Estate Agent Probs

[MumsChat31]

I wanted to sell my house and buy another, was hoping to be in for Xmas. Signed estate agent agreement, but as not time to read small print beforehand i verbally asked agent if was no sale no fee and she assured me this was the case. I was pressured by agent into accepting a low offer on my house(don't know reason for this, can only guess they were friend of buyer) and have been unable to find a suitable property to move to. I have no family to help me and I am so stressed I have had to withdraw from sale. Agent now tells me i owe them £500 for marketing property unless i re-market with them for another 4 months at higher figure as I was not happy with agreed sale price. I am so stressed I do not now feel I can negotiate a sale or purchase or work at moment and I haven't got a spare £500.... would be grateful for any helpful advise, thanks.

What does it say in the fine print on your contract with the EA?

According to agent it says at their discretion they can charge me £500

I don't mean to sound harsh at all; but I would honestly take this as a lesson to always read the small print on important contracts before signing them. People have a general impression of estate agents that they may be flexible with the truth on occasion to get people to sign up/put in an offer etc, and whilst many EAs are wonderful, some are not. Also, the choice is always yours as to lowering price/accepting offers, and you need to be assertive and ensure you get the best deal for you, and one that you are happy with. It's fine for the EA if you accept an offer £10k lower, as it barely affects their commission, but could have much bigger LT consequences for you, for example...

Not much you can do if it is written in the contract that you signed

I hate agents like this! I'd try to explain that you are not ready to sell so it would be a waste of their time marketing the property so ask them to waive the fee (nicely).

If they refuse again I would be tempted to let them market it for the four months. I would do nothing to assist with viewings though and refuse if they are at an inconvenient time. Just pop for a coffee when they happen without the bother of tidying etc, after all you are not actually wanting to sell. Let them waste their money and time and you try and put it out of your mind until you can take it of the market. Then do so, gleefully. They would have wasted more than the £500 in their time and resources by then.

When I listed with an estate agent they circled all the fee sections and I initialled those spots. My hunch is if they didn't make it overtly clear then they won't be able to chase you for the money. Having it in the small print is not enough, and at 'their discretion' is not really good enough.

Your hunch is incorrect Hypatia and by signing the OP has agreed to the terms of the contract.

You now need them to waive the fee at their discretion - be unemotional and set out what you want and why. Do it in writing addressed to the branch manager and state that at the sale price agreed you were unable to find a suitable property to offer on yourself and therefore took the decision to take the house off the market. Do mention the stress of the situation and state that the insistence on continuing to market or charge you £500 is adding to that stress. They'd have to be pretty awful to insist on charging you. I would add that when you feel ready to market the house again, you will approach them again. You don't have to and you could simply get them round to give you their 'free market appraisal'. And in your letter, do not state that you think the EA was in cahoots with the buyer.

Get in writing they will waive that fee if you stay on the market with them for the next four months.

Let them market it at a higher price for the next four months. You didn’t get a higher offer before so it’s unlikely you will between now and February given that’s a slower time for the market anyway. And if you do, well then you can make the move you want, right?