ESTATE AGENCY SOLE AGREEMENTS & TIE IN PERIODS

Most estate agents make similar claims about their ability to secure the highest possible price, in the shortest possible time, with the least possible inconvenience.

These things are easy to say, although in reality many agents do not always find them easy to deliver. Indeed, such claims set a level of expectation that can sometimes be followed by disappointment.

 

To add insult to injury, most agents also expect you to sign up for a long period of sole agency with them. Whilst there is no doubt that a sole agency is far preferable to asking two agents to market your property, particularly in terms of accountability, many agents insist on a sole agency tie-in period of 8, 12, 16 or even 26-weeks! Our question is... why?

In our opinion, a long period of sole agency suggests a lack of confidence on the agent’s part, and it’s a way of preventing the seller from sacking them if they fail to deliver! What sort of accountability is that?! It means that the agent can say whatever the seller wants to hear in order to secure the property on their books, and then wait for the property to sell itself. Indeed, some agents take on properties under a long-term sole agency agreement, only to recommend a price reduction shortly after the initial marketing period. Long sole agency periods protect agents, not sellers!

 

We are breaking the mould in the Bromley area, as we believe property sellers deserve better. We feel that if, at any time, you no longer enjoy working with us, you should have the right to fire us! So we don’t insist on any period of sole agency at all! We simply ask for two weeks’ notice and we find that our clients really appreciate this transparent approach. It certainly keeps us on our toes, and ensures you get the commitment we promise at the outset.

 

Why not call us on 020 8467 8304 or email us on enquiries@djames.co.uk for an exploratory chat with no ties?