estate agents

ricky_D

If I cancel my contract with my estate agent within 14 days can they stop me advertising with a new estate agent for 20 weeks, as my estate agent has said this. Thanks

MrJB

What does your agreement state? Did it feature a cooling off period? or did you sign it remotely without a face to face meeting? What was the basis of agency? Ie was it sole agency, sole selling rights etc?

I'm sure they cannot stop you from advertising it with another agent, you just may be liable to pay two lots of commission.

McClane54

Can they heck! tell them to do one!

kaflinkle

Yes they can, my dad thought he'd pull a fast one and ended up having to pay and associated costs as it went to court. It was a very large well known chain.

At the end of the day it depends what your contract states and whether you want to risk it or not.

walwyn1978

I very much doubt it, but check the small print on the contract you presumably signed with the EA.


You did read the small print, right?


Mr JB has probably nailed it though - you may be liable for two lots of commission, that may be where the 20 week window comes into play (eg if the house sells within 20 weeks of you being on the books of the other agent?)

PasturesNew

It depends on the detail.

In broad principle, if you signed the contract in your own home, you will have the 14 day cooling off period.

If, however, you're trying to dip out of paying a commission as you've sold it to somebody (who might/might not have been introduced by an agent) .... then that is when you might come a cropper and get billed for it anyway.

So:

- Where did you sign the contract?
- Are you trying to dip out of paying a commission as the house has a buyer now?

Sometimes there's some swift footwork done by people, buyers, sellers, agents as the buyer's on both sets of books, but the seller prefers the first agent etc etc ..... does this apply at all?

DaftyDuck

You may also sign to waive your right to cancel using the 14 day cooling-off period, which frees the agent to begin marketing immediately. However, in these circumstances, your cancelling would only allow them to claim reasonable costs, not the full amount stated in the contract. So, tread carefully; it may not be as clear-cut as one might first think.

mrginge

DaftyDuck wrote: »

You may also sign to waive your right to cancel using the 14 day cooling-off period, which frees the agent to begin marketing immediately. However, in these circumstances, your cancelling would only allow them to claim reasonable costs, not the full amount stated in the contract. So, tread carefully; it may not be as clear-cut as one might first think.

You cannot waive a right to cancel since it is statutory. You can waive a right to delay the marketing until the end of the cooling off period, on the understanding that you become liable immediately. Which is pretty much what you said lol.

The question of how much liability would depend on the level of completion of the contract. In general terms this would be for the recovery of costs to date, but theoretically if the contract was completed (e.g an exchange happened on day 10) then the full fees would be due. Not really likely tbh though...