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Letter of Engagement to Sell

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  • 02-03-2022 11:12pm
    #1
    ReturnOfThe
    Registered Users Posts: 53 ✭✭


    I am looking to sell a house at the moment and received an LOE to sign from a local estate agent. The exclusivity clause runs for 1 year. The percent fee being charged is reasonable but I feel that 1 year sounds a bit long or is that par for the course normally ?



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    #1
    touts
    Registered Users Posts: 6,448 ✭✭✭touts


    Go with another estate agent. Don't commit to a one year deal where they could do nothing and you have to pay them to leave.

    I had an experience some years ago when we were selling a house with an agent. It was at the start of the last housing downturn. Had a few viewings and then after a month or so everything dried up. Stayed with them for 6 months and we had 1 viewing. The listing had slipped down all the webpages etc. They were quite fatalistic about it. It's the market. There isn't much we can do. No one is buying etc etc etc. So we switched to another estate agent. House sold within month.



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    #2
    Emma2019
    Registered Users Posts: 414 ✭✭Emma2019


    What are your options if you think they're doing a bad job and want to switch?



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    #3
    ReturnOfThe
    Registered Users Posts: 53 ✭✭ReturnOfThe


    It states that I would have to pay all related fees to switch. The fee percentage is 1% plus vat so maybe explains why it's set low.



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