Sole agency Vs sole selling rights

Just123

Hi
I would like to sell my house.I received two valuation. Now I try go through the agreements to see which suits me .
EA 1 sole agency contract.
But I am not sure about wording.
Sole Agency
" You will be liable to pay remuneration to us,in addition to any other costs or charges agreed ,if any time unconditional contracts for the sale of property are exchanged with a purchaser introduced by us during the period of our sole agency ,or with whom we had negotiations about property during that period or with purchaser introduced by another agent or any private introduction during that period.This liability extends for 6 months from the date this agreement ended or 12 months if no other estate agent is involved"

And Multiple Agency
You will be liable to pay remuneration to us,in addition to any other costs or charges agreed ,if any time unconditional contracts for the sale of property are exchanged with a purchaser introduced by us during the period of our sole agency ,or with whom we had negotiations about property during agency period .This liability extends for 6 months from the date this agreement ended or 12 months if no other estate agent is involved".
For me their sole agency is rather sole selling rights.
I send an email about my concerns .
The answer was that it is standard agreement used and because minimum period is 0 weeks I am therefore not tied in????Like with other EA ,for example 16+weeks.
Also in the report they made a mistake and used multiple agency contract .I pointed it and they are ready to change it as for them is no different in their sole and multiple contract.
What am I missing?
They also did not provide any quotes for additional charges or costs? I asked for it .
Any advice ?

eddddy

Just123 wrote: »

...with a purchaser introduced by us during the period of our sole agency ,or with whom we had negotiations about property during that period or with purchaser introduced by another agent or any private introduction during that period....

You're correct that a standard "Sole Agency Contract" shouldn't really mean that you have to pay a fee for a private introduction.

Just123 wrote: »

I send an email about my concerns

They're unlikely to negotiate with you on contract terms, unless it's pretty clear that you're ready to move forward. (Maybe you didn't sound like you were ready.)

If you want to instruct them and you want "or any private introduction" removed, just say you're ready to instruct them, if they agree to remove that bit from the contract (plus make any other adjustments you need).

Obviously, if you don't want to instruct them, there's no point in having an email exchange.

Just123 wrote: »

They also did not provide any quotes for additional charges or costs? I asked for it .
Any advice ?

Have they talked about additional charges or costs? Why do you think there are any?

You will be liable for the costs specified in the contract. If there are charges for anything else - for example, an EPC, Premium listing etc - they should tell you in writing beforehand.

Just123

But could you tell me what is the different between sole Vs multi according to their agreement wording.As they offered to change it if I instruct them.
Also how I should understand sole period ?If the minimum term of the agreement is 0 weeks.They keep stressing it out.
They offered professional photos,floor plan,video tour and others as free,premium listing as well.
I managed to get 0.9 %+ Vat so I think it is pretty good.Also if I switch to multi agency that even better.

eddddy

Just123 wrote: »

But could you tell me what is the different between sole Vs multi according to their agreement wording.

OK - (your thread title was Sole agency Vs sole selling rights, so I thought that was what you were asking about.)

"Sole Agency" means you instruct just one estate agent

"Multi Agency" means you instruct more than one estate agent at the same time.

But there seems to be a typo in their contract - it looks like the word "sole" shouldn't be here...

And Multiple Agency
You will be liable to pay remuneration to us,in addition to any other costs or charges agreed ,if any time unconditional contracts for the sale of property are exchanged with a purchaser introduced by us during the period of our [STRIKE]sole[/STRIKE] agency ,or with whom we had negotiations about property during agency period .

Just123 wrote: »

Also how I should understand sole period ?If the minimum term of the agreement is 0 weeks.They keep stressing it out.

Their agency period will begin when you first instruct them, and then continue until you terminate the contract.

(So you could let the contract period run for, say 4, weeks or 8 weeks or 20 weeks or 104 weeks etc, if you want.)

But you may have to give them 2 or 4 weeks written notice to terminate the contract - it will be explained in the contract.

Just123 wrote: »

I managed to get 0.9 %+ Vat so I think it is pretty good.Also if I switch to multi agency that even better.

The multi-agency fee will normally be more expensive that the sole agency fee.

G_M

'Sole Selling rights' = the agent gets paid if the property is sold, however the buyer is introduced

'Sole agency' = only one agency should be instructed. The agent gets paid if the property is sold after they, or any other agent, introduces the buyer.

' Multi agency'= more than one agent instructed (usually more expensive). The agent gets paid if the property is sold only after they themselves introduced the buyer.

But the the wording in the contract should match the heading/title. If the heading says one thing (eg 'sole agency') but the contract wording contradicts this (eg 'any private introduction during that period') then get the wording changed or don't use the agent.

Just123

Asked them to do adjustment of the agreement.
Received this

"No Problem,
If you alter the contract I have sent you, to save confusion on what I am writing, if you fill in as long as I feel this is a legible contract I will be happy to get the photographer round to get the photos taken."
Can it be done by me?
Hand writing changes in contract ?

​

G_M

Just123 wrote: »

Asked them to do adjustment of the agreement.
Received this

"No Problem,
If you alter the contract I have sent you, to save confusion on what I am writing, if you fill in as long as I feel this is a legible contract I will be happy to get the photographer round to get the photos taken."
Can it be done by me?
Hand writing changes in contract ?

​

Yes. Perfectly legal.

However, I would

* initial each change you make
* number and initial each page (to prevent pages being substituted later without your changes)
* photocopy the amended contract before you return it.

eddddy

Just123 wrote: »

Can it be done by me?
Hand writing changes in contract ?

​

Yep - I often hand write changes to EA contracts. (It's often crossing out terms that I don't like, having agreed with the EA first.)

And/or you can also write on the contract something like "Also see additional terms relating to this contract." - and have a separate piece of paper headed something like "Additional Contract terms relating to contract dated xx/xx/xx between aaaa and bbbb."