Estate Agent Agreements

"Sole Agency" Agreement

With a Sole Agency Agreement your estate agent can claim a commission ONLY if they introduce the buyer and sell your property. Also, he can claim a commission if another estate agent is instructed during the period of sole agency and who then sells your home.

If you are with an estate agent under a sole agency agreement, you can still sell and advertise privately and are under no obligation to pay a commission to the agent should a buyer come via your online advert.

This agreement does not prevent you from selling your home privately. You can use an internet based property advertising service such as TheHouseSale.co.uk. as such a service does not act as an estate agent

The Office of Fair Trading Report says even if you've signed an agreement with an estate agent to market and sell your house you can still advertise online. Problems will only occur if you try to sell the property through two estate agents without telling them that the other is involved.

"Sole Selling" Agreement

This agreement means your estate agent would be the only one with the right to sell your home. If you find a buyer yourself then you will still have to pay the agents commission. Please note this is a very restrictive contract.

"Ready, Willing and Able To Buy" Agreement

This agreement will allow the estate agent to charge commission in the event that they introduce someone "ready, willing and able to buy" your home. The buyer does not have to complete the sale under this agreement. However, the estate agent is able to claim commission even if your home is not sold or indeed if you sell to another party. Beware of this type of clause since it is often put in the agreement where you are less likely to look, for example it may be included at the end of the section detailing with when commission is payable.