To think these Estate Agency T&C's are unreasonable ...(9 Posts)
We're just considering which agency to sell our house with and the front runner has sent through T&C's some of which seem unreasonable to me ....
- ‘Introduced’ – for the purposes of this contract means that a buyer viewed the property through us. Such introduction is deemed to be effective in terms of introducing a buyer to the property and the eventual purchase for a minimum period of six months after the termination of this contract. To avoid any potential liability for two fees in the future you should contact us immediately if any buyer already introduced by us revisits the property through another estate agent.
Er, they're doing the viewings, so if we do later end up with another agent, how am I supposed to know whether a visitor was originally introduced by them or not? And even if I know they were, and tell them, surely the new agent is still going to want their fee too?
-We reserve the right to charge a nominal withdrawal fee of 10% (of the fee illustrated in £’s opposite) if the property is withdrawn from the market during the term of this contract and/or if an offer of the asking price from a ready, willing and able purchaser is declined. A purchaser is a ready, willing and able purchaser if he or she is prepared and is able to exchange unconditional contracts for the purchase of your property. You will be liable to pay a withdrawal fee to us if such a purchaser is introduced by us in accordance with your instructions and this must be paid if you withdraw the property, irrespective of your reasons.
So if someone makes me an offer and I don't want to accept it, I have to pay them their commission anyway?
I think the first is fair enough but probably unenforceable.
Sounds like the second would only apply if you dropped out of the process at exchange stage. Again, I think fair enough.
Choose someone whose terms are less stringent. That contract is completely biased in favour of the agent.
You can decide to withdraw your house from the market at any point up to exchange of contracts. Things happen, people change their minds, something goes awry and you're stuck with a hefty fee.
Actually, you would also pay them 10% of the estimated fee if you withdrew your property from sale once you'd signed up the agent. It's a little more harsh, but it beats off the timewasters, of whom I suspect there are many.
Loads of ea...choose another if not happy with the terms
They're all scumbags in my opinion, but you could try crossing out the bits you don't accept and see if they'll go with it rather than lose business. They count on the majority of people not actually reading the small print.
The first clause is standard and, if you do choose another agency once you are out of your tied in period with this agency, then they send you a list of all the people who have viewed your house with them (this should also be passed onto your new agency).
The second clause is harsh but I have known it to be enforced (not 10% but the usual estate agency fee that the agency feels that it was owed for finding a buyer). I agree that it is there to stop timewasters. I think the simplest thing to do is sign up for a shorter period - I have never signed up for longer than six weeks and, when the market was competitive, was able not to have any tie-in period - the estate agency I chose said I could judge them on their results and, if I didn't think they were working hard enough, I could walk away.
Both are bog standard.
The later applies to asking price offers by buyers in position to proceed
They are an estate agent. Of course their t&cs are unreasonable. They are generally a bunch of rip off merchants (I'm sure there are some good ones, but I'm yet to meet any) .
If there is any part of the contract you don't like you are within your rights to change it /negotiate. You can just cross things out and both sign the changes to avoid retyping it. Of course they'll probably charge you still!
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