Before I started in the EA world, my Mum got stung with this too and was being asked for 2 lots of fees. If you speak to the NAEA http://www.naea.co.uk/help/complaints.asp and ask about how they would expect both agents to act in terms of being paid before you accept the offer then it could pay dividends.

linde_2

brock-cruse wrote: »

Hi
Be careful there is a possibility that you will be charged by each estate agent as the first one could say that they inmtroduced your buyer! What does evryone else think? Did you not give a list of interested parties to agent 2?

No, we didn't give a list of interested parties to 2nd. We weren't interested in any offer of the buyer at that point, his situation was not favourable.

linde_2

homer_j wrote: »

As agent 1 introduced the client to you, they will be looking for the fee as that is what they are paid for - finding you a buyer.

I work in an EA and we get this all the time - both from agent 1 and 2's position.

Before I started in the EA world, my Mum got stung with this too and was being asked for 2 lots of fees. If you speak to the NAEA http://www.naea.co.uk/help/complaints.asp and ask about how they would expect both agents to act in terms of being paid before you accept the offer then it could pay dividends.

Would agent 1 be expecting their commision or will it be a different fee?

btloptingout

I would be open and up-front about it and find out the lay of the land with the two agents.

Make clear you will not proceed (I'm assuming you wouldn't here!) with this buyer on the basis of two fee's but you will be willing to pay both a share of the one fee.

Given the choice between losing a buyer and a guaranteed 1/2 fee I know what I'd choose.

homer_j_3

agent 1 has the right to ask for the full fee you agreed to in the agreement you made. I can't see them sharing it with Agent 2 to be fair but you have to talk to these people and do not accept the offer until you are satisfied with what is payable.

I think the fairest way in these situations is to say to agent 2 that they have to find a buyer with a higher and stronger offer if they want paying. Its part of the game really but check your rights and speak with all involved including the NAEA as a sense check for what you are being told

linde_2

Thank you very much for all the advice. You learn something new everyday don't you?

Home_ I'd like to ask another question if that's ok?
We had 8 week contract with EA1 (small print says 16 days written notice should be given, we only realised now), if EA 2 introduces a new buyer before/after notice period are we liable to EA1 for commision?

homer_j_3

to my understanding - commission will only be claimed by agent1 where they can prove that they originally introduced the buyer. The agreements are made this way to stop buyers using the agent to get a buyer and then doing a different deal to avoid commission