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First home purchase disaster

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    #62
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    4ensic15 wrote: »
    The EA has been instructed to sell. If he finds a buyer and the owner then refuses to continue the EA can sue for his fee. people can't just instruct and EA to sell and when he has done the work tell him they have changed their mind and leave him with nothing.

    Problem is we do not know exactly what has happened 'in this case' .... depending on what was agreed between the EA and the vendor the EA might be entitled to costs for marketing/photos/BER if they arranged same .....

    Vendors do instruct EAs and can then change their mind .... EA's get paid when a sale goes through ... if the sale does not happen the EA does not get paid. Anything can happen in the interim that stops the 'agreed sale' from happening.

    I know a lot of people in this industry and have never ever heard of an EA taking a vendor to court. If you have some names (and if they are on public record) I would love to know ;)


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    #63
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    justagirl wrote: »
    Problem is we do not know exactly what has happened 'in this case' .... depending on what was agreed between the EA and the vendor the EA might be entitled to costs for marketing/photos/BER if they arranged same .....

    Vendors do instruct EAs and can then change their mind .... EA's get paid when a sale goes through ... if the sale does not happen the EA does not get paid. Anything can happen in the interim that stops the 'agreed sale' from happening.

    I know a lot of people in this industry and have never ever heard of an EA taking a vendor to court. If you have some names (and if they are on public record) I would love to know ;)

    There are cases reported in the law books.
    Henehan v Courtney
    (1967) 101 I.L.T.R. 25.


    http://www.courts.ie/Judgments.nsf/0/DC8FF19DCB3E96DD802575A8002EA41D


    There have been many cases in the District Court of which there are no reports.


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    #64
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    4ensic15 wrote: »
    There are cases reported in the law books.
    Henehan v Courtney
    (1967) 101 I.L.T.R. 25.


    http://www.courts.ie/Judgments.nsf/0/DC8FF19DCB3E96DD802575A8002EA41D


    There have been many cases in the District Court of which there are no reports.

    Thanks for links ..I don't think the second case applies in this case ...with letters of engagement now the agreement a vendor and EA have is clearly set out (or should be) .... We do not know if the original EA in this case even had a letter of engagement with the vendor .....

    Anyway, I wish the OP the very best with his/her next property.


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    #65
    Banterbus28
    Closed Accounts Posts: 2,620 ✭✭✭Banterbus28


    justagirl wrote: »
    4ensic15 wrote: »
    There are cases reported in the law books.
    Henehan v Courtney
    (1967) 101 I.L.T.R. 25.


    http://www.courts.ie/Judgments.nsf/0/DC8FF19DCB3E96DD802575A8002EA41D


    There have been many cases in the District Court of which there are no reports.

    Thanks for links ..I don't think the second case applies in this case ...with letters of engagement now the agreement a vendor and EA have is clearly set out (or should be) .... We do not know if the original EA in this case even had a letter of engagement with the vendor .....

    Anyway, I wish the OP the very best with his/her next property.

    Emails pertaining to this effect would suffice.


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    #66
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Banterbus28 wrote: »
    Emails pertaining to this effect would suffice.

    Not for the OP who isn't the agent.

    The EA may have a claim against the vendors, impossible to know without knowing what was agreed between the vendors and the EA.


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    #67
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    justagirl wrote: »
    No, they cannot. If this was the case - this would be a major money spinner for EAs as properties can get pulled for some reason or other.

    And would you as a vendor sign anything with an EA if such ramifications were possible?

    If you insist that they can and you can get a solicitor to take such a case - I would love to meet them;)

    Have you ever sold a property? He is right. Before they advertise, you do sign a contract where the ea is sole ea. I can’t recall exactly what it detailed in mine as I never changed ea during a sale however there would be certain stipulations you need to follow before you can change ea. At a min. He would need to pay advertising costs but you also might need to wait x time before you can change.


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    #68
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    Fol20 wrote: »
    Have you ever sold a property? He is right. Before they advertise, you do sign a contract where the ea is sole ea. I can’t recall exactly what it detailed in mine as I never changed ea during a sale however there would be certain stipulations you need to follow before you can change ea. At a min. He would need to pay advertising costs but you also might need to wait x time before you can change.

    Yes I have multiple times..... you do not have to agree to sole agency - you can have multiple agents with same/different timelines agreed ... it depends on what you agreed and what is in your letter of engagement with your EA and yes I did say in a previous post that the EA, depending on what costs were agreed with the vendor, could pursue costs for mktg/etc. Night all ;)


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    #69
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    justagirl wrote: »
    Yes I have multiple times..... you do not have to agree to sole agency - you can have multiple agents with same/different timelines agreed ... it depends on what you agreed and what is in your letter of engagement with your EA and yes I did say in a previous post that the EA, depending on what costs were agreed with the vendor, could pursue costs for mktg/etc. Night all ;)


    Yea you can have dual ea sometimes but this would normally be agreed in advance. If you just go with a single agent, they would normally lock you in for a set amount of time. I never understood why people with go with multiple ea at same time. Both agencies have to split their cut so the incentive is there as much. Iv only ever heard of it making sense one dur Not a divorce where each opted for a separate ea but besides that I never understood why people go for it


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    #70
    justagirl
    Registered Users Posts: 565 ✭✭✭justagirl


    Fol20 wrote: »
    Yea you can have dual ea sometimes but this would normally be agreed in advance. If you just go with a single agent, they would normally lock you in for a set amount of time. I never understood why people with go with multiple ea at same time. Both agencies have to split their cut so the incentive is there as much. Iv only ever heard of it making sense one dur Not a divorce where each opted for a separate ea but besides that I never understood why people go for it

    It is up the vendor to decide how long they wish to tie themselves up with an agent... the agent can suggest/try to insist on a certain amount of time but the vendor can make their own choice and see if the agent will agree. Having two agents working for you can work as they are likely to be very competitive - each one might work a little harder as they have competition and being two separate companies - whoever gets the sale gets the commission - the other agent gets nothing. It depends on the situation and how a vendor likes to do things.


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