Hi Members
I am in the process of selling some houses for an older relative.
Some of the places are development sites and some and have had previous offers from nearby people/developers. 2 of the places are in areas where the locals know we will be selling in and some have made offers - but low offers.
When speaking to agents they quote very high and maybe unrealistic prices. They also have contracts that allow them an open ended commission should they fail to sell within the agency agreement.
One Agent wanted me to sign an agency agreement for one single day and told me if he doesn't sell it then no commission. When I read the agreement it had an open ended introduced buyer agreement , that is he could claim indefinately. Given the nature of the are of one of that particular place he could had tied it all up for himself in one day.
Does anyone here have any experience in dealing with agents and limiting their entitlement to a commission should I end their contract and sell say 6months later to an introduced buyer.
Seven
I am in the process of selling some houses for an older relative.
Some of the places are development sites and some and have had previous offers from nearby people/developers. 2 of the places are in areas where the locals know we will be selling in and some have made offers - but low offers.
When speaking to agents they quote very high and maybe unrealistic prices. They also have contracts that allow them an open ended commission should they fail to sell within the agency agreement.
One Agent wanted me to sign an agency agreement for one single day and told me if he doesn't sell it then no commission. When I read the agreement it had an open ended introduced buyer agreement , that is he could claim indefinately. Given the nature of the are of one of that particular place he could had tied it all up for himself in one day.
Does anyone here have any experience in dealing with agents and limiting their entitlement to a commission should I end their contract and sell say 6months later to an introduced buyer.
Seven
