Going from sole to multi agent, what are the practicalities?

11 replies

citronella · 05/11/2009 06:48

Sorry but loads of questions:
Would I need another HIP?
If not does the current agent send a copy to the others?
How much notice do I need to give to current agent?
Do I have to instruct each other agent individually?
Minefield

OP posts:

EldonAve · 05/11/2009 07:02

You need to read your existing contract
Multi will usually cost you more in fees

eyetunes · 05/11/2009 07:04

i would presume the HIP is transferrable to any agent as long as it is valid. How long have you signed on with current agent? You may be better off waiting until current agent time is up, then going with a new one. Otherwise as eldon says, you will be liable for multi agent fees, which really adds up.

Original poster

citronella · 05/11/2009 07:16

Current agent time has been up for a while now but the contract is not explicit as to how much notice needs to be given. What are multi agent fees. I thought you paid a fee upon a sale, so whichever agent got the sale got the fee. The current contract does not state what fees would be if we went to another agent.
How long is a HIP valid for?

OP posts:

bamboobutton · 05/11/2009 07:23

does your agent have your house up on rightmove.com etc?

if they do then i wouldn't bother with multi agency. we have recently been looking and the amount of houses listed several times in a row with different agents was astonishing.

if not then make the agent get it on the web asap as most people do their house hunting online as it's so much easier.

notamumyetbutoneday · 05/11/2009 11:06

defintely agree with bamboo- if the house is on rightmove, globrix, fish4homes etc this is practically like having multi agents withoutt he extra cost. Plus I do think if you have 2 boards outside your house, it does give the impression that its been on the market a while and hasn't sold. It would put me off as a buyer, i think.

Helennn · 05/11/2009 11:17

Your agent would currently have you on a sole agency rate. If you appoint other agencies your rate would go up as it is now on multi agency. Check with your agent now what the rate would increase to and check what notice you need to give to change this. You may just find that the original agent really pulls their finger out as they know they are less likely to sell it when other agents are appointed.

It would take a week or more probably to get your house on the market with other agents so get them started ASAP but tell them the date from which you can go multi so that are definitely not liable for two sets of fees.

Original poster

citronella · 05/11/2009 14:17

Thanks for this. I think I'll stick with one agent but check that they are using websites.

OP posts:

EldonAve · 05/11/2009 17:10

have you not checked it out online already?

displayuntilbestbefore · 05/11/2009 17:14

better to do sole agent as it's less confusion as to who is providing the viewers. Far too often, buyers forget who they first saw the ad for the house through and end up discussing things with more than one of the agents selling the house and it can be problematic. You also often still have to pay for extras even if only one of them ends up getting the selling fee at the end.
If you're not happy with your agent, speak to them about it and make sure they do their utmost to satisfy you that they're doing all they can to sell your house.
Some sole agents have a minimum period during which you're not allowed to go with another agent and some agents flat out refuse to do multi agent stuff as it's a hassle for them.

treacletart · 05/11/2009 19:11

I agree, if its on rightmove there's no point in multi-agency and it could be counter productive. But maybe if you're disatisfied with current agent you could go sole agency with another - at least then you'd have the advantage of going on rightmove as a new addition. But I do think multi-agency smacks of desperation

treacletart · 05/11/2009 19:12

Oh but sorry hip might not be transferable - youd have to check that out

Flip