The Checklist – before appointing estate agents
Before you sign an estate agent’s contract, always check the small print.
As well as negotiating the fee (+VAT) payable upon a successful sale (or introducing the eventual buyer) be sure to get answers to the following key points:-
1/ What is their minimum term / tie-in period? Anything more about 6 to 8 weeks could be be a bit restrictive if the agent fails to deliver.
2/ How much notice is required to terminate the contract? It should be no more than 2 weeks.
3/ Is it sole agency or multiple? Avoid sole selling rights.
4/ How will the agent go about marketing – which websites and papers will they use? Listing on Rightmove.co.uk (until sold) is obviously essential.
5/ Is all the promotional coverage and listings included in the fee? Check that they don’t expect you to pay towards the cost of ads.
6/ Are sales particulars or a brochure included? Or is there an extra charge? Does it include a professional floor / layout plan and an EPC?
Our next blog – coming soon ……
Estate agent scams
Check out our Rightsurvey blog page for more industry tips and secrets written by property professionals to help put you in control.