Estate Agent Withdrawal Fee.

eddddy

Mutton_Geoff wrote: »

There have been plenty of warnings on this forum about signing “sole selling rights” agreements. Only the most underhand of agents like to tie up their clients in this way.

Just to be clear for others reading this - the OP's complaint is about 'withdrawal fees', not 'sole selling rights'.

One does not imply the other.

'Sole Agency' agreements can have 'withdrawal fees' as well. (You need to read the contract to check.)

And other EAs 'Sole Selling Rights' agreements won't necessarily have withdrawal fees.

eddddy

tyro8888 wrote: »

It was stupid not to read the small print I know but there were 24 different clauses in small print on the back of an a4 sheet of paper. The agent also just asked for my signature without explaining any of the clauses. It's a lesson learnt!

Even though you are now terminating the contract, you should make sure you read and understand those 24 clauses.

Some of those clauses probably say that if you later sell to somebody introduced by that EA, you have to pay full commission to that EA.

i.e. There is a risk of you having to pay "double commission".

You need to make sure that you understand the contract, to make sure that doesn't happen.

Mutton_Geoff

eddddy wrote: »

Just to be clear for others reading this - the OP's complaint is about 'withdrawal fees', not 'sole selling rights'.

One does not imply the other.

'Sole Agency' agreements can have 'withdrawal fees' as well. (You need to read the contract to check.)

And other EAs 'Sole Selling Rights' agreements won't necessarily have withdrawal fees.

I quite understand but was highlighting to the OP that the contract they signed may later have much higher cost than just the withdrawal fees and this should be taken into account.

DoaM

G_M wrote: »

I never read the terms and conditions of any contract I sign.


That way I am not bound by them.

Unfortunately, some people will take this seriously.