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Double Estate Agent Commission
SG0999
Posts: 8 Forumite
Hi all,
I had my property listed with Estate Agent A. They introduced a buyer, but post-COVID their mortgage offer changed subsequently they could not afford my property. So I cancelled my contract with this agent and moved to Estate Agent B. Since listing it with Agent B, Agent A has been in touch stating that the old buyer now has the funds to purchase my property.
Would I be liable for double commission here?
Both agents had a Sole Agency agreement
I had my property listed with Estate Agent A. They introduced a buyer, but post-COVID their mortgage offer changed subsequently they could not afford my property. So I cancelled my contract with this agent and moved to Estate Agent B. Since listing it with Agent B, Agent A has been in touch stating that the old buyer now has the funds to purchase my property.
Would I be liable for double commission here?
Both agents had a Sole Agency agreement
0
Comments
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You can't sell it to both - so, no.
The first buyer's purchase attempt fell through when they couldn't finance the purchase.
That EA is now saying "But they'd like to have another opportunity".
If you take that up again, then whether you have to pay EA B depends on what their contract says about previously-introduced buyers. I would hope it excludes them...0 -
With sole agency agreements, it's typically the EA that introduced or negotiated with the buyer that gets the commission. But you need to check your contract with EA B to check.
It's important that the buyer only deals / offers / negotiates with EA A. If the buyer negotiates with EA B, that might strengthen EA B's claim for a fee.
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EA A will want their fee, as they are introducing the buyer.You have a sole agency agreement with EA B so they will want their fee too.You best bet is get both EAs to agree to take 50% each (or whatever they agree between themselves).For next time, or for others reading this, when switching EAs, always get EA A to provide a fulllist of names of buyers they have introduced and pass this to EA B with the agreement that any subsequent sale to one of them would not incur a fee from EA B.1
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"For next time, or for others reading this, when switching EAs, always get EA A to provide a fulllist of names of buyers they have introduced and pass this to EA B with the agreement that any subsequent sale to one of them would not incur a fee from EA B."
I've repeated this sensible advice to give it emphasis. Be very careful on this when changing agents.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.1
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