Date Published 25 August 2018
Generally, in sales one agent is instructed, the property sells & one fee is paid. However, a regular complaint to the property ombudsman is dual fees being requested when a vendor has used 2 agents for marketing. The TPO code of practise is intended to ensure that no seller is put in a position where they are liable for 2 fees for the sale of a property.
The TPO often sees situations where one agent will claim a fee based on being the initial agent & the second agent on having negotiated the sale but one or both is willing to negotiate a share of a single fee. Such instances tend to arise out of general confusion on behalf of the seller client, many of whom have no comprehension that such a situation could happen, not realising that an agent's fee liability may extend after the end of the contract period which can be further exacerbated by the buyers, albeit innocent action.
Agents needs to ensure that they fully explain to their seller clients the events that may lead to a potential of having to pay two fees & protect their client's interest. Particularly where one agent is dis-instructed and another instructed.
Agents should be clear & transparent in their details & any agreements should clearly set out that a seller may be liable to pay more than one fee if they have previously instructed another agent or they go on to instruct another agent during or after the agency period.
Here at Marshall we're always clear with what our contract entails & we would never seek a fee from you unless clearly stated. If you're looking to sell your property then contact us on firstname.lastname@example.org or 0151 733 1879 & let's get your property sold!