Estate agent contract advice

Hamiltonc

So the majority (if not all) private buyers I started speaking to prior to going with this agent. I can add those names to our contract, agent confirmed this earlier on this evening
We would only progress a private buyer not anyone who viewed or was introduced by the agent. Anyone they introduced, if they approached me privately, I'd go back to the agent
So what's the best way if we have a private buyer who makes us an offer?

Hamiltonc

https://forums.moneysavingexpert.com/discussion/comment/82038953#Comment_82038953

We would only go with a private buyer not someone they introduced. If someone they introduced came to me I'd go back through the agent

So how do we go about a private buyer should we get an offer from them?

eddddy

Hamiltonc said

So the majority (if not all) private buyers I started speaking to prior to going with this agent. I can add those names to our contract, agent confirmed this earlier on this evening
We would only progress a private buyer not anyone who viewed or was introduced by the agent. Anyone they introduced, if they approached me privately, I'd go back to the agent

So it sounds like you need to provide the new agent with 2 lists, and ask the new agent to agree to the following:

"The following people have been introduced privately, so if they approach you, you agree to refer them back to me:

• Mr A
• Mr B
• Mr C

The following people were introduced by the previous estate agent, so if they approach you, you agree to refer them back to the previous estate agent:

• Mr D
• Mr E
• Mr F

And you agree that no fee would be payable to you, if anyone from either list eventually buys the property"

Hamiltonc said

So how do we go about a private buyer should we get an offer from them?

In your position, I would do the following: if the private buyer was a trusted friend, I might take things forward myself.

But if it's a 'stranger', I'd probably tell them to deal with the estate agent.

mta999

If you have already signed the agreement then they have sole selling rights. Unless they agree (which they won't) then there is no 'exclusion list'

If you get a private buyer, ie one not introduced by them, then you still have to pay them commission. That is what sole selling rights means.

If you haven't signed then of course everything is up.for negotiation.

treechoc

Hello, I have two questions: 1. is the wording below that has been ticked on my contract - could someone please tell me exactly waht it means? I am confused!

"Sole Selling rights - You will be liable to pay the above fees (plus any other agreed costs) in the event of an unconditional exchange of contracts for the sale of the property during the period of this agreement even if the purchaser was not introduced by us but by another estate agent or any other person including yourself or after the expiry of the period during which we which we have sole selling rights but to a purchaser introduced to you during that period or with whom we had negotiations about the property during that period."

And also 2. I have signed up to a 20 week contract and I understand that I can give 28 days notice to terminate the contract - presume I should do this 28 days prior to the end date - does anyone have any wording for this termination letter and can it be done by email? any help or guidance appreciated

eddddy

treechoc said

Hello, I have two questions: 1. is the wording below that has been ticked on my contract - could someone please tell me exactly waht it means? I am confused!

It's best not hijack somebody else's thread, because it causes confusion. It's better to start your own thread.

mta999

1. This means you have to pay them commission however the house is sold where the by them or whether by you to one of your friends for example. You also have to pay them commission if you sell it to somebody they introduced even after you have given notice and left them.
2. Yes you can give notice 28 days before the end so that you leave them after the minimum tie in of 20 weeks. A quick email should be fine