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Beware of the estate agent contract

Beware of the estate agent contract

Written by: Category: Selling October 28, 2017

estate agent contract

It has become standard in the UK property market for an estate agent to ask a client that is selling their home with the firm to sign a contract. A estate agent contract should be of benefit and interest to both parties and clearly the selling party will want to know how much of a fee they have to pay for the services they’ll receive. These key details should be detailed in the contract and it is essential that the client is aware of what they are letting themselves in for.

Of course, there is often a lot of information contained within any estate agent contract and it may be that the “small print” of the contract holds the most important information regarding the relationship between the estate agent and the selling party.

How long does an estate agent contract run for?

One key issue that you need to be aware of is how long the contract between yourself and the agent is scheduled to run for. If the contract provides the estate agent with exclusivity over promoting your home, this is essential information because it means you cannot use another estate agent to sell your home. It is becoming commonplace for estate agents to require a 3 month (or 12 week) contract and in some cases; this also includes a 28 day notice period which is in addition to the contract. At VitalSpace, we offer no commitment or tie in period.

In effect, signing this contract means that you are scheduled to deal with the firm for close to 4 months. If the firm isn’t meeting your expectations or there isn’t enough movement or interest in your property, it is easy to become frustrated. A natural reaction is to look for assistance from other agents but if you are locked into a lengthy deal, this may not be an option for you.

Always review the terms and conditions of any contract

This is why it is essential that you review the terms and conditions of an ESTATE AGENT CONTRACT and if you are not happy with being locked in for a set period of time, make sure you bring it up with the estate agent. You may wish to negotiate a shorter time period or ask why the agent feels as though the need this amount of time to sell your home. A good agent with strong local knowledge will have confidence in their abilities to sell the property, and they will be less likely to impose this sort of contract on you.

If you are looking for peace of mind when dealing with an estate agent, it makes sense to look for an estate agent contract that doesn’t include a tie in period. This is something we are very proud of at VitalSpace because we believe flexibility provides the best standard of service to our clients. As a company, we work hard to provide the best standard of service and guidance that we can, and we find that it our success rate and level of help that means our clients trust and rely on us.

It is helpful to be aware that not all estate agents are the same and that some will provide you with a higher standard of service, a more stable level of support and better value for money. At Vital Space, we aim to put you first, and this can be seen in the way we deal with contracts.

At VitalSpace… we are different

At VitalSpace, our focus is customer service and thus we provide ultimate flexibility to all our clients. We believe that if you are unhappy with our service, you should have the right to terminate at any time. We offer:

  • No tie in period giving ultimate flexibility to all our clients
  • No small print – completely NO SALE NO FEE
  • Just a 14 day notice period

Are you currently selling or renting your home?

Do you want an agent who will market your property with enthusiasm and work hard to find a buyer or tenant for you?

Do you want an agent who will work with enthusiasm to find your next property

If so…

You need to talk to VitalSpace Estate Agents

Click the link below for a FREE no obligation appointment and one of our Directors will visit your property to see how we can help get you moving.

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