Agents terms

mistertea

Hi, looking for advice please on estate agent terms. Agent 1 wants a minimum 12 week Sole Agency agreement with a two week notice period. Agent 2 claims to only act on Sole Selling Rights, with a two week notice period but no minimum contract term. Both agree to 1% commission. I have not yet signed. On balance I prefer agent 2.

However, I have a potential private buyer who has viewed my property, is keen, but cannot yet proceed as they are just about to get their own property on the market.

Is it possible to have a potential private buyer excluded from a Sole Selling Rights contract? I know I can do this with a sole agency contract but would really prefer to use agent 2.

Thanks for any input

eddddy

mistertea wrote: »

Is it possible to have a potential private buyer excluded from a Sole Selling Rights contract?

Anything is possible. It's a matter of whether the EA agrees to it.

Perhaps your best hope of negotiating this is to say to agent 2 that unless they agree to your condition, you will go with agent 1.

(Also, check the contract for withdrawal/termination fees.)

FWIW, agent 1 is asking for a minimum of 12 weeks. You can probably negotiate that down as well.

G_M

mistertea wrote: »

Hi, looking for advice please on estate agent terms. Agent 1 wants a minimum 12 week Sole Agency agreement with a two week notice period. Agent 2 claims to only act on Sole Selling Rights, with a two week notice period but no minimum contract term. Both agree to 1% commission. I have not yet signed. On balance I prefer agent 2.

....

Is it possible to have a potential private buyer excluded from a Sole Selling Rights contract? I know I can do this with a sole agency contract but would really prefer to use agent 2.

Of course it's possible provided the agent agrees. Get it wryiten into the contract,.

Contracts are not like the Gospel - they can be changed to whatever the 2 sides agree.

ThePants999

Well... draft/proposed contracts aren't like the Gospel, anyway

(Woohoo, thousandth post.)

mistertea

Thanks all. I was just unsure about the whole sole selling rights vs sole agency and whether that would prevent a clause for a direct/private buyer. I just emailed agent 2 and told them that if they accept the clause they get the nod.