How much notice do I have to give an estate agent

Statex2_2

Am I free to instruct another estate agent? My 12 weeks sole agency has expired and I have read the estate agents contract but it does not state the notice period required. All it states is that if I wish to continue after the 12 weeks I have to notify them in writing.  They found me a buyer but he has now dissapeared and no one can contact him. They arranged a few viewings after that but they have now dried up. Probably because I wont take another £25 k off the asking price we have already reduced the price by £25k. Am I free to instruct another agent or do I have to give them 14 days etc? I would be most grateful for any suggestions.

RHemmings

If I was in your position, I would write to the original estate agent pointing out to them that the 12 weeks has finished, you do not wish to continue with the sole agency with them, and that you are now free to instruct another estate agent. Ask them to provide you a list of potential buyers whom the (original) estate agent has effectively introduced to the property, pointing out that there has only been one viewing. I would point out that there is no notice period specified in the contract, but say that I will give them one week to respond before continuing elsewhere. And, ask them to confirm if they are a member of The Property Ombudsman scheme. 

My only comment on the price issue is: it could be either you or the original estate agent who is right about needing to or not needing to reduce the price by another £25k. 

p00hsticks

RHemmings said:

 Ask them to provide you a list of potential buyers whom the (original) estate agent has effectively introduced to the property, pointing out that there has only been one viewing.

???? AS I read it OP says that there were several viewings, and one potential buyer (presumably who made an acceptable offer) that is now uncontactable.....

eddddy

Statex2_2 said:

 All it states is that if I wish to continue after the 12 weeks I have to notify them in writing.  

That's a very unusual term for an estate agent's contract. Normally it's the other way round, the contract continues after the 12 weeks, until you give them written notice.

Is this an agent where you pay a fixed fee up-front, as opposed to paying them on completion?  


On the basis that you have a very unusual contract, it's difficult to guess what the terms might be.

If you paid an upfront fee, with no fee payable on completion, the question of who they might have introduced is probably irrelevant. They won't care if you eventually sell or not, or who you sell to.


In the circumstances, I guess your options are..

• Read the contract thoroughly
• Contact the estate agent and ask
• If they're an online agent, they often publish their t&cs online. So you could mention their name and/or website, so people here can look at the terms 

propertyrental

No one here can answer your question without reading the contract you signed.

Read it carefully and quote the relevant clauses here exactly - we can then explain them to you if you don't undwrstand.

RHemmings

p00hsticks said:

RHemmings said:

 Ask them to provide you a list of potential buyers whom the (original) estate agent has effectively introduced to the property, pointing out that there has only been one viewing.

???? AS I read it OP says that there were several viewings, and one potential buyer (presumably who made an acceptable offer) that is now uncontactable.....

You're correct. Somehow I converted the single potential buyer found with the number of viewings. Unless there are weird clauses in the contract, I think the rest of what I said stands. 

Statex2_2

eddddy said:

Statex2_2 said:

 All it states is that if I wish to continue after the 12 weeks I have to notify them in writing.  

That's a very unusual term for an estate agent's contract. Normally it's the other way round, the contract continues after the 12 weeks, until you give them written notice.

Is this an agent where you pay a fixed fee up-front, as opposed to paying them on completion?  


On the basis that you have a very unusual contract, it's difficult to guess what the terms might be.

If you paid an upfront fee, with no fee payable on completion, the question of who they might have introduced is probably irrelevant. They won't care if you eventually sell or not, or who you sell to.


In the circumstances, I guess your options are..

• Read the contract thoroughly
• Contact the estate agent and ask
• If they're an online agent, they often publish their t&cs online. So you could mention their name and/or website, so people here can look at the terms 

The agent is a standard agent, fee on completion. I have not paid a fee up front. The contract is unusual , when I sold previously I had a four page contract full of small print and clauses. This contract is one page and does not state a notice period.

Statex2_2

RHemmings said:

p00hsticks said:

RHemmings said:

 Ask them to provide you a list of potential buyers whom the (original) estate agent has effectively introduced to the property, pointing out that there has only been one viewing.

???? AS I read it OP says that there were several viewings, and one potential buyer (presumably who made an acceptable offer) that is now uncontactable.....

You're correct. Somehow I converted the single potential buyer found with the number of viewings. Unless there are weird clauses in the contract, I think the rest of what I said stands. 

You are correct several viewings an acceptable offer and now the agent is unable to contact him . They also asked his mortgage broker, who also is unable to contact him.

Statex2_2

propertyrental said:

No one here can answer your question without reading the contract you signed.

Read it carefully and quote the relevant clauses here exactly - we can then explain them to you if you don't undwrstand.

propertyrental said:

No one here can answer your question without reading the contract you signed.

Read it carefully and quote the relevant clauses here exactly - we can then explain them to you if you don't undwrstand.

I have read the contract again and it states that I have a sole agancy for 12 weeks at 1% including vat. After that period it reverts back to the standard agency fee of 3,5% plus vat unless I notify them in writing that I wish to continue with the sole agency. No mention of a notice period. Therefore I have given them 14 days notice.

eddddy

Statex2_2 said:

I have read the contract again and it states that I have a sole agancy for 12 weeks at 1% including vat. After that period it reverts back to the standard agency fee of 3,5% plus vat unless I notify them in writing that I wish to continue with the sole agency. No mention of a notice period. Therefore I have given them 14 days notice.

TBH, with those terms, you need to tell them in writing to continue with sole agency for those final 14 days.

If you don't and they introduce a buyer within those 14 days, it sounds like they'll charge you 3.5% + vat. 

400ixl

It reads that you will not be out of contract after 12 weeks, you will be on a contract that allows you to engage another agency on a non sole agency basis and this agency will still be engaged.

If you want to go to another agency as a sole supplier you need to understand how you terminate the first agency entirely as there does not appear to be a way in what you have posted so far.