Sole Agency Contracts

When agreeing to sell your home with an estate agent look out for the length of sole agency terms on the contract. If an estate agent is confident that they can sell your home for the figure they have quoted to you, then why do they need to tie you into an agreement for months?

The housing market is very busy currently, most houses are selling within a few weeks of being put up for sale. If your house isn't selling quickly or getting much interest this can be a problem that can mean you miss out on getting the best price you can for your sale. If your agent isn't getting the results you hoped for, it's best to switch to another agent who can. This would be fine, except you realise you are tied into a 12 week (or longer) contract!

Being tied into a long term contract can be frustrating and could cost you money or worst still, your sale.

When agreeing to sell your home with an estate agent, look out for the length of sole agency terms on the contract.

If an estate agent is confident that they can sell your home for the figure they have quoted to you, then why do they need to tie you into an agreement for months?

Why do agents use these long term contracts?

Two reasons:

They have over valued your home to win your business. They know that once you realise this you would move on to another agent. By tying you in, you will be forced to consider dropping the asking price. This can result in having a negative impact on your sale.
They tie you in to a fixed term contract because they to stop a better agent from winning your business and selling your house.

Neither of these options are in your best interests.

So when instructing an agent don't sign up to lengthy contracts. FOUR WEEKS should be the maximum. If the agent wont budge, then it's very likely they are not confident they can sell your home.

Remember, if the agent has given you a figure that is higher than expected or higher that other agents it's very likely that they are rewarded financially for winning business rather than selling your home.

At Harrisons Homes we don't use contracts over four weeks, to find out more please call our team today 01795 474848

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