How binding are estate agents contracts?

golfchick36

Hi,

I am with an a estate agent and I have signed a sole agency contract which has a 14 day termination clause.

I am not satisfied with their performance as the number of viewings is far below expectation and i believe a result of the property being overpriced - a bum steer by the agent in the first instance. Also returning of phone calls has been problematic. :mad:

I have spoken with another agent who has told me that the contract I have signed with the original agent is not binding and I cannot be expected to wait for two weeks while they don't sell my house!

I would like some guidance on this, if anyone can help? Can I terminate my agreement with the initial agent and appoint a new agent immediately or must i wait until the expiration of the 14 days?

I appreciate all help that can be offered.

Thanks,

GC36

Snakeblood

golfchick36 wrote: »

Hi,

I am with an a estate agent and I have signed a sole agency contract which has a 14 day termination clause.

I am not satisfied with their performance as the number of viewings is far below expectation and i believe a result of the property being overpriced - a bum steer by the agent in the first instance. Also returning of phone calls has been problematic. :mad:

I have spoken with another agent who has told me that the contract I have signed with the original agent is not binding and I cannot be expected to wait for two weeks while they don't sell my house!

I would like some guidance on this, if anyone can help? Can I terminate my agreement with the initial agent and appoint a new agent immediately or must i wait until the expiration of the 14 days?

I appreciate all help that can be offered.

Thanks,

GC36

Why don't you tell the agent to lower the price and see what happens? Have you paid a fee to this agent?

I think you can have 2 agents at the same time, but both must be paid their percentage if the house sells while under contract to them. But that presumably would only be for the 14 day overlap.

magicbastarder

i recently sold my house, and the estate agent gave a guideline price to me but made clear that the asking price was ultimately my decision. you should consider dropping the price, but not if the house is only on the market a couple of weeks; it might smack of desperation.

golfchick36

Thanks for that, but i just want to understand if the contract is binding or not.

Snakeblood

golfchick36 wrote: »

Thanks for that, but i just want to understand if the contract is binding or not.

I'd have thought (and it's just opinion and not to be used) that if a contract has a 14 day termination clause, that you are bound by the terms of the contract while it is ending, so if the contract says you can't get anyone else on, you can't until the contract is fully finished except by mutual consent.

Victor

golfchick36 wrote: »

I am not satisfied with their performance as the number of viewings is far below expectation

What doe you expect in the current market, especially in the middle of summer, when people are thinking about holidays, not buying property?

I have spoken with another agent who has told me that the contract I have signed with the original agent is not binding and I cannot be expected to wait for two weeks while they don't sell my house!

That sounds like rather dubious advice.

Marcusm

No one here can provide you with legal advice and even if they wanted to, it would be hard without sight of any written agreement or participation in the oral negotiations.

If the new agent believes it to be invalid, tell him you'll appoint him but if the other guy has a claim, he's responsible for their end of the fee. That'll make him think twice about his tortious interference!