Sole Agency

Before you market your property with Yorkshire Property Services it is important that you check your contract with your Estate Agent. If your are not on with an Estate Agent then you can advertise straight away. If you are already marketing your property with an Estate Agent then the following are standard contracts that they use. The defintions listed below are from the Office Of Fair Trading (http://www.oft.gov.uk).

Sole agency

The Estate Agent is the only agent with the right to sell your property. If you find a buyer yourself, you don't have to pay the Estate Agent's commission although you may still have to pay for advertising or a 'For Sale' board.

If you change from one agent to another, there may be a period when both agents' commissions are due if your property is sold.

Sole selling rights

The Estate Agent is the only person with the right to sell your property. It is different from Sole Agency: if you find a buyer yourself, you still have to pay the estate agent.

Ready, Willing and Able Purchaser

You have to pay if the Estate Agent finds a buyer who is prepared and able to buy your property and exchange unconditional contracts. You still have to pay even if you withdraw from the sale and unconditional contracts are not exchanged.

Multiple agency

You can ask several Estate Agents to act for you on a multiple-agency basis. Only the Estate Agent who sells the property will be entitled to a commission. The rate of commission is likely to be higher than for a Sole Agency or Sole Selling Rights contract.

A few Estate Agents offer a 'Joint Sole Agency' contract where two agents agree to share one commission, although the total fee may be higher.

If you appoint more than one Estate Agent to sell your property under a Sole Agency or a Sole Selling Rights contract, each agent has the right to claim their fee when the property is sold.

Some agents do not tie you into a crontract and just market your property on the value that they can sell it for you.

What Yorkshire Property Services advises you to do is to contact your Estate Agent to inform them of your intentions of advertising with us. However not only will they try to stop you, telling you of horror stories but they will then market your property very hard. This is because they will not get any commission if they don’t sell your property.









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