Sole or multiple estate agents

[needanewername]

Hi,
I am in the process of putting my house on the market and am a bit clueless about whether it’s best to go for sole or multiple estate agents? I bought this house almost 20 years ago with my ex partner as our first property so have never sold before. We’re not amicable so he will probably challenge any preference I have so need to know the pros and cons of both. I have had 2 estate agents come round to give valuations, at least one of which seemed wildly optimistic. Both were pushing for sole agency so I’m concerned they’re over-estimating the value to get me to choose them.

Another complication is that it’s possible I could buy my ex out (not at the price suggested by the agents though!). If I went with a sole agent would I still have to pay them fees if we put the house on the market but then had to reduce the asking price to a level at which it became affordable for me to buy him out? My solicitor has suggested I get a valuation from a RICS surveyor if I think the estate agent valuations are unrealistic and could buy my ex out at a more realistic price, has anyone done this?

It is the norm, and cheaper for the seller, to appoint a sole agent. With all properties listed on portals such as Rightmove it’s difficult to see the advantages of multiple agents unless to signal desperation for a sale.

I’m afraid I can’t answer your other question though.

I don't know what the advantage is of multiple tbh. You get a lower % for sole

If you get x through the door but they buy via Z you have to pay twice.
Yes some will charge you the asking price for fees not selling price.

Did you tell the estate agents it was a valuation for you to buy him out? If not why not?

They won’t get a sale of you buy him out so won’t care what the price is.

Multiple agencies always make the seller look a bit desperate.

You won’t have to pay them any money if he buys it from you as (a) he is already a part owner and (b) they haven’t ‘introduced’ him as a seller. A RICS valuation might not be a bad idea if it avoids any dispute over price but agree who is paying for that (ideally 50/50).

Just go sole agency, no benefit to you of going multi agency.

Get your current bank/lender to value the property if you want to take on the mortgage. This might simplify things for you when applying to be the sole name on the mortgage. No need for estate agents in that case.

Thanks everyone, very helpful. I didn’t tell the estate agents that buying my ex out might be possible because I wasn’t sure they’d come out to do the valuation in that case; I already had to tell them that nothing would be happening re putting the house on the market in the near future.

I think what I was worrying about is what’s called sole selling rights as opposed to sole agency as in that case it seems I’d have to pay the agent regardless of their role in the sale.

I took on the mortgage from joint names with the ex to just my own, I didn't need an estate agent, just a conveyancer and agreement from the courts as well as my lender. It was technically a sale, but no money changed hands so it was quite simple in the end.

With Rightmove, zoopla etc these days, I don’t think there’s any benefit to multiple agencies.

Just don't sign up for a contract any longer than 8 weeks. Then you can kick them out if they fail to perform.