Can estate agent reduce asking price without my consent?

csgohan4

your house is overpriced, if it wasn't you would have had more interest by now.

moneyistooshorttomention

I'll agree with everyone else - the EA should not have done that without your permission.

.....but a six month notice period should have alerted you at the outset that they want it all "their way".

When I sold my last house they suggested what price they thought and I told them what it would be. I was the one that did subsequent price amendment. Their job to do as I told them to.

There wasn't a contract for a specified length of time. I only had to give one week notice if I decided to change EA and only had to pay fees due to them after they had successfully done their work and sold my house.

Sorry - this EA saw you coming.

Davesnave

You will find it was either "an administrative error," or that they want rid of you.

Surrey_EA

A 6 month contract period, and the fee paid up front?? Blimey :eek:

moneyistooshorttomention

Davesnave wrote: »

You will find it was either "an administrative error," or that they want rid of you.

I rest my case here - ie seems you are more cynical than me:rotfl:

But you may be right - they've had their money (those fees upfront:eek:) and now make room for the next mug....

Westminster

Hoopylass wrote: »

Houses are very slow to sell where I am ... majority of properties have been for sale for average of 8-9 months.

Anyway the length of contract is not really the issue here.

Planning to phone them tomorrow .... Am I entitled to any money back for breach of contract? Fee paid upfront.

Fees paid upfront?

I'm afraid to say that it appears they saw you coming and a 5k reduction in the marketed price is the least of your concerns.

Just because the house is listed at 5k less, doesn't mean you are compelled to accept an offer at this level and I imagine it is a tactic to try and drum up some interest.

Doesn't mean they were right to change the advert without your agreement.

Were you shown the original raft advert / pictures etc before they went live?

hazyjo

Was it an online agent?


Check the contract you signed. They may well have a clause stating if you've not had an offer within 6 months, they reserve the right to drop the price up to X amount.


Jx

parkrunner

hazyjo wrote: »

Was it an online agent?


Check the contract you signed. They may well have a clause stating if you've not had an offer within 6 months, they reserve the right to drop the price up to X amount.


Jx

From the op, note the word MAY.

terms state that if marketing is to continue beyond this point then a revision in price MAY be suggested ...

eddddy

Surrey_EA wrote: »

A 6 month contract period, and the fee paid up front?? Blimey :eek:

I suspect it's an online agent. And I suspect it's not a 6 month tie-in.

More like... you pay the fee and the property will be advertised for up to 6 months.

I suspect that you are free to terminate at any time during the 6 months. (The agent wouldn't care - they have their money.)

hazyjo

parkrunner wrote: »

From the op, note the word MAY.

terms state that if marketing is to continue beyond this point then a revision in price MAY be suggested ...

Blonde moment this morning!


If it is an online agent, you'll probably find you have to pay their whole fee again too.


Jx