What is the definition of an estate agent?

Becky

Try to refrain from answering the above with expletives...:rolleyes:

I am advertising my house on houseladder but I am also instructing an estate agent too.

The agent is adament that we should sign a multi agency contract as we are "an agent" by selling privately. This sounds like rubbish to me. The contract they want us to sign is not a sole sellers' contract so I cannot see where their problem is.

Extract taken from houseladder.co.uk:

1. 'Sole selling' means your estate agent is the only one with the right to sell your house. Even if you find a buyer yourself, you'll still have to pay the agent.
2. 'Sole agency' also means the estate agent is the only one with the right to sell your house but if you find a buyer yourself, you won't have to pay the agent.
3. 'Multi agency' means that you can choose several estate agents to market your house but you will only have to pay commission to the one who sells it.
4. 'Ready, willing and able purchaser' is a contract. If the estate agent finds you a buyer and you later withdraw from the sale, you'll still have to pay them.

As Houseladder is not an estate agent, and your contract is either 2,3 or 4, and as an estate agent does not provide any legal service to sell your property, then you can still use our services and sell your property privately.

Thanks for any advice!

saxy1

My advice would be - find another agent!! you have to remember they are working for YOU, not vice versa.

chappers

indeed find an agent who is willing to sign up to the type of agreement you want.
But can't se aproblem with a multi agency agreement .If they find a buyer you pay them if you find one you don't.

jimc_2

Estate Agents eh? Don't you just love them?

Presumably they want you to sign a Multiple Agency agreement because the commission is typically higher than a sole agency?

One thing confusing this whole issue of what constitutes an Estate Agency is a recent OFT press release that says that it considers that certain internet-based advertisers are acting as agents because they perform 'Agent Duties'. This was grabbed by Agents as a way of claiming a fee in a 'Sole Agency' case where the did no work to get the sale. The National Association of Estate Agents loved this of course. I have never heard of the individual seller being accused of being an agent though!

There is NO official qualification for Estate Agency (not even literacy!) and according to the OFT anyone introducing a potential buyer to a seller can be considered an agent. This is of course an absolute nonsense but that's the way it is pending clarification. TescoPropertyMarket fell foul of this very complication and are now coming back as full Agents.

All you can do is to request anyone marketing or advertising your property to verify that they are not performing 'agent duties' as defined by the OFT (and then tell the Agent that.)

I believe HouseLadder have been officially cleared by the OFT as NOT performing agent duties and therefore the Estate Agent is wrong (as usual). It would do no harm though, to check the current status as this is a highly volatile topic at the moment! (Things that were OK a few weeks ago are now being claimed by Estate Agents as 'agent duties' so they can make a claim for unearned fees.)

Rover

Self serving ex-car salemen with delusions of grandeur sums it up for me .

As above find an agent willing to undertake the instructions you desire. Alternatively go it alone initially and gauge reaction. I presume you've got your 'home sellers' report.

If your house is on a thouroughfare and realistically priced, it could possibly sell itself. Bear in mind the current selling conditions though, don't expect miracles. Good luck.