Switching Estate Agents
If you are considering switching estate agents, this article will answer any questions. It will help you decide what to do next. There may be many reasons you want to change to a new estate agent contract; the most common ones are,
- poor communication
- Little or no viewings
- Your agents are not advertising in the right places.
- Your property has been valued too high, and your current estate agent is pushing for a price reduction.
You can switch to a new estate agent, it may not be easy, but it is possible! However, before making such a big decision, consider all the pros and cons, like estate agent fees and contract agreement, and then choose based on what is best for you.
It can be frustrating if your house has been on the market for a long time with your current agent. So this is an excellent time to decide whether you should change estate agents.
You need to consider the contract you have with your original agent. You might not be able to switch because of exclusivity agreements/contracts that say you will pay for their services for a specific time.
Can You Change Estate Agent?
Is changing estate agents after listing your home the right move? It may be legally allowed, but you might subject yourself to a minimum tie-in period.
You might worry that you are switching agents, which could affect your property sale and selling process.
But don’t worry! We have everything covered. We know about the legalities and practical steps, too. If there is anything left unknown, I’m happy to help you figure it out!
There are other agreements, contracts, notice periods and key clauses you can sign with an estate agent. Doing your research before signing any contracts would be best, or it could cost you money.
When deciding if changing estate agents are the best solution, there are a few factors to consider.
When deciding if you should switch from your current estate agent, consider whether it is time for a change. Ask yourself if getting the best service and support from your present estate agent is good enough.
If you answer “yes,” you will probably change from your existing agent. If you answer “no,” you are less likely to change estate agents.
Estate agents often work for fixed fees. You may pay a double commission if you want to change estate agents or work with two estate agents. But there are benefits to a multi-agency agreement,
- Reach more prospective buyers
- Multiple viewings
- Double your chance of selling your property to prospective buyers
- Increase the chance of a quick sale
- Achieve asking price
The Question Is, What Contract Does Your Agent Have You On?
There are no guarantees for success. Sometimes, even agents who want to help you might not be successful.
People usually change agents when they are looking to buy. Therefore, people must answer questions before changing their agents. It will help you not to make the same mistake as people have.
When you switch, you will be under a sole agency agreement for at least one month or three, depending on the area. Most estate agents will permit the other agent to switch if you give them notice in 30 days.
You should also review documents related to real estate transactions and seek advice where needed.
If you are unsure about your rights or responsibilities as a seller, you can get advice from a professional solicitor.
Why Do You Want To Switch?
It can be hard to find the motivation when you are looking for a new home or want to sell your property. When your current estate agent is not selling your old house, you should list why you switch agents. In addition, you will want to list any positives about the new agent if you decide to stay with them for now. Being balanced will help.
- My agent doesn’t communicate: If your estate agent-based office does not respond to emails or keep you informed, they are not doing their job, and you will want to switch estate agents. They need to do this to provide excellent customer service.
- I’ve had no house viewings: Think about why no one has shown interest in your home, and it’s not selling. Is it because your estate agent has not done an excellent marketing job? Or is it because you have not thought about some problems with the house?
- I can’t find my property online: If your agent is not listing your property on Zoopla or Rightmove, they are not doing their job. It would help if you considered changing estate agents to an agent that will do this.
- My agent is working to lower the asking price: Some agents pressure you to reduce your cost. They might say they are doing it to make the home sell faster, but this isn’t true. Be sure to get at least three property valuations for your property before deciding.
I am sure you have wondered why your property isn’t selling. Now is an excellent time to find out what is going on. First, talk to different estate agents and ask them what they would do if they were in your position.
How To Change Estate Agents
When you are looking for a new good estate agent, think about the following before just randomly picking one,
1, Examine the time frame in which your company is tied: A contract might have a tie-in period, especially if you are on a sole agency agreement. For example, you will have to keep your agent for 1-3 months during your house sale.
2, Give your estate agent written notice: If you are going to be away for a few days or weeks, tell your agent before you leave. They might need two weeks’ notice, one month’s or two months’ notice.
3, Create a shortlist of the right estate agents for your needs: Examine the best areas in your town and see what they have. Then, make a list of the top five.
4, Interview local estate agents: Look at the price and service that other offices in your area have to offer. They might know why your home has not been sold yet.
5, Choose a new estate agent: You decide who the best agent will be for you. Then, you negotiate with them on how long they will work to sell your house, what commission they will get, and if you can back out of the deal if it doesn’t happen.
6, Sign your new contract: Sign it when you are happy with all the parts of your agreement. Then finish your contract.
We have a related post on choosing a management agent and EPC Coventry.
When It Comes Time To Switch Estate Agent, You Should Remember A Few Things.
Read the contract your landlord gives you. You want to make sure that it is fair and legal. Pay attention to the length of the agreement so you don’t lose any money when you leave early or pay a fee when necessary.
It is essential to think about what you are giving up if you want to leave your contract early or pay someone else. Think about how much money you agreed on the deal. Will it still be worth it?
Give the required notice period.
If you want to sell your house, tell the people selling it that they need to give you a lot of time. But, they do not have enough time; they will take your house off sale and cancel appointments. Some agents don’t wait this long before taking your home off sale–they do it for two weeks.
Before you start negotiating with other agents, make sure you are ready. Tell them about any contracts already in place so they know what they can and cannot do.
Obtain a copy of the old agent’s information.
When you want to stop working with estate agents, ensure they have your contact information. The old agent will tell people about the house and show it. Then, if they are interested, the new agent will inspect the property before giving back all checks.
Some people want to buy your house before they make a new one. They might not be ready to buy now, but you can still get their information. Keeping in touch with these people is good because they may believe it soon!
If you switch companies, it is hard to be a good agent. You have an easier time if the company is good and has done well in the past. GetAgent also provides free services for people who are switching agencies.
Is It True If I Switch Estate Agents, It Will Cost Me More Money?
Unless you agree with your agent, the new one might charge you money. It is essential to know how much they will set before you switch. The new agent could do good work even if they work for a different company.
If you do not spend all the money on your fixed-priced agreement, then it does not matter. But if you want to sign over complete control of your home before your time is up, then this will.
Frequently Asked Questions
Is It Possible To Get Out Of An Estate Agent Agreement?
If you don’t want to work with an agent anymore, there is a way to get out of the contract. You can do this if they have not been doing their job. If they break the agreement’s rules, that’s a breach, and you can ask them to leave. If this happens, then talk to someone else.
Is It Legal To Have Two Estate Agents?
You can list your home with two agents. But it depends on the contract.
Some contracts say that one agent will be your only agent. If this is true for both agents you want to use, you cannot record with another agent.
If someone asks an agent about a home not listed with them, they will pass on this inquiry to the agent listing that house.
How Do I Give Notice To An Estate Agent?
- It would help if you told your agent that you are switching to another agency at least a week before you make the switch.
1, Read your contract to see how much time you have to give notice.
2, To be legally binding, you must send a letter or email.
3, Ask them to take down their signs.
Can I Cancel My Estate Agent Contract Within 14 Days?
Many U.K. contracts have a 14-day cooling-off period, which means that if you want to cancel your contract with an estate agent, you can do this within 14 days after the agreement is signed.
If I switch estate agents, will I have to pay a commission to my old one?
If you sign a contract with an agent to sell your home, they might charge you even if you don’t use them. To ensure that the terms say “No Commission” before signing the contract.
We hope you have found our blog post about switching estate agent useful! We are always here to offer free advice if you have any questions.