We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Sole agency v sole seller
keke74
Posts: 8 Forumite
Hi all
Regular reader here - but less frequent poster on all things MSE!
I have a contract from a local estate agent in front of me, one that should be 'sole agency'. However, I think the contract they have given me is 'sole selling rights'. Here's what it says
"If we act as your sole agent, you will be liable to pay the sole agency fee below to us in addition to other costs or charges agreed if, at any time, unconditional contracts for the sale of the property are exchanged
a) with a purchaser introduced by us during the period we act as your sole agent or with whom we had negotiations about the property during that period or
b) with a purchaser introduced by another agent during that period
c) For the avoidance of doubt, should you be aware of any potential private buyers you must provide us with their details before signing the agreement to ensure that you do not become liable for a free. Should you become aware of a private buyer while we act as your sole agent then they must be referred to us so that we may negotiate with them on your behalf"
This looks to me like a sole selling rights contract. Am I correct?
The estate agent has got very defensive over this when I have challenged her. I've referred to the Which and Home Owners Alliance definition of Sole Selling Rights but she still claims that this is a Sole Agency contract.
Am I right to be careful before signing this contract?
Regular reader here - but less frequent poster on all things MSE!
I have a contract from a local estate agent in front of me, one that should be 'sole agency'. However, I think the contract they have given me is 'sole selling rights'. Here's what it says
"If we act as your sole agent, you will be liable to pay the sole agency fee below to us in addition to other costs or charges agreed if, at any time, unconditional contracts for the sale of the property are exchanged
a) with a purchaser introduced by us during the period we act as your sole agent or with whom we had negotiations about the property during that period or
b) with a purchaser introduced by another agent during that period
c) For the avoidance of doubt, should you be aware of any potential private buyers you must provide us with their details before signing the agreement to ensure that you do not become liable for a free. Should you become aware of a private buyer while we act as your sole agent then they must be referred to us so that we may negotiate with them on your behalf"
This looks to me like a sole selling rights contract. Am I correct?
The estate agent has got very defensive over this when I have challenged her. I've referred to the Which and Home Owners Alliance definition of Sole Selling Rights but she still claims that this is a Sole Agency contract.
Am I right to be careful before signing this contract?
0
Comments
-
Yes.
Cross out c) above and initial the change in the contract, and get the agent to do the same in the copy you keep.
Or use a different agency if they won't give you the contract you want.0 -
Thank you! The estate agent used all the tricks in the book, one of which was "never in my 16 years of working in this business have I ever had anyone ask me to edit this contract".
Words fail me!0 -
Personally (and the agent my well have an issue with this) I would also strike out the fee being due to a ready, willing and able buyer and change to "on completion". I did this the last time I sold a house, but I can understand why EAs may not do this.
EDIT: I am of course assuming this is also in your draft contract.0 -
Not really necessary as I suspect OP won't be using that agent!TrickyDicky101 wrote: »Personally (and the agent my well have an issue with this) I would also strike out the fee being due to a ready, willing and able buyer and change to "on completion". I did this the last time I sold a house, but I can understand why EAs may not do this.
EDIT: I am of course assuming this is also in your draft contract.0 -
Thankfully the 'able and willing' term wasn't in the contract, it was just just the term they added under c) which I couldn't agree to.
I'm glad I've found people on here that share my cynicism of these contracts; I was made to feel difficult for questioning the terms of this contract.
I've now got a new agency coming round to do a valuation this weekend. Suffice to say they have confirmed that no such 'sole seller' clause will be in their contract!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards