Estate Agent Sole Mandate

[marco79]

Any property knowledgeables here?

My wife signed a sole mandate with an estate agent in July to sell her late mother's house. To date he hasn't marketed the place.

She sent him a message yesterday to say she is getting another agent to sell the place, he said he didn't put the date on the sole mandate contract, so she can't get another agent. Is this legal?

 

[maumau]

Sounds like a slime bucket. You should name and shame.

 

[Lupus]

Double check the contract, tell him they'll be taking it to the Estate agency board as well.

 

[beefymoocow]

Any property knowledgeables here?

My wife signed a sole mandate with an estate agent in July to sell her late mother's house. To date he hasn't marketed the place.

She sent him a message yesterday to say she is getting another agent to sell the place, he said he didn't put the date on the sole mandate contract, so she can't get another agent. Is this legal?

Best to take the agent to the EAAB and ask them what a reasonable period. You might have to pay a penalty. there might have been costs occurred in trying to sell the property. These are the things sellers actually need to read first.

 

[RedViking]

Agents are snakes. Just like car dealers and lawyers.

(Apologies to the one or two that are legit)

 

[beefymoocow]

Agents are snakes. Just like car dealers and lawyers.

(Apologies to the one or two that are legit)

I’m not an agent but sellers are just as incompetent. Never reading the t&c. But will complain after the facts. You selling a house worth millions but not reading or understanding it is quite extraordinary. It’s not a jab at the seller but buyers and the likes.

Like people complain about high fees relating to their retirement products. But everything is there in the contracts.

 

[RedViking]

I’m not an agent but sellers are just as incompetent. Never reading the t&c. But will complain after the facts. You selling a house worth millions but not reading or understanding it is quite extraordinary. It’s not a jab at the seller but buyers and the likes.

Like people complain about high fees relating to their retirement products. But everything is there in the contracts.

Hence why agents exploit sellers. Sneaky snakes.

 

[itareanlnotani]

Any property knowledgeables here?

My wife signed a sole mandate with an estate agent in July to sell her late mother's house. To date he hasn't marketed the place.

She sent him a message yesterday to say she is getting another agent to sell the place, he said he didn't put the date on the sole mandate contract, so she can't get another agent. Is this legal?

Tell him to go F himself.



When you enter into a sole mandate to sell your property it is only legal and binding when it has all of the following: A selling price, a commission rate or amount, and an expiry date

If any of these three are missing then your sole mandate is invalid and not binding. Especially be aware of sole mandates that have as an expiry date “until sold”, or “until cancelled by mutual agreement”. These are invalid and a breach of the Code of Conduct.

Beware of Sole Mandate without Performance Clause

There is no doubt that the best way to sell your property for the most money the market will pay is with a Sole Mandate. By Sole Mandate I mean where you give an exclusive instruction to one estat…

harcourtsplatinum.wordpress.com

 

[Creag]

Any chance, @marco79, that you can post a copy of the agreement here for us to look through? I am curious this and wonder what sort of obligations are on the agent, i.e. what were they obliged to do and if there is non-performance.

 

[marco79]

I received the copy of the sole mandate now. It is not dated & is valid for 120 days. My wife spoke to the agent now and he says he has a potential buyer. She told he has a week to secure an OTP. Let's see where this goes.

I'm not going to post a copy of the agreement as it has the agency name almost in every paragraph.

 

[Lupus]

I received the copy of the sole mandate now. It is not dated & is valid for 120 days. My wife spoke to the agent now and he says he has a potential buyer. She told he has a week to secure an OTP. Let's see where this goes.

I'm not going to post a copy of the agreement as it has the agency name almost in every paragraph.

If it was signed in July, 120 days ago was in November, it would be over 150 days already.