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Quick House Sale Guide >> Selling through an Estate Agent >> Sole Selling Verses Multi Agency
Sole Selling Verses Multi Agency
When selling your house through an estate agent you will have the choice as to whether you use one agent or exclusively or a number of agents at the same time.
To use one agent exclusively is usually referred to as 'sole agency'. A contract will be drawn up between you and the estate agent which states that the agent is entitled to the commission fee agreed if they introduce a buyer to your property. A time period is also agreed (usually 12 weeks). During this time no other agent can sell your property. If you wish to change agents before this period is over you may be required to pay their fee, depending on the terms in the contract, even if your property has not been sold. However, this does not restrict you from selling your property privately as long as you introduce the buyer.
A multi-agency agreement exists when you appoint more than one estate agent to market and sell your property. This means you will pay a higher rate of commission. The benefits are that, in theory, your property will be marketed to a larger audience, and will therefore sell quicker, though with most people now using the Internet and sites such as Rightmove.co.uk to buy houses, it is questionable whether the extra commission is worth it.
Be very wary if you are ever asked to sign an agreement that contains the clause 'sole selling rights', as opposed to 'sole agency rights'. This is a very restrictive clause and will mean you will not be able to sell your property privately.
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