Selling privately cutting out the agent

[Bakedbrie]

We are on the market with an agent (lots of interest & viewings) but have been approached privately by a prospective buyer who is not registered with the agent. The benefit of selling to them is no fees to payable to the agent. The downside is I have no back up buyer if she pulls out pre-exchange and I will have isolated myself from the agent. Has anyone sold on a private basis? How did it go? What steps did you take to mitigate your purchaser pulling out? Any suggestions or advice appreciated. Thanks!

How does this buyer know you are selling? If it's down to the EA marketing your house anywhere they've seen it then they'll be entitled to their fee for the introduction.

no chance. How will you prove they didn't see it on rightmove?

Have a look at the contract you signed. You might be liable to pay regardless. If you are lucky you will only have to pay if they made the intro.

I was only able to do this if I named any potential buyers on my contract before marketing.

How do they know you’re selling?

We are on On the Market, Right Move, Prime etc. I think the contract states named introductions though and this person is not a named introduction.

There’s no board outside the house.

We are careful to keep the surnames of the people who have viewed. We are on an 8 week Sole contract with the agent. We’ve retained the surnames in case those people pop up and attempt to buy with another agent at a later date as wed have to pay the first agent for making the initial intro.

Unless the potential buyer was chancing it and knocked on your door to ask if you were thinking of selling, not having seen the house online, or has found out only by speaking to you and the fact you are selling has come up or they are a friend of a friend who knows you are selling then you have to accept that they know the house is for sale because they've seen the agent's online advertising of it. That still counts as an introduction by the EA.

I would be wary of a buyer suggesting you try to circumvent the EA. You'll have to deal with them direct and if they are trying to persuade you to be dishonest then trying to save money this way could come back to bite you.

So how did the buyer know...?

Please don't be tempted with doing this
I've had "private" purchasers approach me when I have had property up for sale , I have always sent them to the agent , it would be very unprofessional and unfair to the agent who has done all the work to cut them out for the sake of a couple of thousand pounds , a good agent earns his fees , besides the negotiation work they do right up the the point of sale, I often sell and move so have experienced many types of potential purchasers , and whilst some may be genuine and straight forwards many are not and it's the agents job to deal with them .

Thanks for the comments all. I think it’s too risky to court this person. I think on reflection if they do return they can go via the agent. I appreciate the views thanks.