Estate Agents and private sale

bargain_babe

ha ha, you always see things differently to me! Thats not what I meant and you know it. lol

ajaxgeezer

I know. See you on WL soon

bargain_babe

You will if I can get at all motivated. I am eating for England thanks to Easter!!! Trying to get rid of all the choc so that my house is tidier and theres more room in the cupboard!!!

ajaxgeezer

LOL great reasoning. Decluttering by intake

Jorgan_2

ajaxgeezer wrote: »

.....no I'm not, my experience comes from seeing 10-15 contracts from EAs. The sole-agency clauses on all of them (seriously, without exception) bear out what I've said. If this (mine and BB's) local area is in some way weird, or if the opinion is wrong, I'm prepared to put my hands up to that. I'd rather post my wrong experiences and have someone check than keep quiet and see someone lose.

Hi Ajax, things maybe different in your area, which is why I said it depends on what your contract says as to wheteher you have to pay or not. Its a bit like the southern half of the market tend to have no sale - no fee while in the north they may have to pay extra for a for sale board, accompanied viewings and any newspaper ads over a set amount.

ajaxgeezer

Hi Jorgan, I've heard of northern agents charging a set amount and asking for it up front too. Dunno how widespread that is.

Jorgan_2

ajaxgeezer wrote: »

Hi Jorgan, I've heard of northern agents charging a set amount and asking for it up front too. Dunno how widespread that is.

From what I gather its very widespread. When I worked for one of the corporates, the agency agreements would come in two parts, the general sole/multi agency agreement & an entire page for the 'extras'.

ajaxgeezer

Jorgan wrote: »

From what I gather its very widespread. When I worked for one of the corporates, the agency agreements would come in two parts, the general sole/multi agency agreement & an entire page for the 'extras'.

........was that regional differences or national policy? I have to say, around here every contract looks just like another, almost as if there's only one typewriter and photocopier in the whole of the Black Country - which may of course be true.........

Would you/a valuer be more likely to 'discount' agency fees in a slow market or a fast market? There's two ways of thinking -

- an agent will work harder in a slow market, so costs will be up, hence less discount - or
- an agent really needs to buy the business in a slow market, so will offer discounts to secure it.

Which is closer to the truth?

I wish Bargain Babe would come back after talking to her agent. I'm extremely intrigued lol

Jorgan_2

Regional differences, I've worked for a few of the nationals & they are all similar.

Personally, I'd be more inclined to discount a fee in a busy market, there would be less costs involved with the marketing so the vendor would benefit. I don't 'buy' the business though.

bargain_babe

sorry guys for not getting on here yesterday and leaving you in limbo.

Well the contract was a standard no sale, no fee contract and is a sole agency agreement rather than a sole selling rights one. However when speaking to the Agent he was rather vague about whether or not I would have to pay if anyone I had introduced bought the property, basically doing his stuff and telling me that I would be better off sending any prospective purchasers to them rather than trying to deal with them myself.

I know it was a bit naive, but I did sign up and they will be marketing the property. I don't think I will show anyone around who just turns up as I won't know any background about them. I will just see how it goes in the now quiet market. If it doesn't sell I won't have to pay them but I want to move so will keep my fingers crossed that it does.

I did make sure i paid for the HIPS straightaway so that I will own it when it comes and the EA confirmed this.

Anyhow, wish me luck and thanks for your help. I am still unsure I really clarified the matter properly though, so sorry I cannot give a straight answer to who was totally correct, think he just talked me round to his way of thinking!!