What happens if I want to leave my estate agent because I’ve found my own buyer?

Dogsarethebest1

Hi all, had two purchases fall through (both 2 weeks before exchange). My house has been with my current estate agent for a year (we had a 16 week sole agency agreement). My husband and I are about to take it off the market because we are tired of being let down. We have lost two purchases because of buyers pulling out.
However, a neighbour has approached me, asking to view it. She approached me many months ago but we’d just sold a couple of days beforehand. She did not approach the estate agent.
I’m now thinking of withdrawing the property from the open market and allowing her to view it. Could I save on estate agency fees if I sell it to her after ending my agency contract? Is there a time that must elapse before selling the house, after an agency contract has expired?
I know I’d be liable for fees, had she ever had contact with the agent but she never has - only approached me verbally (twice now!) She literally missed out on it by days on her first attempt and is still genuinely keen.
Any advice much appreciated, thank you.

lincroft1710

Very carefully check your contract with the EA, it should state whether or not the EA would be due commission for a non introduced purchaser.

Dogsarethebest1

Yes, I need to dig out the contract. We live in a small village. Word has got round that we are fed up and are taking it off the market, hence why this potential buyer has hurriedly approached me again. It’s a tricky situation. £6000 in estate agent’s fees is a lot of money. I don’t begrudge them their money if they found the buyer but if I can save the money, I’d like to!

G_M

Dogsarethebest1 wrote: »

...... My house has been with my current estate agent for a year (we had a 16 week sole agency agreement). My husband and I are about to take it off the market because we are tired of being let down. ........... Could I save on estate agency fees if I sell it to her after ending my agency contract?
.

* so your minimum contract perio was 16 weeks.
* 16 weeks has passed
* what is the required notice period?
* serve notice and wait for the (2? 3? 4?) week notice period to expire.
* what does the contract say about buyers introduced by the agent during the ontract period who purchase later outside the contract period?
* did your neighbour become aware that you were selling after seeing the agent's 'For Sale' board outside? Or seeing their online web advertising? If so, this could be contrued as 'introduced by' the agent.

Duckdodgers

I think you would need to wait a while. The estate agent advertised that your house was for sale. This person may have called at your door instead of ringing the estate agent but they only knew it was for sale because they saw it advertised. People would always just call at doors if it was this easy to get out of paying fees as presumably if you were saving 6000 on fees you could afford to take a slightly lower offer on the house than you otherwise would making it attractive to not bother.paying the estate agent for both buyer and seller.

Mutton_Geoff

G_M wrote: »

* did your neighbour become aware that you were selling after seeing the agent's 'For Sale' board outside? Or seeing their online web advertising? If so, this could be contrued as 'introduced by' the agent.

Too true. I was taken to court by an agent after I moved to another agent who subsequently sold my house. The judge said that even sight of the old agents sign outside my house could be considered an introduction to the proper.

Finchy2018

My understanding (I could be wrong) was there was a foxtons case where carrying out a viewing wasn't enough to constitute introducing a buyer so the fee was not due. You have to actively have tried to negotiate to be due the fee?

I await more knowledgeable minds on this just something that stuck in my mind when I was involved in property

G_M

Finchy2018 wrote: »

My understanding (I could be wrong) was there was a foxtons case where carrying out a viewing wasn't enough to constitute introducing a buyer so the fee was not due. You have to actively have tried to negotiate to be due the fee?

I await more knowledgeable minds on this just something that stuck in my mind when I was involved in property

Link to the case in question?

Finchy2018

https://www.estateagenttoday.co.uk/news_features/Ombudsmans-advice-on-fees-IMPORTANT-UPDATE

I could be totally misreading this, in which i apologise.

Riggyman

You will be executed at midnight.

bertiewhite

You're thinking about taken the property off the market because a neighbour is "genuinely keen" in it?


She could be interested or she could just be nosey - there's a world of difference between the two.