Estate Agent Agency Agreement query?

staro30

Hi,
Our contract with EA states the following:

In accordance with the Code Of Practice following termination of our agreement, if a purchaser introduced by us or with whom we have negotiated goes on to buy the property through another agency, we will still be entitled to our fee if a Memorandum of Sale is issued by the other agent within 6 months of date of temination of our instruction and where exchange of contracts takes place. In all other cases, we will still be entitled to our fee for an exchange on contracts occurring up to 2 calendar years from termination of our agreement.

Can someone explain by way of eaxample the last sentence?

Thanks
Staro

G_M

It's poor wording.

It states that they get paid if there is any exchange within 2 years.

However, I believe the intention is to make their fee payable if,

* within 2 years
* a buyer they introduced during the agreement period
* and who was not involved with another agent

exchanges.

As opposed to the previous sentence which makes the fee payable if another agent takes over dealings with the buyer in which case the 6 month time limit applies.

staro30

Is this normal?
Our previous EA just had the 6 month clause.
I still don't quite get it! Sorry!
Staro

G_M

Don't know if it's normal now. Get a couple more EAs round (common sense to do that anyway) and compare.

But if they introduce someone who later buys it does seem fair that they get paid. Whether the tim limit should be 6 months. a year, or 2 is debatable.