Estate Agent Clause Interpretation

ThePants999

I'm with eddddy. This is totally standard.

(a) defines "period" as meaning the agent's period of sole agency, i.e. from the start of the agreement until it is terminated. (b) simply refers to that same definition. I consider this fairly clear: you're liable to this agency if a buyer who was introduced while the agreement was in effect, exchanges either while the agreement is still in effect or within six months of the agreement terminating.

AnotherJoe

ThePants999 wrote: »

I'm with eddddy. This is totally standard.

(a) defines "period" as meaning the agent's period of sole agency, i.e. from the start of the agreement until it is terminated. (b) simply refers to that same definition. I consider this fairly clear: you're liable to this agency if a buyer who was introduced while the agreement was in effect, exchanges either while the agreement is still in effect or within six months of the agreement terminating.

Would have been much better if your clear words were used instead of theirs in that case !

steampowered

I guess we'll just have to agree to disagree.

When I read the clause, it reads clearly to me that the EA gets paid if (A) or (B) happens during the agreement or 6 months after.

If "that period" only meant the term of the agreement, the reference to six months would be meaningless.

Seller

I have written to my current agent, who of course has not replied. We shall see what happens when the notice period expires on Friday. If they don't supply a list of people interested I guess that makes them in breach of the TPO Code of Practice for Residential Agents?

Incidentally the COP states:

5r At the time of accepting instructions from a seller, you must
point out and explain clearly to that client in your written
Terms of Business:
• that you may be entitled to a commission fee if that seller terminates your instruction and a memorandum of sale is issued by another agent to a buyer that you have introduced within 6 months of the date your instruction ended and where a subsequent exchange of contracts takes place.
If no other estate agent is involved this time limit extends to 2 years.
• and that the seller may be liable to pay more than one fee if:
• that seller has previously instructed another agent to sell the same property on a sole agency, joint sole agency or a sole selling rights basis; or
• that seller instructs another agent during or after the period of your sole agency, joint sole agency or on a sole selling rights basis.
5s At the time of the termination of the instruction, you must explain clearly in writing any continuing liability the client may have to pay you a commission fee and any circumstances in
which the client may otherwise have to pay more than one commission fee.
5t Your action in pursuing a commission fee or additional charges must be proportionate and reasonable and not intimidatory.
5u Although nothing precludes you taking court action to pursue payment of your commission account, it is generally expected that you will not take court action when a complainant has
referred the matter to the Ombudsman. If however you do pursue payment of your commission fee through the courts you must agree to the Ombudsman considering any outstanding service related complaints after the court action has been determined.