---Urgent---End of contract estate agent- sale fell through can we switch agent?

jd93

Hi All, Urgency on this one appreciate advice please.

My house sale fell through before exchange after 6 months. Gutting.

We need to sell within 2 weeks of onward chain will be gone losing thousands ££, the house and the time spent. 

Current estate agent contract initial period ended in June. They are not up to getting enough interest, viewings and a sale within the 2 week period they just arent big enough/have the contacts. Fine for reactive rightmove, not big enough for proactive (clients on books).

We'd like to either move to another agent or go duel agency.

1. Initial period of contract finished in June, can i simply cancel/exit the contract or do i need to give 28 days notice as outlined in the contract despite the initial term finishing in June?

2. If i go duel agency, do I have to pay both agents? Or could I do this now?

Thanks
J

saajan_12

Read the contract. There's no general answer, it depends on what you agreed. 

Hoenir

jd93 said:

We need to sell within 2 weeks of onward chain will be gone losing thousands ££, the house and the time spent. 

What's the relevance of 2 weeks?  No sale is going to be completed within that timeframe. 

Bookworm105

the terms of what you can do are set out in the contract you signed

eddddy

jd93 said:

1. Initial period of contract finished in June, can i simply cancel/exit the contract or do i need to give 28 days notice as outlined in the contract despite the initial term finishing in June?

Almost all estate agents contracts work like this:

• There is a minimum contract period - it sounds like you're saying that your minimum contract period ended in June

• Once the minimum contract period ends, you can give the estate agent notice to terminate the contract - it sounds like you have to give 28 days notice

So it's likely that... if you tell your estate agent today that you want to terminate their contract, the contract will end in 28 days time.

But read your contract to make sure.

jd93 said:

2. If i go duel agency, do I have to pay both agents? Or could I do this now?

I suspect that your current estate agent will insist on 28 days notice before they'll agree to switch to dual agency (but I guess you can ask them if they'll waive that).

With a dual agency, typically you only pay the agent who actually introduces the buyer. But the fees are generally higher - maybe 2.5% or 3% (as opposed to 1% or 1.5% for sole agency).

But some estate agents won't agree to doing a joint agency - they will insist on sole agency or nothing.

propertyrental

jd93 said:

We need to sell within 2 weeks 

No sale is goig to happen in anything close to tjhat

of onward chain will be gone losing thousands ££, the house and the time spent. Sadly this is a risk with all sales/purchases

Current estate agent contract initial period ended in June. 

What was the notice period agreed - I can't see your contract from here.....

They are not up to getting enough interest, viewings and a sale within the 2 week period they just arent big enough/have the contacts. Fine for reactive rightmove, not big enough for proactive (clients on books).

Size of agency is irrelevant.
We'd like to either move to another agent or go duel agency.

1. Initial period of contract finished in June, can i simply cancel/exit the contract or do i need to give 28 days notice as outlined in the contract despite the initial term finishing in June?

You need to give whatever notice you agreed to in your contract. Usually between 2 weeks and 8 weeks - read your contract
2. If i go duel agency, do I have to pay both agents? 

Possibly if you sell to someone originall intoduced by EA1. Otherwise you just pay whichever EA introdeces buyer

Or could I do this now? What, pay them both now? Of course - they'd both be delighted!

Thanks
J

Price will be the defining factor in a quick sale.

gwynlas

If you want to sell quickly then you need to lower the price to a level where buyers will leap for a chance.

Changing or going dual agency will make little difference as most buyers initially look on Rightmove and the same property will appear twice.

You could check that your listing and photographs are encouraging to viewers and possibly host an Open House to encourage viewers.